By Erich Armbruster, Ashworth Homes, The Lens News

One of the biggest challenges facing our region is a lack of attainable housing, especially near job centers. Continued growth is driving the demand for more housing and the strong demand is outpacing supply, causing home prices and rents to soar. This is making housing increasingly out of reach for families and workers and threatening our area’s quality of life.

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By MBAKS Senior Policy Analyst Allison Butcher

Supply of Homes for Sale Struggling to Keep Up with Demand

With our region's continued strong demand for housing, King and Snohomish counties' supply of housing inventory for sale fell to just three weeks. That is notably low in light of the fact that many analysts consider a four-to-six month level as an indicator of a healthy market. Meanwhile, both counties continued to see double-digit, year-over-year single family home price increases, reaching $425,000 in Snohomish County and nearly $600,000 in King County during March. In Seattle, the median single family home price rose to $700,000.

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.

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Shannon Affholter is the executive director of the Master Builders Association of King and Snohomish Counties, the largest and oldest local homebuilders association in the nation. Previously, he was the vice president of business and economic development for Economic Alliance Snohomish County. While there, he advanced strategic growth plans, advocated on behalf of business and fostered economic development in the region. He also was elected to serve two terms on the Everett City Council.

Prior to his tenure at Economic Alliance Snohomish County, Affholter was a business development executive at the regional accounting firm of Moss Adams and an account executive with Merck. He holds an MBA from Western Washington University and a Bachelor of Business Administration from Pacific Lutheran University. In The Money Hour segment today, Shannon talks about how the demand for housing has significantly outpaced residential housing supply.