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February Builders Bulletin: Housing Inventory in King and Snohomish Counties Remains Low

In February, builder confidence in the market for newly built single-family homes dropped to 42, a decline of five points from January, marking the lowest level in five months. In the West, the HMI stood at 35. According to NAHB, builder sentiment experienced a significant decline in February due to concerns over tariffs, elevated mortgage rates, and high housing costs.

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FOR IMMEDIATE RELEASE
Media Contact:
Caia Caldwell, Public Relations & Media Specialist
Master Builders Association of King and Snohomish Counties
p 425.460.8213
m 717.479.1231

Sen. Palumbo, Matthew Gardner to Speak at Housing Solutions Breakfast

There is growing momentum in Olympia for housing reform in the upcoming 2019 legislative session. Come hear a wide range of views from the Seattle area’s top housing experts as we work to increase housing supply and address our housing affordability crisis. Featuring Sen. Palumbo and chief economist for Windemere Real Estate, Matthew Gardner, the breakfast will include researchers, policy makers, and business professionals. Legislative priorities will be discussed, including condominium liability reform and the establishment of an urban net density standard in residential zones. Sen. Palumbo will make himself available to the media following his presentation. #HousingActionNow

More information on speakers and panelists: mbaks.com/hsb

About MBAKS

Founded in 1909, the Master Builders Association of King and Snohomish Counties has grown to become the largest residential homebuilders association in the United States. With nearly 3,000 member companies, the association is dedicated to membership value, housing advocacy, community service, and financial stewardship throughout the Puget Sound region. 

By Shannon Affholter, The Everett Herald

Despite numerous legislative efforts to find a permanent and balanced solution to address the Washington state Supreme Court's Hirst decision, lawmakers in Olympia remain deadlocked on the issue. Unfortunately, the legislature adjourned on Thursday without reaching an agreement.

The 2016 Hirst decision has effectively halted many people from building their homes in areas that depend on well water. The ruling has created a great deal of uncertainty for counties, rural communities, builders, and families across the state. As legislators leave town, the hardship on affected property owners will continue without being resolved.