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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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Contact: data@mbaks.com

Month’s supply of housing inventory for both King County and Snohomish County is still below a 2-month inventory, indicating that the market has not yet made the switch into a buyer’s market. Industry analysts consider a 4–6-month supply to be an indication of a healthy market. Snohomish County continues to be the most competitive within the Puget Sound region.

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We encourage you to invite your staff, subcontractors, homeowner clients, as well as friends and business partners to enjoy the evening with you. We especially encourage you to make sure your T-REX recipients attend. This is an opportunity for all to show their appreciation and support for the exceptional group of remodelers who are part of the oldest Remodelers Council in the nation.

I look forward to celebrating with you on May 13!

Your 2017 REX/T-REX Chair,

Luellen Smith
Rhino Wine Cellars & Cooling Systems