By MBAKS Senior Policy Analyst Allison Butcher

Compared to January, Median home prices for single family homes and condos combined were up seven percent in King County and 6 percent in Snohomish County in February, according to the Northwest Multiple Listing Service data highlighted in the April Builders Bulletin. Meanwhile, the supply of inventory for sale fell from 2.34 to 2.09 months in King County, and from 2.00 to 1.63 months in Snohomish County.

The Builder's 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:

By MBAKS Senior Policy Analyst Allison Butcher

Low Inventory Driving Home Prices Up

The latest Builder's Bulletin for February 2017 shows a continued decline in the inventory of homes for sale in King and Snohomish counties and prices still on the rise. According to the Northwest Multiple Listing Service, in December 2016, both counties had less than a months' supply of inventory, far below the four to six month level considered by many industry analysts as an indicator of a healthy market. Meanwhile, the December median home price for single-family homes and condos was up 12.2 percent year-over-year in King County and 12.4 percent in Snohomish County.

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:

MBAKS has released a new middle housing issue brief to support successful implementation of House Bill 1110. The new brief, Middle Housing Implementation Plan, contains process and model code recommendations for cities subject to HB 1110, as well as tools and resources related to middle housing.

MBAKS’ overarching suggestion for cities implementing middle housing is to keep it simple. The easier and more cost-effective it is to build middle housing, the more likely it is to be built, and the more attainable it will be for those looking for a place to call home. The recommendations in the issue brief were informed by the work of MBAKS’ Ad Hoc Middle Housing Advisory Group and are designed to streamline the review process and facilitate more housing choices.

Allowing more middle housing will enable cities to better plan for a spectrum of housing choices so that current residents, newcomers, and future generations may find a home that best fits their lives. View Middle Housing Implementation Plan.