By MBAKS Senior Policy Analyst Allison Butcher

Low Inventory Driving Home Prices Up

The latest Builder's Bulletin for February 2017 shows a continued decline in the inventory of homes for sale in King and Snohomish counties and prices still on the rise. According to the Northwest Multiple Listing Service, in December 2016, both counties had less than a months' supply of inventory, far below the four to six month level considered by many industry analysts as an indicator of a healthy market. Meanwhile, the December median home price for single-family homes and condos was up 12.2 percent year-over-year in King County and 12.4 percent in Snohomish County.

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.

Download this month's report:

By Mike Pattison, Snohomish County Manager

In December 2016, the Washington state Supreme Court struck a blow to vesting rights when it ruled that newly adopted stormwater regulations do not vest. The Court let stand a window for certain projects to remain vested. The new stormwater regulations will apply to all applications submitted after July 1, 2015 and projects approved prior to July 1, 2015 which have not started construction by June 30, 2020.

The case, Snohomish County, et al. v. Pollution Control Hearings Board, will severely impact applications that have been submitted to a jurisdiction but are not yet approved. The opinion eliminates vesting for environmental regulations mandated by the state, including stormwater.

An editorial by MBA President Mike Walsh was recently published in The Herald discussing the case and explaining why vesting is so important to the homebuilding industry.

While there is no ability for local government to overcome the decision with local legislation, King and Snohomish counties are currently petitioning the Court to reconsider and clarify some of the opinion.

Further, there is a proposal before the Washington State Legislature, Senate Bill 5212, that would restore vesting rights.

For more information, contact Snohomish County Manager Mike Pattison, 425.460.8203.

Association Seeking Nominations for MBAKS Hall of Fame

Do you know someone who has made a significant contribution to the Master Builders Association of King and Snohomish Counties? The MBAKS Hall of Fame Award honors those who have made significant and lasting contributions to the association.

We are asking members to nominate someone deserving of this award and submit it to Kelsey Burdulis kburdulis@mbaks.com by Friday, September 6, 2024. Download the nomination form.

Nomination Period Open for Exceptional Service Award

Do you know an association member or staff member who has performed distinguished service to MBAKS on a sustained basis for at least 10 years? Now is the time to consider nominating them for an Exceptional Service Award. The award represents the highest recognition for members and staff for their professional leadership and exemplary service to the association.

If you would like to recommend someone for this award, please submit your nomination to

Kelsey Burdulis- kburdulis@mbaks.com by Friday, September 6, 2024. Download the nomination form.