December 2019 Builders Bulletin: Housing Inventory, Permits Down

By MBAKS Senior Policy Analyst Allison Butcher

Housing inventory for sale fell between September and October to 1.74 months’ supply in King County and 1.51 months’ supply in Snohomish County. In both counties, this is down from a year ago. Meanwhile single-family and multifamily building permits were down 6% in the Seattle Metro Area (including King, Snohomish, and Pierce counties) in September compared to the same period last year.

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:

The boomer generation is more active than generations past, has a more sophisticated style, and wants options and choices in their homes. Whether they are selling the homes where they raised their children and heading to sunnier pastures or staying put and redesigning to accommodate their retired lifestyle, boomers are making an impact on new housing trends. Some features that home builders and remodelers are seeing as they begin to cater to the boomers include:

Some boomers are choosing to work past the age of 65. As they transition from a traditional 9-to-5 job, however, they want home offices for flexibility. A second career or part-time employment often eliminates the hassle of commuting while keeping them active and bringing in supplementary income.

The tech-savvy boomer generation wants top-of-the-line amenities for their homes such as a media room with surround sound and central control systems, which manage all media sources in one location. The house may include a wireless home network (Wi-Fi), remote control lighting, and security features.

As a person ages, there is a likelihood that use of a wheelchair might become a necessity. Designing a home that is livable now but can transition and be functional as the occupant ages is important in ensuring that the home will be a good long-term investment. Wider doors and hallways are useful for moving larger furniture today, and will also be wheelchair accessible tomorrow.

The need for more lighting usually increases as we grow older. To accommodate this, builders are adding more windows and making them larger to let in more natural light. They are also adding more light fixtures in areas including under cabinets and in stairwells. Multiple switches to reduce the number of trips and dimmer controls to eliminate glare are other options.

More than 40 percent of new homes have master suites downstairs, a 15 percent increase over a decade ago. Boomers not wishing to go up and down stairs with bad knees and aching backs have helped fuel this trend. The bedrooms are also bigger, with larger walk-in closets and bathrooms that have a separate tub and shower and dual sinks.

Yard work, painting, and other landscaping chores may no longer be enjoyable to aging home owners. People who move to a new home when they retire may opt for a maintenance-free community. Those that choose to stay in their homes might make improvements to exterior surfaces such as installing stucco, brick, or low-maintenance siding. Lawns are being replaced with living patios, decorative landscaping, or flower beds which can be a hobby for gardening enthusiasts.

"Flex space" has become more prevalent in both new homes and remodeling. Flex spaces are rooms that take on the purpose of the present home owner's needs but can adjust with changes as they occur. What may have once started out as a guest bedroom can be redecorated to serve as a hobby room or library. This allows home owners to stay in their homes longer as it continues to serve their needs throughout life's stages.

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Builders

12/19/2025

More Opportunities for Housing Choices, On-Going Barriers in Seattle Comp Plan Update

Green block print of downtown Seattle with ferry in foreground

Visit MBAKS Connect for our full analysis of Seattle’s updated Comprehensive Plan.

On Tuesday, Dec. 16, the Seattle City Council adopted its updated Comprehensive Plan, a key requirement of the state’s Growth Management Act (GMA) that sets the city’s 20-year vision. The plan will guide local decisions related to housing, land use, and other priorities to align with Seattle’s long-term goals and community values.

A key update in the Comprehensive Plan is its alignment with House Bill 1110, enacted by the State Legislature more than two years ago. HB 1110 requires local jurisdictions to allow for a broader spectrum of housing choices, including duplexes, townhomes, stacked flats, courtyard apartments, and cottage housing. The law allows for a minimum of four housing units on all residential lots, and at least six on all residential lots within a quarter mile of major transit. By reducing barriers to housing production near jobs and transit, HB 1110 advances the core principles of GMA while maintaining protections for environmentally sensitive and open spaces.

“Seattle’s adoption of its updated Comprehensive Plan means that the city has taken a major step forward in addressing the housing shortage placing homes out of reach for so many,” said Jerry Hall, executive director of the Master Builders Association of King and Snohomish Counties (MBAKS). “We commend Seattle for lowering many barriers to housing choices in the city even as we look ahead to persistent challenges that still exist in the work to make housing more attainable for all. MBAKS will continue to focus on offering our expertise regarding how best to facilitate more housing that is attainable for current residents, newcomers, and future generations.”

Reducing Barriers to Housing in Seattle’s Updated Comprehensive Plan

Seattle’s updated Comprehensive Plan removes several long-standing obstacles to housing production and allows for more efficient use of the city’s buildable land. Notably, the plan:

Invests in accessory dwelling units as a popular housing option.
Improves use of limited buildable land for housing.
Addresses the need for housing and trees.

Persistent Barriers to Housing Options in Seattle’s Updated Comprehensive Plan

Unfortunately, Seattle’s Comprehensive Plan preserves barriers that will continue to drive up the cost of housing for both renters and homeowners.

Under the plan, Seattle’s Department of Construction & Inspections would retain broad subjective discretion when reviewing new housing proposals related to tree canopy management. MBAKS supports the shared goal of maintaining a healthy urban tree canopy but strongly prefers a clearly defined, objective policy framework that provides transparency, predictability, and timely review for applicants.

The plan also relies on arbitrary minimum tree-per-square foot requirements, which further restrict already limited buildable land. These requirements increase the single greatest cost barrier for new housing: the price of land without demonstratable environmental benefit. Homebuilders are already subject to strict regulations that oversee new construction so that our water, air, and soil are appropriately protected. Homebuilders also routinely plant more trees during construction than are removed.

MBAKS members demonstrate their commitment to environmental stewardship by partnering with local jurisdictions through the association’s Planting a Better Tomorrow event.

“While other barriers to housing remain, MBAKS will continue to advocate for policies and partnerships needed to expand Seattle’s housing supply, ensuring everyone has a place to call home,” said Logan Schmidt, MBAKS’s Seattle Government Affairs Manager.

Visit MBAKS Connect for our full analysis of Seattle’s updated Comprehensive Plan.

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Builders

05/05/2017

Number of the Day: 80.5%

How Well Does Seattle Recover From Disaster?

Turns out, pretty well.

80.5 percent* is the percentage of Seattle metro area homes that have recovered to peak pre-recession value, according to a recent Trulia article.

What does this mean, exactly?

It means that the Seattle area has recovered quite well compared to a large amount of the United States. The region ranks #22 nationally in recovery percentage (a bit surprising we're that low), currently sitting behind Colorado smoking buddies Denver (#1, with an impressive 98.7 percent recovery rate) and Colorado Springs (#7, 93.4 percent), San Francisco (#2, 98 percent), and Oklahoma City (#3, 94.3 percent—and give us back the Sonics, please).

Other cities beating us at the moment include Dallas (#9, 92.5 percent), Honolulu (#11, 91.5 percent), and Portland (#13, 90.3 percent—grrrr).

Find the full list here.

Among the areas with the lowest recovery rates, including the bottom tier of Las Vegas—#101, with just 0.6 percent of homes back to pre-recession value), Tucson (100, 2.4 percent), and Fresno (99, 2.5 percent), it's no surprise to find that these cities have seen the worst income growth in the years spanning December 2009 to January 2017.

And guess what?

The cities with the strongest recovery rates, including our beloved Seattle, also have the strongest income growth. With the median Seattle proper home price currently clocking in at $638,000 (and $426,000 in the Seattle metro area), that's no big surprise, really. It takes a heavy wallet (or a lot of big wallets) to help dig us out of such a monumental disaster, especially considering that just 34.2 percent of all homes nationally have fully recovered to their pre-recession peak value.

The three big factors that set the tone for quicker recovery include, alongside income growth, job growth and population growth, as well as post-recession vacancy rate.

It's a bit humbling to see just how far into the hole the housing market was just eight years ago, spurred by the foreclosure crisis that was so big it now has its own major motion picture. The good news is that, according to Trulia, U.S. home recoveries have been steadily—albeit slowly—climbing since the stuff that hit the fan began to get cleaned up, to the tune of 5 to 6 percentage points per year. While Trulia's data suggests we won't see 100 percent of homes fully recovered until September 2025, the fact that we can again use terms like "thriving" and "booming" when it comes to the housing market and our economy feels good. Let's hope we can keep wearing these buzzwords out.

Now, if we can only figure out where to house all these home-hungry folks…

*All data courtesy of Trulia.com

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