NEWS & INSIGHTS
What’s Happening
Industry News
40% of pet owners say caring for furry friends is as costly as kids
Six of every 10 pet owners (61%) admitted having a pet is costlier than they anticipated, but an even larger number (74%) say cost doesn’t matter so long as they have a healthy, happy, safe fur baby. Those were among findings from a recent survey of 2,000 dog and cat [..]
Industry News
Master Builders issue “Housing Toolkit” for boosting housing choices and supply
Cities and counties can take some simple steps to help ease regulatory burdens and other obstacles that hamper the creation of housing for the Puget Sound region’s growing population, suggested the Master Builders Association of King and Snohomish Counties (MBAKS). The builder group recently issued an updated “Housing Toolkit” to help local jurisdictions [..]
Industry News
News In Brief: December 2021
During a press event in Glasgow, Gov. Jay Inslee announced an executive order to fully electrify Washington state’s public fleets and transition to a 100% zero-emission light duty fleet by 2035. The governor also ordered switching to 100% zero-emission medium and heavy-duty state fleets by 2040. Inslee made the announcement as [..]
Industry News
Timber company executive foresees strong housing market for years
Pent-up demand and demographics will keep the U.S. housing market strong “for years ahead,” according to Weyerhaeuser CEO Devin Stockfish. In an interview with CNBC’s Jim Cramer, the timber giant’s leader said underbuilding dating to the last Great Recession and surging demand during the pandemic are fueling homebuying. The National [..]
Industry News
Building Code Council adopts emergency rule to accommodate builder concerns
The State Building Code Council (SBCC) adopted an emergency rule affecting heat pumps in response to concerns from the homebuilding industry. Because of the current global microchip shortage, many home builders are unable to obtain certain components for residential heat pumps that are frequently installed to achieve the required energy [..]
Industry News
Homeowner outlays for remodeling could reach $400 billion by mid-2022
Residential remodeling expenditures could reach $400 billion by the third quarter of 2022, according to projections in the latest Leading Indicator of Remodeling Activity (LIRA). Strong growth in the indicator, which includes national home improvement and repair spending on owner-occupied homes, is expected to continue during 2022. Based on four-quarter [..]
Industry News
News In Brief: November 2021
Get ready to pay sharply higher bills for heating this winter, along with seemingly everything else according to a report by KOMO News. With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government said Wednesday it expects households to see jumps of up to 54% [..]
Monthly Market Update
Buyer hesitancy sidelines some while others compete for scarce housing inventory
KIRKLAND, Washington (November 4, 2021) – Northwest Multiple Listing Service brokers are detecting indecisiveness by some buyers who are getting mixed “work from home” messages from their employers. The hesitancy, coupled with cooler, wetter weather and increases in mortgage rates were likely factors in slower listing and sales activity during [..]
Industry News
Outlook for homeownership dims
Fewer Americans aspire to own a home, according to research by the National Association of Home Builders. The group’s latest Housing Trends Report showed the share of adults planning a home purchase within a year slipped to 16% for the third quarter of 2021, reversing five consecutive quarters on rising [..]
Industry News
Groups collaborating to close Black homeownership gap
Led by the Coalition for More Housing Choices, a partnership of more than a dozen organizations is collaborating to close the Black-white homeownership gap. Numerically, the goal is to double the Black homeownership rate in the next two decades in the region comprising King, Kitsap, Pierce and Snohomish Counties by [..]