By The Herald Editorial Board

The Legislature's $43.7 billion two-year budget—which took negotiations within hours of a partial state government shutdown—is signed, but some lawmakers haven't had quite enough brinkmanship for the year.

Now the state's $4 billion capital budget, which provides the funding for construction of public schools, colleges, universities, community and youth facilities, parks, environmental projects, and more, is being held up by the Republican-controlled Senate until lawmakers can resolve a disagreement over water rights for private development.

By MBAKS Senior Policy Analyst Allison Butcher

Housing Demand Continues to Outpace Supply

The September Builder's Bulletin shows signs that our region's housing supply and demand continues to be out of balance, with housing inventory for sale hovering around one-month's supply in King and Snohomish counties and home prices still on the rise. The median price of single family homes in King County rose 18.56 percent year-over-year in July to $658,000. The median price in Snohomish County rose 11.87 percent to $453,085.

The Builders' Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, U.S. Census Bureau, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

The MBA held its annual Hill Day in Olympia last Wednesday, February 8, providing an opportunity for members to advocate for our top-priority housing issues. Twenty-five members and Government Affairs staff met with over 30 King and Snohomish county-based legislators throughout the day.

Members discussed our core issues with senators and representatives, including the need to restore vested development rights, improve the process for measuring buildable land supply, find a path forward for permit-exempt wells in the wake of the Supreme Court's Hirst decision, and support workforce development.

MBA members also shared with legislators our new housing attainability piece, describing steps needed to bring housing supply more in line with our region's strong demand.

During the lunch break, Rep. Joe Fitzgibbon (34th District) met with the MBA to provide a legislative update. Fitzgibbon is sponsoring a bill, HB 1862, backed by the MBA, that would allow final subdivision plat approvals to be conducted administratively.

Thanks to all our members who participated and helped make sure our association's voice is heard in Olympia!