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February 2026 Builders Bulletin: Housing Inventory Rises

Mortgage interest rates continued to trend lower in January as housing inventory for sale increased. While this shift offers some relief for homebuyers, other indicators in the February Builders Bulletin point to continued headwinds for the housing market, including higher unemployment in Washington state and the Seattle region in December and declining builder confidence in January.

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Media Contact:
Stephanie Giralmo, Public Relations & Media Manager
Master Builders Association of King and Snohomish Counties
p 425.457.7048

MBAKS Announces 2021 REX/T-REX (Remodeling Excellence and Trades Remodeling Excellence) Awards Winners

BELLEVUE, Wash.—June 12, 2021—For the 35th year in a row, the Master Builders Association of King and Snohomish Counties (MBAKS) hosted their annual Remodeling/Trades Remodeling Excellence (REX/T-REX) Awards.

The REX / T-REX Awards, presented by the Remodelers Council of MBAKS, encourages local remodelers and builders to submit their best projects of the year. Each submission is reviewed by a panel of remodeling professionals from across the country and winners are selected in each category. The categories are as follows: Bath Excellence, Kitchen Excellence, Residential Remodel Excellence, Green Remodel Excellence, Exterior Remodel Excellence, Landscape & Outdoor Living Excellence, Get Away Room & Specialty Space Excellence, and Design Excellence.

REX/T-REX entries were judged on the following categories:

1. Aesthetics—How is the remodel visually appealing?
2. Special or unique design solutions—How was the space planned and was livability considered?
3. Quality workmanship—What are the special features of the project and is there attention to detail?
4. Use of appropriate building material—Does the remodel complement existing structure and design?
5. Budgetary consideration—How did the project keep within the budget and still deliver client expectations?
6. Challenges and obstacles—Were there any unexpected obstacles that called for adjustments?

2021 REX/T-REX Winners

About the Master Builders Association of King and Snohomish Counties

Founded in 1909 and headquartered in Bellevue, Washington, the Master Builders Association of King and Snohomish Counties (MBAKS) is one of the nation’s oldest and largest local homebuilders associations. Like our founders, our members continue to take a leading role in all facets of homebuilding and support the planning for a growing region. From new technology to advances in sustainability, from collaborative public policy efforts to investing in our communities, our commitment to a thriving, inclusive and well-planned region never wavers. We are the professional homebuilders, architects, remodelers, tradespeople (carpenters, framers, roofers, plumbers, electricians), planners and engineers, suppliers, manufacturers, and sales and marketing professionals in your community who believe everyone deserves access to a healthy and productive place to call home.

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This year’s housing solutions breakfast highlighted local permitting changes to make home happen now. We’re thankful to have hosted Senator Mullet as our keynote speaker and a panel of local leaders including North Bend Mayor Rob McFarland,  Auburn Director of Community Development Jeff Tate, and Mill Creek Mayor Brian Holtzclaw, moderated by Snohomish County Executive Director Ken Klein.

The discussion focused on the important role a timely, predictable and fair permitting review process plays in our region’s ability to respond to the housing crisis. In recognition of its importance, on May 8, 2023 Governor Inslee signed into law  Senate Bill 5290 (sponsored by Sen. Mullet) aimed to reduce permit review timelines and facilitate swifter, more predictable construction. This new law will streamline the permit review process by requiring local governments to adopt and report timelines. To help jurisdictions comply, it also established grant programs and permit processing enhancements. This address historically slow permit processes that have elevated housing costs.

MBAKS is ready to serve as a resource with tools and best practices jurisdictions can implement now to comply with the new requirements.  The Housing Toolkit is intended to serve as a guide for local governments, listing specific code updates and process improvements jurisdictions can take to help provide more diverse, affordable housing. As an additional resource specific to SB 5290, MBAKS developed an overview of requirements and best practices to consider when implementing.