By Mike Richards, The Lens News

Washington homebuilders and realtors are praising a new law that would clarify what land is considered buildable under Growth Management Act (GMA) comprehensive plan updates—a move stakeholders say will help address housing inventory shortages across Washington.

The Senate approved SB 5254 in a 47-2 vote on June 29. On the same day, the bill passed the House in a 85-9 vote, with four excused. On July 6, Governor Jay Inslee signed the measure into law.

In King County, the median price for single-family homes and condos reached $860,000, while in Snohomish County, it was $762,500. For single-family homes alone, King County saw a 5% increase in median price, rising from $906,250 last year to $955,000.

Meanwhile, Snohomish County experienced a 7% increase, with the median price climbing from $730,563 to $780,000.

For more data contact: data@mbaks.com

Download the PDF: Sep. Builders Bulletin

Shannon talks to Luellen Smith of Rhino Wine Cellars & Cooling Systems, this year's REX/T-REX Awards Chair and Associate of the Year, about REX and getting involved in our councils.

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