By MBAKS Senior Policy Analyst Allison Butcher

Home Prices Up Amid Continued Inventory Crunch

King and Snohomish counties continue to have less than one month's supply of housing inventory for sale. Our region's low supply coupled with strong demand is driving up home prices. The latest market summary from the Northwest Multiple Listing Service shows median home prices are up 14 percent year-over-year in both counties during February.

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 Builders’ Bulletin is intended to provide a convenient way to track housing in our market and includes information from the Northwest Multiple Listing Service, State of the Cities Data Systems, Office of Financial Management and the Washington State Employment Security Department.

Download this month's report:

The Rolls-Royce and the Ferrari parked in front of a real estate sales office in Seattle's Belltown neighborhood Wednesday night were the first indication that this was no normal "house party."

The line of blue-jacketed valets, the red carpet and rope line, the doorman with a list of registered guests, the wine bar, the gourmet hors d'oeuvres, the black-tie-wearing servers, the mini pop-up shop for custom-tailored men's suits—all of that was a pretty good signal, too.

A decidedly less stereotypical Seattle—sans the hiking and rain gear that usually defines us to the world—actually dressed up and turned out to mingle and tour a mock floor plan for a luxury condominium development called Nexus.