washington market highlights: second quarter...

Washington State’s Housing Market 2nd Quarter 2016

Washington Market Highlights: Second Quarter 2016

• Existing home sales rose in the secondquarter by 14.2 percent to a season-ally adjusted annual rate of 109,359units compared to last quarter, androse 3.4 percent compared to a yearearlier.

• Building permit activity rose 78.5 per-cent from a year earlier, totaling 6,627new units authorized. Of these, 6,342were issued for single-family units.

• The median price home sold in Wash-ington during the second quarter was$317,500, 11 percent above a year ear-lier.

• Housing affordability for both all buy-ers and first-time buyers decreasedfrom the first quarter of 2016. TheAll-Buyer Housing Affordability In-dex stayed above 100 in 37 of Wash-ington’s 39 counties. And, first-timebuyer’s index decreased from both theprevious quarter and from the secondquarter of last year.

• Inventories of homes available for saletotaled 23,974 single-family homes atthe end of the quarter, a 24.8% in-crease from quarter 1 and a 12.8percent decrease from a year ago.This inventory level represented a 2.4month supply, a slight imbalance,where demands exceeds the supply ofhomes on the market.

• Seriously delinquent mortgages de-creased from the second quarter of2015. The 25,723 Washington mort-gages which are at least 90-days pastdue or in the foreclosure process is 5.6percent less than three months ago.

60000

80000

100000

120000

Exi

stin

g H

ome

Sal

es (

SA

AR

)

Ten year time trend (Q3:2006−Q2:2016)

$ 220,000

$ 240,000

$ 260,000

$ 280,000

$ 300,000

$ 320,000

2007

:Q2

2008

:Q2

2009

:Q2

2010

:Q2

2011

:Q2

2012

:Q2

2013

:Q2

2014

:Q2

2015

:Q2

2016

:Q2

Med

ian

Hom

e P

rices

Real Estate Commission

WASHINGTON CENTER FOR REAL ESTATE RESEARCH | RUNSTAD CENTER FOR REAL ESTATE STUDIES | COLLEGE OF BUILT ENVIRONMENTS

Washington State’s Housing Market is aquarterly report to the Washington RealEstate Commission and the WashingtonState Department of Licensing.

Prepared by:Runstad Center for Real Estate StudiesCollege of Built EnvironmentsUniversity of Washington424 Gould Hall, Box 355740Seattle, WA 98195-5740Phone: (206) 685-9597Web: realestate.washington.eduE-mail: [email protected]

Peter OrserDirector

©Copyright 2015 by the Runstad Centerfor Real Estate Studies. All rights reserved.

The Runstad Center for Real Estate Studieswill grant permission to use or reprintmaterial from Washington State’s HousingMarket under appropriate circumstances.

SUBSCRIPTION INFORMATIONWashington State’s Housing Market ispublished quarterly by the Runstad Centerfor Real Estate Studies The annual sub-scription price is $60 plus tax. Phone us, orvisit our Website for more information.

Second Quarter 2016Issued April 2016

Survey Description

Publication: Washington State’s Housing Market is a publication of the Runstad Center for RealEstate Studies at the University of Washington.

Coverage: At least quarterly, the Runstad Center receives data on single-family home sales fromeach multiple listing service located in, or providing market coverage to, Washington communities.In 2012, data on nearly 69,000 home transactions were received and processed.

Sales Volume: Estimated total sales value of single-family homes in each county is compiled usinga scale factor to transform the MLS sales to market totals. This scaling is required since a significantnumber of transactions are always completed as "for sale by owner" or are assisted by real estatelicensees who do not participate in a MLS. Scale factors were developed by analyzing the relation-ship between MLS sales and measures of total single-family sales derived from the 2010 AmericanCommunity Survey and data from individual county assessors.Data in this report represents closed sales transactions.

Sales Price: Median sales prices represent that price at which half the sales in a county (or thestate) took place at higher prices, and half at lower prices. Since the Runstad Center does not receivesales data on individual transactions (only aggregated statistics), the median is determined by theproportion of sales in a given range of prices required to reach the midway point in the distribution.While average prices are not reported, they tend to be 15-20 percent above the median.

Movements in sales prices should not be interpreted as appreciation rates. Prices are influenced bychanges in cost and changes in the characteristics of homes actually sold. The table on prices bynumber of bedrooms provides a better measure of appreciation of types of homes than the overallmedian, but it is still subject to composition issues (such as square footage of home, quality offinishes and size of lot, among others).

There is a degree of seasonal variation in reported selling prices. Prices tend to hit a seasonal peakin summer, then decline through the winter before turning upward again, but home sales prices arenot seasonally adjusted. Users are encouraged to limit price comparisons to the same time period inprevious years.

Seasonal Adjustment: Volume statistics are seasonally adjusted using the X-11 method of seasonaladjustment originally developed at the US Bureau of the Census and used for adjustment of mosteconomic statistics by government agencies. The procedure includes adjusting for trading dayvariation—the number of Mondays, Tuesdays, etc., in a particular month or quarter. This type ofvariation in the data was found to be significant.

Sales in each county are first seasonally adjusted, then aggregated to yield the statewide statistics.

Seasonal indices are based on quarterly single-family home sales activity dating from Second Quarter1994. New seasonal adjustment factors are constructed at the conclusion of each year. Data for thethree preceding years are revised using these new seasonal factors.

Seasonally-adjusted annual rate values are based on single quarter sales and indicate the number ofsales which would take place in a year if the relative sales pace were to continue. They are not aforecast of annual activity and do not include the sales observations of previous quarters.

Metropolitan/Micropolitan Areas: This report uses the definitions of metropolitan andmicropolitan areas by the Federal Office of Management and Budget. Briefly, metropolitan areas arelarger communities with at least 50,000 people in the urban core. Micropolitan areas are smallercities, with 10,000-50,000 people in the urban core. Currently Washington has 21 metropolitancounties in 14 metropolitan areas (or divisions) and nine micropolitan areas. Metropolitanand microplitan area designations were revised in February 2013 based on Census 2010. Somerural counties are now included in metropolitan or micropolitan areas because of commuting patterns.

Month’s Supply: Estimates of month’s supply of homes on the market compare the number oftotal MLS listings at the end of the quarter to the seasonally-adjusted annual rate sales for thatcounty [(Listings/SAAR) x 12 = month’s supply]. It is interpreted as how long the current inven-tory available for sale would be able to meet current demand if no additional homes were listed for sale.

Housing Affordability: Two measures of housing affordability are presented. Each should beinterpreted as the degree to which a median income family (or typical first-time buyer household)could afford to purchase the assumed home. The following table lays out the assumptions. In allcases it is assumed the lender would be willing to fund the loan so long as the principal and interestpayments do not exceed 25 percent of gross income. Index values above 100 indicate housing isaffordable to the specified income group.

All Buyers First Time

Home Price Median 85% MedianDownpayment 20% 10%Mortgage Term 30 years 30 yearsIncome Median Family* 70% Median Household*Mortgage Insurance No Yes (add 0.25% to mortgage rate)Mortgage Rate FHFA estimate of effective rate loans closed, existing homes

*Family income is two or more individuals related by blood, marriage, or adoption. Household incomeincludes single persons living alone.

2 Washington State’s Housing Market–Second Quarter 2016

realestate.washington.edu

mailto:[email protected]

Summary:

Washington state’s housing market was very strong in thesecond quarter of 2016, with sales and new building permitsrising compared with a year ago.

The statewide median sales price for a single family homerose to $317,500 in the second quarter, 11 percent higherthan the same time in 2015. This value is greater than theprevious all-time high of $316,700 in the second quarter of2007.

The seasonally adjusted annual rate of existing home salesrose 3.4 percent from the Second Quarter of 2015–from105,805 to 109,359. This means that if the quarter’s pacecontinued unchanged for a year, that number of homes wouldbe sold. Although robust, the current annual rate of sales islower than the high witnessed in 2003.

Home prices rose in 16 of the state’s 17 metropolitan coun-ties, decreasing by 2.6% in Chelan County. Jefferson Countyrecorded the highest relative increase of 124.1 percent, fol-lowed by King County at 24.3 percent. Median prices werelower than a year earlier in nine counties, with prices in Lin-coln County decreasing by 23.5%.

Given the variety of location and market diversity in thestate, median housing prices are highly variable, rangingfrom $65,000 in Lincoln County to $568,400 in King County(San Juan County has the second highest median values at$420,800).

Housing affordability was lower in the second quarter than

both last quarter and last year. That index–where 100 meansa middle-income family can just qualify for a median-pricedhome, given a 20 percent down payment and a 30-year fixedmortgage rate at prevailing rates–was 133.7, up from 143.4 inthe first quarter of 2016. This metric suggests that, given thesame down payment and mortgage, a middle-income familycan afford a home selling for 33.7 percent above the median.

Statewide, the first-time buyer index showed a decrease of6.6 points, ending the quarter at 76.3. This index assumesa less expensive home, lower down payment and lower in-come. This means that a household earning 70 percent ofthe median household income–as may be true of first-timebuyers–had only 76.3 percent of the income required to pur-chase a typical starter home statewide.

Housing affordability varied widely across the state. Theleast affordable county for both average and first time homebuyers is San Juan, with Lincoln County the most afford-able. Twenty-three counties, especially those in the centralPuget Sound, present affordability issues for newcomers.

Affordability remains a challenge in the state’s housing mar-ket. This is contrasted with strong quarterly permitting ac-tivity of 6,627 new units, primarily in multifamily housingunits in metropolitan areas, marking a 78.5 percent increasein the number of units under construction compared to ayear ago.

Washington can be described as three states, includingtrends for Metropolitan, micropolitan, and other areas (mapbelow). It can also be three states, with differing challengesfor easternWashington, westernWashington, and the centralPuget Sound. The nature of this report has been changed sothat reader’s can more easily pull out the information theyneed, especially for variances in location.

Runstad Center for Real Estate Studies / University of Washington 3

Home Resales:

14.2%Quarter-over-quarter increase in seasonally adjusted annualsales.

109,359Seasonally Adjusted Annual Sales (SAAR).

3.4%Year-over-year increase in seasonally adjusted annual sales.

31 of 39Number of counties with quarter-over-quarter sales in-creases.

600%Largest quarter-over-quarter gain in seasonally adjustedsales seen in Columbia County.

560Largest quarter-over-quarter sales gain in absolute termsseen in Clallam County.

6 of 39Number of counties with a quarter-over-quarter decrease in

seasonally adjusted sales.

33.3%Largest drop in seasonally adjusted quarter-over-quarter

sales seen in Lincoln County.

150Largest drop in seasonally adjusted quarter-over-quarter

sales in absolute terms seen in Walla Walla County.

FiveNumber of counties with sales rates at least ten percent

lower than the previous quarter.

2 of 17Number of Metropolitan Counties with fewer sales than the

previous quarter.

95,730Seasonally adjusted annual sales rate in the 17Metropolitan Counties (87.5 % of state total).

60000

80000

100000

120000

2007

:Q2

2008

:Q2

2009

:Q2

2010

:Q2

2011

:Q2

2012

:Q2

2013

:Q2

2014

:Q2

2015

:Q2

2016

:Q2

Exi

stin

g H

ome

Sal

es (

SA

AR

)



Lincoln

Ferry

Garfield

Columbia

Adams

Wahkiakum

Pend

Asotin

Klickitat

Skamania

San Juan

Okanogan

Whitman

Pacific

Douglas

Stevens

Walla Walla

Jefferson

Grant

Chelan

Mason

Kittitas

Clallam

Lewis

Cowlitz

Franklin

Grays Harbor

Yakima

Island

Skagit

Whatcom

Benton

Kitsap

Thurston

Clark

Spokane

Snohomish

Pierce

King

10 50 500 5000 30000SAAR (log scale)

< −50%

0

< 50%

SAAR & Yearly Change by County


HousingConstruction:

6,627Number of building permits issued during the quarter.

78.5%Increase in year-over-year total number of permits.

26.9%Increase in quarter-over-quarter total number of permits.

84.5%Decrease in year-over-year multi-family permits (1,552fewer units).

238.1%Increase in year-over-year single family permits (2,914 ad-

ditional units).

$2,528,977,042Total value of permits, 42.2% increase over last quarter).

$1,808,083,228Total value of single family permits, 28.8% increase overlast quarter).

$720,893,814Total value of multi-family permits, 92.2% increase overlast quarter).

$285,097Average value of permitted single family home.

$2,529,452Average value of permitted multi-family home.

39.6% & 62.4%Value of permits in King County, and in the central Puget

Sound, as compared to the state.


$ 220,000

$ 240,000

$ 260,000

$ 280,000

$ 300,000

$ 320,000

0

2,000

4,000

6,000

8,000

$ 0

$ 500,000,000

$ 1,000,000,000

$ 1,500,000,000

2007

:Q2

2008

:Q2

2009

:Q2

2010

:Q2

2011

:Q2

2012

:Q2

2013

:Q2

2014

:Q2

2015

:Q2

2016

:Q2

2007

:Q2

2008

:Q2

2009

:Q2

2010

:Q2

2011

:Q2

2012

:Q2

2013

:Q2

2014

:Q2

2015

:Q2

2016

:Q2

Med

ian

Hom

e P

rices

Per

mits

Issu

edTo

tal V

alue


Single−family unit

Multi−family unit

Single−family unit

Multi−family unit


Home Prices:

$317,500Median selling price of a single family home.

11%Year-over-year increase in median selling price of a singlefamily home.

2.5%Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index.

$568,400Highest median price in the state seen in King County.

$65,000Lowest median price in the state seen in Lincoln County.

$182,500Lowest median price in a Metropolitan county seen inAsotin and Garfield Counties.

$153,300–$318,800Range of prices in Micropolitan areas (Adams to Island).

Two of NineNumber of counties with year-over-year price declines ofmore than ten percent.

Fourteen of ThirtyNumber of counties with year-over-year price increases ofmore than ten percent.

8.3%, 7.6%, & 6.9%Year-over-year price increase in eastern Washington, West-ern Washington, and the central Puget Sound.

Big PlayersIncreases for the five largest counties by sales volume:King 14.7%

Pierce 9.3%

Spokane 7.0%

Snohomish 9.5%

Thurston 8.7%

Prices by Bedroom:

$218,700Median price for a 2-bedroom single family home, a 16%

year-over-year increase.

$286,900Median price for a 3-bedroom single family home, a 12.1%


$394,800Median price for a 4-bedroom single family home, a 7.7%


13.9

48.3

37.8

2016:Q2

%Bedrooms

4

3

2

Sales by Number of Bedrooms

2 of 17Number of Metropolitan counties with price declines in

2-bedroom homes.

32.1%Biggest decline in price of a 2-bedroom home in a

Metropolitan county, seen in Douglas county (down to$140,000).

ThreeNumber of Metropolitan counties with year-over-year price

increases of 20% or more (Clark, Kitsap, and Skagitcounties).

Two & TwoNumber of Metropolitan counties with price declines in

3-bedroom and 4-bedroom homes.


HousingAffordability:

1Annual decrease in mortgage interest rate basis points (bps).

11%Year-over-year increase in home prices.

Worse & WorseStatewide all-buyer housing Affordability as compared tolast quarter, and last year.

133.7Statewide all-buyer housing affordability index.

90.6 to 484.1Range of affordability index scores across the state, low inSan Juan county, and high in Lincoln county.

28 of 39Number of counties with statewide all-buyer affordability

lower than a year ago.

92.3 & 130.4Lowest affordability index values in Metropolitan (King),

and micropolitan (Benton) counties.

76.3Statewide first-time housing affordability index, downfrom the previous quarter, and down from last year.

16 of 39Number of counties with a first-time affordability index

greater than 100 (affordable).

53.2 to 113.5Range of values for first-time affordability among

Metropolitan Counties. Low in King county, and high inBenton county.

66.9 to 121.5Range of values for first-time affordability among

micropolitan Counties. Low in Mason county, and high inLewis county.

50

100

150

2007

:Q2

2008

:Q2

2009

:Q2

2010

:Q2

2011

:Q2

2012

:Q2

2013

:Q2

2014

:Q2

2015

:Q2

2016

:Q2

HAIFirst−time HAI



Availability ofAffordable Housing:

$76,400Statewide median family income

$48,200 to $94,400Range of median family income values. Low in Adamscounty, and high in King county.

$61,397Statewide median household income

$26,222 to $79,462Range of median household income values. Low in Ferrycounty, and high in King county.

2.8%Statewide inventory priced below $80,000, decreased from

3.7% from a year ago.

15 of 39Number of counties with less than 2% of homes priced

below $80,000.

0% & 0.8%Homes in King and San Juan counties below $80,000.

14.1%Statewide inventory priced below $160,000, decreased

from 18.2% a year ago.

0.0% to 41.4%Range of availability of homes below $160,000 inMetropolitan counties. High in Pierce county.

Available Inventory:

23,974Number of homes available for sale at the end of the quarter.

3,507 & 4,769Decrease from last quarter (12.8%), and Increase fromlast year (24.8%).

2,304 & 3,140Largest available inventories seen in Spokane county, andKing county. Down 7.6%, and down 16.8% from lastquarter.

Seven of SevenNumber of counties with more than 1,000 listing that hadan increase over last quarter.

55.3%Largest relative increase in listings seen in Clallam county(320 units).

4 of 39Number of counties with a decline in listings since the lastquarter.

100%Largest decline since last quarter, seen in Wahkiakum

county.

3 of 39Number of counties with declines in listings greater than

20%.

2.4Month’s supply of housing. 2 last quarter, and 2.9 last

year.

0 to 123.7Range of month’s supply across the counties–low in several

counties, high in Walla Walla and Columbia counties.

SevenNumber of counties with less than five month’s supply of

homes priced over $500,000 (Cowlitz, Grant, King,Kitsap, Spokane, Walla Walla, and Yakima).

3 & 3Numbers of counties with more than a year’s supply of

homes, and more than a year’s supply of homes priced over$500,000.


20,000

30,000

40,000

50,000

3.0

6.0

8.9

11.9

2007

:Q2

2008

:Q2

2009

:Q2

2010

:Q2

2011

:Q2

2012

:Q2

2013

:Q2

2014

:Q2

2015

:Q2

2016

:Q2

Act

ive

List

ings

Mon

th 6

Mon

th's

Sup

ply



HOUSING MARKET SNAPSHOT

State of Washington and CountiesSecond Quarter 2016

County SAAR% Change

by qtr% Change

by yearBuildingPermits

% Changeby year

MedianResale

Price ($)% Change

by year HAI

First-timeHAI

Adams 130 116.7 30 0 0 $153,300 -1.1 174.7 101.1Asotin 260 -16.1 -21.2 2 0 $182,500 5.3 178.4 103.3Benton 4,220 9.6 1.7 279 146.9 $225,300 9.9 172.5 113.5Chelan 950 2.2 33.8 106 186.5 $270,200 -2.6 145.6 81.9Clallam 1,200 87.5 84.6 48 242.9 $259,500 20.4 130.4 120.8Clark 7,620 0.3 4.5 753 189.6 $293,400 9.9 144.8 84.7

Columbia 70 600 0 0 0 $150,000 -6.2 228.1 144.3Cowlitz 1,350 11.6 12.5 39 333.3 $207,400 12.5 165.8 97.6Douglas 560 7.7 60 34 142.9 $253,900 2.2 150.6 81.2

Ferry 7 0 75 0 0 $100,000 -23.1 271.4 103.5Franklin 1,420 10.1 2.2 124 202.4 $225,300 9.9 172.5 56.6Garfield 50 -16.7 -16.7 0 0 $182,500 5.3 160.3 112.9Grant 890 4.7 9.9 60 252.9 $189,200 14.7 160.2 91.1

Grays Harbor 1,620 -3.6 8 55 175 $154,800 9.7 195.7 113.6Island 2,210 32.3 15.7 89 287 $318,800 11.5 132.4 89.2

Jefferson 800 40.4 23.1 80 433.3 $325,000 24.3 113.6 68.6King 27,260 20 -1.8 1,412 -8.3 $568,400 14.7 92.3 53.2

Kitsap 4,550 6.8 78.4 256 55.2 $292,100 10.7 151.1 104.6Kittitas 1,120 1.8 0 82 203.7 $246,300 -0.4 149 68.2Klickitat 260 23.8 0 29 222.2 $275,000 14.9 104.7 63.4

Lewis 1,210 33 24.7 40 166.7 $179,200 13.8 182.7 121.5Lincoln 2 -33.3 100 14 366.7 $65,000 -23.5 484.1 366.2Mason 1,090 6.9 10.1 31 121.4 $191,300 9.3 182.9 66.9

Okanogan 370 -14 -11.9 55 358.3 $169,200 13.6 176.5 118.9Pacific 550 22.2 10 20 233.3 $145,000 -6 211.3 104.4Pend 230 0 -8 12 100 $161,200 -9.3 173.8 93.6Pierce 14,840 15.1 8.5 735 148.3 $279,400 9.3 148.8 73.5

San Juan 310 10.7 6.9 34 240 $420,800 5.2 90.6 44Skagit 2,490 33.9 13.2 121 266.7 $296,600 21.6 129.3 54.9

Skamania 290 107.1 7.4 8 0 $220,000 13.8 193.2 94.5Snohomish 11,380 17.9 6.6 761 300.5 $389,800 7 124.6 68.4

Spokane 8,100 11.1 4.9 593 2.6 $209,500 9.5 174.2 103.9Stevens 680 1.5 -9.3 30 200 $161,200 -9.3 194.5 108.3

Thurston 4,780 9.1 19.2 320 240.4 $268,000 8.7 162.7 83.1Wahkiakum 130 160 62.5 1 0 $208,300 19 155.7 53Walla Walla 700 -17.6 -18.6 44 214.3 $208,000 5.2 162.6 109.9

Whatcom 3,350 10.6 5 233 158.9 $299,800 1.7 132.1 74.6Whitman 410 13.9 -90.4 28 600 $236,000 15.1 151.8 86.1Yakima 1,900 11.8 3.3 99 266.7 $184,200 8.6 161.8 93

Statewide 109,359 14.2 3.4 6,627 78.5 $317,500 11 133.7 76.3

1. Home Resales are Runstad Center estimates based on MLS reports or deed recording.2. SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison.3. Building permits (total) are from the U.S. Department of Commerce, Bureau of the Census.4. Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices.5. Affordability index measures the ability of a typical family to make payments on median price resale home. It assumes 20% downpayment and 30-year amortizing mortgage.First-time buyer affordability index assumes a less expensive home, lower downpayment, and lower income.6. Whitman, Benton, and Franklin Counties figures cannot be compared to reports released prior to Q2:2015.


EXISTING HOME SALES

State of Washington and CountiesSeasonally Adjusted Annual Rate

County 15:Q1 15:Q2 15:Q3 15:Q4 16:Q1% Change

by qtr% Change

by yearAdams 70 100 80 110 60 -45.5 -14.3Asotin 330 330 320 290 310 6.9 -6.1Benton 3,540 4,150 4,400 3,870 3,850 -0.5 8.8Chelan 410 710 780 980 930 -5.1 126.8Clallam 630 650 680 560 640 14.3 1.6Clark 6,440 7,290 5,200 7,670 7,600 -0.9 18

Columbia 130 70 520 30 10 -66.7 -92.3Cowlitz 1,260 1,200 1,190 1,320 1,210 -8.3 -4Douglas 360 350 450 530 520 -1.9 44.4

Ferry 8 4 5 7 7 0 -12.5Franklin 1,190 1,390 1,480 1,300 1,290 -0.8 8.4Garfield 60 60 60 60 60 0 0Grant 950 810 920 840 850 1.2 -10.5

Grays Harbor 1,310 1,500 1,540 1,070 1,680 57 28.2Island 1,660 1,910 1,800 1,630 1,670 2.5 0.6

Jefferson 540 650 760 590 570 -3.4 5.6King 24,230 27,750 27,530 25,170 22,710 -9.8 -6.3

Kitsap 4,080 2,550 4,360 4,240 4,260 0.5 4.4Kittitas 990 1,120 1,240 960 1,100 14.6 11.1Klickitat 300 260 280 260 210 -19.2 -30

Lewis 850 970 1,200 950 910 -4.2 7.1Lincoln 3 1 3 4 3 -25 0Mason 880 990 1,160 1,050 1,020 -2.9 15.9

Okanogan 400 420 360 400 430 7.5 7.5Pacific 430 500 490 490 450 -8.2 4.7Pend 230 250 230 240 230 -4.2 0Pierce 11,460 13,680 13,200 12,200 12,890 5.7 12.5

San Juan 300 290 340 270 280 3.7 -6.7Skagit 1,770 2,200 2,140 1,870 1,860 -0.5 5.1

Skamania 40 270 300 240 140 -41.7 250Snohomish 9,170 10,680 10,740 9,710 9,650 -0.6 5.2

Spokane 7,210 7,720 8,180 4,760 7,290 53.2 1.1Stevens 690 750 690 700 670 -4.3 -2.9

Thurston 3,940 4,010 4,140 3,700 4,380 18.4 11.2Wahkiakum 120 80 150 140 50 -64.3 -58.3Walla Walla 80 860 1,090 600 850 41.7 962.5

Whatcom 3,020 3,190 3,180 2,770 3,030 9.4 0.3Whitman 340 4,250 530 510 360 -29.4 5.9Yakima 1,830 1,840 1,880 1,820 1,700 -6.6 -7.1

Statewide 91,251 105,805 103,598 93,911 95,730 1.9 4.9

Number of single-family units sold, excluding new construction.


EXISTING HOME SALES

State of Washington and CountiesNot Seasonally Adjusted

County 15:Q1 15:Q2 15:Q3 15:Q4 16:Q1% Change

by qtr% Change

by yearAdams 20 30 20 20 10 -50 -50Asotin 70 90 80 70 70 0 0Benton 710 1,150 1,220 940 780 -17 9.9Chelan 80 190 220 250 180 -28 125Clallam 130 170 200 140 130 -7.1 0Clark 1,340 2,010 1,460 1,800 1,580 -12.2 17.9

Columbia 30 20 140 6 3 -50 -90Cowlitz 260 330 330 310 250 -19.4 -3.8Douglas 70 90 130 130 100 -23.1 42.9

Ferry 2 1 2 2 1 -50 -50Franklin 240 390 410 320 260 -18.8 8.3Garfield 10 20 20 10 10 0 0Grant 170 230 270 200 150 -25 -11.8

Grays Harbor 260 400 410 280 340 21.4 30.8Island 300 490 560 400 300 -25 0

Jefferson 110 160 210 160 120 -25 9.1King 4,750 7,820 7,770 6,030 4,450 -26.2 -6.3

Kitsap 810 700 1,250 1,030 840 -18.4 3.7Kittitas 170 290 370 260 190 -26.9 11.8Klickitat 60 70 80 70 40 -42.9 -33.3

Lewis 180 250 330 240 190 -20.8 5.6Lincoln 1 0 1 1 1 0 0Mason 180 270 340 240 210 -12.5 16.7

Okanogan 70 110 120 90 70 -22.2 0Pacific 90 120 140 130 100 -23.1 11.1Pend 40 70 70 60 40 -33.3 0Pierce 2,420 3,640 3,660 2,990 2,720 -9 12.4

San Juan 60 70 100 80 60 -25 0Skagit 370 590 590 460 380 -17.4 2.7

Skamania 9 70 80 60 30 -50 233.3Snohomish 1,900 2,950 2,960 2,340 2,000 -14.5 5.3

Spokane 1,300 2,220 2,360 1,160 1,310 12.9 0.8Stevens 130 200 200 180 130 -27.8 0

Thurston 760 1,100 1,160 930 850 -8.6 11.8Wahkiakum 40 20 30 30 10 -66.7 -75Walla Walla 20 230 320 160 150 -6.2 650

Whatcom 570 870 930 680 570 -16.2 0Whitman 50 1,560 160 90 60 -33.3 20Yakima 370 510 510 460 340 -26.1 -8.1

Statewide 18,152 29,501 29,213 22,809 19,025 -16.6 4.8


EXISTING HOME SALES

State of Washington and CountiesAnnual, 2010-2015

County 2010 2011 2012 2013 2014 2015% Change

by yearAdams 150 170 120 90 100 90 -10Asotin 260 190 190 220 240 320 33.3Benton 2,590 2,500 2,560 2,940 3,050 4,030 32.1Chelan 570 570 730 810 550 740 34.5Clallam 720 710 710 950 810 630 -22.2Clark 4,900 5,100 5,420 6,560 6,410 6,620 3.3

Columbia 80 70 70 110 90 190 111.1Cowlitz 740 810 790 1,060 1,050 1,240 18.1Douglas 280 320 340 460 380 430 13.2

Ferry 0 0 4 5 5 6 20Franklin 870 840 860 990 1,020 1,350 32.4Garfield 50 40 40 40 50 60 20Grant 630 700 590 980 830 870 4.8

Grays Harbor 980 1,260 950 1,130 1,310 1,360 3.8Island 1,220 990 1,110 1,870 1,570 1,750 11.5

Jefferson 300 320 410 510 560 640 14.3King 18,110 19,770 21,920 25,650 25,180 26,370 4.7

Kitsap 2,750 2,620 2,940 3,650 3,920 3,780 -3.6Kittitas 610 590 880 840 880 1,090 23.9Klickitat 120 180 190 230 240 270 12.5

Lewis 600 660 870 1,110 910 1,010 11Lincoln 4 7 4 2 7 3 -57.1Mason 600 640 700 830 1,030 1,030 0

Okanogan 230 200 280 330 340 390 14.7Pacific 350 260 280 360 400 480 20Pend 170 180 190 270 210 240 14.3Pierce 8,290 9,250 8,980 11,230 11,450 12,710 11

San Juan 170 140 230 310 310 300 -3.2Skagit 1,200 1,520 1,350 1,760 1,840 2,010 9.2

Skamania 150 120 160 210 210 220 4.8Snohomish 9,190 7,900 8,480 9,430 9,240 10,150 9.8

Spokane 4,750 4,470 3,330 6,190 7,600 7,040 -7.4Stevens 500 520 570 790 630 710 12.7

Thurston 2,990 4,320 2,910 6,270 3,620 3,950 9.1Wahkiakum 60 40 80 50 140 120 -14.3Walla Walla 550 510 560 660 710 720 1.4

Whatcom 2,010 2,530 2,190 3,360 2,690 3,050 13.4Whitman 220 260 300 400 330 1,860 463.6Yakima 1,370 1,240 1,310 1,520 1,670 1,850 10.8

Statewide 69,334 72,517 73,598 94,177 91,582 99,679 8.8

Number of single-family units sold, excluding new construction.


MEDIAN HOME PRICES

State of Washington and CountiesTime Trend

County 15:Q2 15:Q3 15:Q4 15 Annual 16:Q1 16:Q2% Change

by yearAdams $ 155,000 $ 130,000 $ 128,000 $ 140,800 $ 113,300 $ 153,300 -1.1Asotin $ 173,300 $ 178,700 $ 172,900 $ 170,300 $ 165,000 $ 182,500 5.3Benton $ 205,000 $ 201,900 $ 208,600 $ 201,200 $ 217,500 $ 225,300 9.9Chelan $ 277,300 $ 280,900 $ 256,100 $ 269,200 $ 249,400 $ 270,200 -2.6Clallam $ 215,500 $ 231,400 $ 215,000 $ 219,300 $ 225,000 $ 259,500 20.4Clark $ 266,900 $ 268,600 $ 268,900 $ 262,900 $ 279,100 $ 293,400 9.9

Columbia $ 160,000 $ 171,000 $ 70,000 $ 166,900 $ 250,000 $ 150,000 -6.2Cowlitz $ 184,400 $ 188,100 $ 177,700 $ 179,100 $ 180,400 $ 207,400 12.5Douglas $ 248,500 $ 245,000 $ 233,100 $ 238,300 $ 243,700 $ 253,900 2.2

Ferry $ 130,000 $ 160,000 $ 145,000 $ 127,500 $ 85,000 $ 100,000 -23.1Franklin $ 205,000 $ 201,900 $ 208,600 $ 201,200 $ 217,500 $ 225,300 9.9Garfield $ 173,300 $ 178,700 $ 172,900 $ 170,300 $ 165,000 $ 182,500 5.3Grant $ 165,000 $ 179,300 $ 151,500 $ 165,500 $ 168,000 $ 189,200 14.7

Grays Harbor $ 141,100 $ 143,700 $ 154,800 $ 138,800 $ 140,700 $ 154,800 9.7Island $ 285,800 $ 298,000 $ 313,200 $ 290,700 $ 296,100 $ 318,800 11.5

Jefferson $ 261,400 $ 297,400 $ 288,500 $ 276,300 $ 297,100 $ 325,000 24.3King $ 495,500 $ 491,000 $ 494,500 $ 486,100 $ 522,500 $ 568,400 14.7

Kitsap $ 263,900 $ 269,200 $ 267,800 $ 260,300 $ 272,400 $ 292,100 10.7Kittitas $ 247,300 $ 240,600 $ 246,900 $ 243,700 $ 257,600 $ 246,300 -0.4Klickitat $ 239,300 $ 225,000 $ 150,000 $ 204,900 $ 213,900 $ 275,000 14.9

Lewis $ 157,500 $ 160,800 $ 159,600 $ 158,800 $ 156,800 $ 179,200 13.8Lincoln $ 85,000 $ 75,000 $ 85,000 $ 80,000 $ 110,000 $ 65,000 -23.5Mason $ 175,000 $ 173,800 $ 174,500 $ 170,500 $ 172,500 $ 191,300 9.3

Okanogan $ 149,000 $ 190,000 $ 180,000 $ 167,400 $ 162,000 $ 169,200 13.6Pacific $ 154,200 $ 157,500 $ 143,600 $ 141,600 $ 131,200 $ 145,000 -6Pend $ 177,800 $ 151,200 $ 140,000 $ 150,400 $ 153,300 $ 161,200 -9.3Pierce $ 255,600 $ 254,300 $ 254,800 $ 251,000 $ 255,600 $ 279,400 9.3

San Juan $ 400,000 $ 430,800 $ 493,700 $ 445,700 $ 558,300 $ 420,800 5.2Skagit $ 243,900 $ 271,700 $ 268,300 $ 257,800 $ 262,300 $ 296,600 21.6

Skamania $ 193,300 $ 225,000 $ 262,500 $ 217,600 $ 250,000 $ 220,000 13.8Snohomish $ 364,400 $ 361,100 $ 359,800 $ 358,900 $ 375,300 $ 389,800 7

Spokane $ 191,400 $ 199,400 $ 191,100 $ 192,200 $ 192,700 $ 209,500 9.5Stevens $ 177,800 $ 151,200 $ 140,000 $ 150,400 $ 153,300 $ 161,200 -9.3

Thurston $ 246,500 $ 257,100 $ 247,800 $ 246,800 $ 247,900 $ 268,000 8.7Wahkiakum $ 175,000 $ 183,300 $ 214,300 $ 167,500 $ 225,000 $ 208,300 19Walla Walla $ 197,800 $ 182,700 $ 178,700 $ 185,800 $ 201,000 $ 208,000 5.2

Whatcom $ 294,800 $ 292,200 $ 294,200 $ 289,600 $ 304,700 $ 299,800 1.7Whitman $ 205,000 $ 207,400 $ 200,000 $ 204,700 $ 207,100 $ 236,000 15.1Yakima $ 169,600 $ 173,600 $ 163,800 $ 166,800 $ 177,400 $ 184,200 8.6

Statewide $ 286,100 $ 292,400 $ 292,900 $ 286,200 $ 289,400 $ 317,500 11

WCRER Estimates


HOME PRICES BY BEDROOMS

State of Washington and CountiesSecond Quarters

2 bedrooms 3 bedrooms 4+ bedrooms

County 2015 2016%

Change 2015 2016%

Change 2015 2016%

ChangeAdams $ 60,000 $ 95,000 58.3 $ 153,300 $ 182,500 19 $ 166,700 $ 160,000 -4Asotin $ 120,000 $ 122,200 1.8 $ 174,300 $ 186,200 6.8 $ 214,300 $ 220,800 3Benton $ 110,800 $ 115,400 4.2 $ 183,500 $ 207,900 13.3 $ 252,000 $ 282,100 11.9Chelan $ 196,000 $ 204,500 4.3 $ 286,400 $ 271,700 -5.1 $ 350,000 $ 305,900 -12.6Clallam $ 175,000 $ 222,900 27.4 $ 233,300 $ 268,900 15.3 $ 225,000 $ 268,700 19.4Clark $ 171,300 $ 213,300 24.5 $ 239,400 $ 270,700 13.1 $ 334,400 $ 371,500 11.1

Columbia $ 116,700 $ 70,000 -40 $ 170,000 $ 165,000 -2.9 $ 160,000 $ 160,000 0Cowlitz $ 108,300 $ 130,000 20 $ 180,600 $ 206,900 14.6 $ 240,800 $ 262,000 8.8Douglas $ 206,200 $ 140,000 -32.1 $ 254,200 $ 246,700 -3 $ 275,000 $ 341,200 24.1

Ferry $ 140,000 $ 85,000 -39.3 $ 80,000 $ 100,000 25 $ 30,000 $ 225,000 650Franklin $ 110,800 $ 115,400 4.2 $ 183,500 $ 207,900 13.3 $ 252,000 $ 282,100 11.9Garfield $ 120,000 $ 122,200 1.8 $ 174,300 $ 186,200 6.8 $ 214,300 $ 220,800 3Grant $ 112,000 $ 112,500 0.4 $ 158,300 $ 178,200 12.6 $ 218,300 $ 232,100 6.3

Grays Harbor $ 121,700 $ 141,200 16 $ 149,000 $ 160,000 7.4 $ 166,000 $ 187,500 13Island $ 258,000 $ 297,500 15.3 $ 288,700 $ 317,100 9.8 $ 362,500 $ 358,000 -1.2

Jefferson $ 241,700 $ 286,100 18.4 $ 269,600 $ 345,200 28 $ 312,500 $ 416,700 33.3King $ 392,000 $ 437,000 11.5 $ 433,300 $ 500,800 15.6 $ 618,300 $ 682,000 10.3

Kitsap $ 169,100 $ 220,800 30.6 $ 264,300 $ 289,300 9.5 $ 320,000 $ 355,100 11Kittitas $ 193,300 $ 200,000 3.5 $ 246,700 $ 248,900 0.9 $ 296,400 $ 330,000 11.3Klickitat $ 183,300 $ 275,000 50 $ 237,500 $ 243,700 2.6 $ 280,000 $ 362,500 29.5

Lewis $ 126,200 $ 134,500 6.6 $ 168,300 $ 187,500 11.4 $ 175,000 $ 210,000 20Lincoln $ 85,000 $ 47,500 -44.1 $ 80,000 $ 70,000 -12.5 $ 30,000 $ 30,000 0Mason $ 145,500 $ 156,700 7.7 $ 189,400 $ 208,900 10.3 $ 193,300 $ 237,500 22.9

Okanogan $ 138,600 $ 155,000 11.8 $ 150,000 $ 172,900 15.3 $ 208,300 $ 190,000 -8.8Pacific $ 124,000 $ 127,000 2.4 $ 165,000 $ 186,700 13.2 $ 190,000 $ 170,000 -10.5Pend $ 135,000 $ 133,300 -1.3 $ 173,300 $ 170,000 -1.9 $ 232,100 $ 200,000 -13.8Pierce $ 157,600 $ 188,000 19.3 $ 234,800 $ 258,500 10.1 $ 302,500 $ 335,000 10.7

San Juan $ 400,000 $ 450,000 12.5 $ 408,300 $ 375,000 -8.2 $ 383,300 $ 750,000 95.7Skagit $ 171,700 $ 211,400 23.1 $ 237,800 $ 287,700 21 $ 330,800 $ 361,800 9.4

Skamania $ 180,000 $ 190,000 5.6 $ 190,000 $ 206,200 8.5 $ 200,000 $ 300,000 50Snohomish $ 233,200 $ 239,400 2.7 $ 322,900 $ 353,000 9.3 $ 446,600 $ 469,900 5.2

Spokane $ 106,700 $ 122,400 14.7 $ 169,200 $ 190,200 12.4 $ 231,800 $ 247,300 6.7Stevens $ 135,000 $ 133,300 -1.3 $ 173,300 $ 170,000 -1.9 $ 232,100 $ 200,000 -13.8

Thurston $ 193,800 $ 217,600 12.3 $ 228,200 $ 246,700 8.1 $ 291,700 $ 318,500 9.2Wahkiakum $ 160,000 $ 30,000 -81.2 $ 170,000 $ 208,300 22.5 $ 190,000 $ 30,000 -84.2Walla Walla $ 127,800 $ 120,000 -6.1 $ 197,100 $ 213,900 8.5 $ 236,800 $ 283,300 19.6

Whatcom $ 201,100 $ 230,000 14.4 $ 287,700 $ 294,800 2.5 $ 356,000 $ 349,500 -1.8Whitman $ 110,800 $ 142,000 28.2 $ 183,500 $ 221,300 20.6 $ 252,000 $ 297,700 18.1Yakima $ 95,000 $ 96,500 1.6 $ 171,500 $ 183,400 6.9 $ 213,000 $ 245,000 15

Statewide $ 188,500 $ 218,700 16 $ 255,900 $ 286,900 12.1 $ 366,600 $ 394,800 7.7

WCRER Estimates


HOUSING AFFORDABILITY INDEX

State of Washington and CountiesSecond Quarter 2016

CountyMedian

PriceMortgage

RateMonthlyPayment

MedianFamilyIncome HAI

StarterMonthlyPayment

MedianHousehold

Income

FirstTimeHAI

Adams $ 153,300 3.85 $ 575 $ 48,200 174.7 $ 567 $ 39,297 101.1Asotin $ 182,500 3.85 $ 684 $ 58,600 178.4 $ 675 $ 47,789 103.3Benton $ 225,300 3.85 $ 845 $ 69,950 172.5 $ 833 $ 64,795 113.5Chelan $ 270,200 3.85 $ 1,013 $ 70,800 145.6 $ 999 $ 56,096 81.9Clallam $ 259,500 3.85 $ 973 $ 60,900 130.4 $ 959 $ 79,462 120.8Clark $ 293,400 3.85 $ 1,100 $ 76,500 144.8 $ 1,085 $ 63,011 84.7

Columbia $ 150,000 3.85 $ 563 $ 61,600 228.1 $ 554 $ 54,875 144.3Cowlitz $ 207,400 3.85 $ 778 $ 61,900 165.8 $ 767 $ 51,328 97.6Douglas $ 253,900 3.85 $ 952 $ 68,850 150.6 $ 939 $ 52,278 81.2

Ferry $ 100,000 3.85 $ 375 $ 48,850 271.4 $ 370 $ 26,222 103.5Franklin $ 225,300 3.85 $ 845 $ 69,950 172.5 $ 833 $ 32,314 56.6Garfield $ 182,500 3.85 $ 684 $ 52,650 160.3 $ 675 $ 52,233 112.9Grant $ 189,200 3.85 $ 710 $ 54,550 160.2 $ 699 $ 43,689 91.1

GraysHarbor $ 154,800 3.85 $ 581 $ 54,550 195.7 $ 572 $ 44,563 113.6Island $ 318,800 3.85 $ 1,196 $ 76,000 132.4 $ 1,178 $ 72,084 89.2

Jefferson $ 325,000 3.85 $ 1,219 $ 66,450 113.6 $ 1,201 $ 56,484 68.6King $ 568,400 3.85 $ 2,132 $ 94,400 92.3 $ 2,101 $ 76,655 53.2

Kitsap $ 292,100 3.85 $ 1,096 $ 79,450 151.1 $ 1,080 $ 77,425 104.6Kittitas $ 246,300 3.85 $ 924 $ 66,050 149 $ 910 $ 42,602 68.2Klickitat $ 275,000 3.85 $ 1,031 $ 51,850 104.7 $ 1,017 $ 44,166 63.4

Lewis $ 179,200 3.85 $ 672 $ 58,950 182.7 $ 662 $ 55,184 121.5Lincoln $ 65,000 3.85 $ 244 $ 56,650 484.1 $ 240 $ 60,336 366.2Mason $ 191,300 3.85 $ 717 $ 63,000 182.9 $ 707 $ 32,453 66.9

Okanogan $ 169,200 3.85 $ 635 $ 53,750 176.5 $ 625 $ 50,994 118.9Pacific $ 145,000 3.85 $ 544 $ 55,150 211.3 $ 536 $ 38,374 104.4Pend $ 161,200 3.85 $ 605 $ 50,450 173.8 $ 596 $ 38,235 93.6Pierce $ 279,400 3.85 $ 1,048 $ 74,850 148.8 $ 1,033 $ 52,068 73.5

SanJuan $ 420,800 3.85 $ 1,578 $ 68,600 90.6 $ 1,555 $ 46,961 44Skagit $ 296,600 3.85 $ 1,112 $ 69,050 129.3 $ 1,096 $ 41,261 54.9

Skamania $ 220,000 3.85 $ 825 $ 76,500 193.2 $ 813 $ 52,685 94.5Snohomish $ 389,800 3.85 $ 1,462 $ 87,450 124.6 $ 1,441 $ 67,540 68.4

Spokane $ 209,500 3.85 $ 786 $ 65,700 174.2 $ 774 $ 55,155 103.9Stevens $ 161,200 3.85 $ 605 $ 76,400 194.5 $ 596 $ 61,397 108.3

Thurston $ 268,000 3.85 $ 1,005 $ 56,450 162.7 $ 991 $ 44,260 83.1Wahkiakum $ 208,300 3.85 $ 781 $ 78,500 155.7 $ 770 $ 56,449 53WallaWalla $ 208,000 3.85 $ 780 $ 58,400 162.6 $ 769 $ 27,994 109.9Whatcom $ 299,800 3.85 $ 1,124 $ 60,900 132.1 $ 1,108 $ 57,944 74.6Whitman $ 236,000 3.85 $ 885 $ 71,300 151.8 $ 872 $ 56,705 86.1Yakima $ 184,200 3.85 $ 691 $ 64,500 161.8 $ 681 $ 51,484 93

Statewide$

317,500 3.85 $ 1,191 $ 53,650 133.7 $ 1,174 $ 43,425 76.3

Source: Runstad Center EstimatesHousing Affordbbility Index measures the ability of a middle income family to carry the mortgage payments on a median price home. When the index is 100 there is a balancebetween the family’s ability to pay and the cost. Higher indexes indicate housing is more affordable.All loans are assumed to be 30 year loans.All buyer index assumes 20% downpayment. First-time buyer index assumes 10% down.It is assumed 25% of income can be used for principal and interest payments.



State of Washington and CountiesTime Trend

County 13:Q4 14:Q1 14:Q2 14:Q3 14:Q4 15:Q1 15:Q2 15:Q3 15:Q4 16:Q1 16:Q2Adams 168 181 179 208 251 177 168 196 202 231 174Asotin 190 190 184 176 195 203 183 173 182 192 178Benton 187 196 192 186 184 205 184 183 180 174 172Chelan 142 141 147 136 147 144 134 131 146 153 145Clallam 151 137 154 148 161 156 153 139 152 147 130Clark 168 164 160 155 157 169 155 151 152 148 144Columbia 178 228 245 228 257 207 208 191 472 133 228Cowlitz 211 215 192 196 193 199 181 174 187 186 165Douglas 152 156 156 146 145 160 146 146 156 152 150Ferry 287 162 146 210 424 375 203 161 180 312 271Franklin 187 196 192 186 184 205 184 183 180 174 172Garfield 171 171 165 158 176 183 164 156 163 173 160Grant 169 169 179 171 178 184 179 161 193 176 160Grays Harbor 226 271 216 220 227 270 209 201 189 210 195Island 147 158 148 144 140 159 144 135 130 139 132Jefferson 123 145 139 131 122 148 137 118 123 121 113King 111 112 105 105 109 112 103 101 102 98 92Kitsap 166 171 165 164 170 181 162 156 159 158 151Kittitas 148 154 156 146 159 149 144 145 143 139 149Klickitat 141 188 122 150 137 146 117 122 185 131 104Lewis 230 219 202 191 192 203 203 194 198 204 182Lincoln 406 406 209 356 370 436 361 400 358 279 484Mason 205 221 202 199 206 235 195 192 194 198 182Okanogan 173 190 191 190 165 190 195 150 160 180 176Pacific 312 221 215 251 220 247 193 185 206 228 211Pend 249 221 165 182 176 217 153 176 193 178 173Pierce 173 167 165 165 168 171 158 156 157 159 148San Juan 82 88 90 78 83 72 93 84 74 66 90Skagit 147 150 150 153 144 152 153 134 138 143 129Skamania 213 261 267 168 213 294 214 180 156 166 193Snohomish 143 140 134 135 137 136 129 128 130 126 124Spokane 192 196 188 183 193 196 186 174 184 185 174Stevens 280 248 185 204 198 243 172 198 216 200 194Thurston 178 181 176 170 174 183 172 162 170 172 162Wahkiakum 188 389 229 142 1,015 419 180 168 146 140 155Walla Walla 169 174 179 170 183 273 166 176 183 164 162Whatcom 131 143 132 132 136 140 130 129 130 127 132Whitman 155 188 154 154 174 177 170 165 173 169 151Yakima 169 175 172 168 172 183 171 163 176 164 161Statewide 149 153 144 143 150 153 144 138 140 143 133

WCRER EstimatesNotes: Housing Affordability Index measures the ability of a middle income family to carry the mortgage payments on a median price home. When the index is 100 there is a balancebetween the family’s ability to pay and the cost. Higher indexes indicate housing is more affordable.All loans are assumed to be 30 year loans.All buyer index assumes 20% downpayment.It is assumed 25% of income can be used for principal and interest payments.



First-time BuyersState of Washington and CountiesTime Trend

County 13:Q4 14:Q1 14:Q2 14:Q3 14:Q4 15:Q1 15:Q2 15:Q3 15:Q4 16:Q1 16:Q2Adams 103 110 108 125 151 105 99 115 118 134 101Asotin 104 105 102 98 109 114 103 99 104 111 103Benton 123 128 126 122 121 134 121 120 118 114 113Chelan 80 79 83 76 83 81 75 73 82 86 81Clallam 104 97 113 113 126 126 127 119 134 132 120Clark 94 92 91 88 90 97 89 87 88 86 84

Columbia 97 127 139 131 150 122 125 116 291 83 144Cowlitz 114 118 106 109 109 113 103 100 108 108 97Douglas 85 87 87 81 80 88 80 79 85 82 81

Ferry 139 77 68 95 187 162 85 66 72 122 103Franklin 87 88 83 78 75 81 70 67 63 59 56Garfield 114 115 112 107 120 125 113 108 114 121 112Grant 98 98 104 99 102 106 102 92 110 100 91

Grays Harbor 127 153 122 125 129 155 120 116 109 121 113Island 88 96 91 90 88 101 92 88 86 92 89

Jefferson 68 80 78 74 70 85 80 69 73 72 68King 61 62 59 59 61 63 58 58 58 56 53

Kitsap 100 105 102 103 109 117 107 104 107 108 104Kittitas 69 72 72 68 73 69 66 67 66 63 68Klickitat 87 116 75 92 84 89 71 74 112 79 63

Lewis 131 127 119 114 117 126 127 124 128 133 121Lincoln 269 273 142 246 259 310 260 292 264 209 366Mason 98 103 92 88 89 99 79 76 75 74 66

Okanogan 100 111 114 115 101 119 124 96 105 119 118Pacific 157 111 108 125 110 123 96 92 102 113 104Pend 137 121 90 99 96 118 83 95 104 96 93Pierce 92 88 86 86 86 87 80 79 79 79 73

San Juan 44 47 47 41 43 37 47 42 37 32 44Skagit 76 77 75 75 69 71 70 61 61 62 54

Skamania 106 130 133 83 105 145 105 88 76 81 94Snohomish 78 77 73 74 75 74 71 70 71 69 68

Spokane 108 111 107 105 111 114 108 102 109 109 103Stevens 153 136 101 112 109 134 95 109 120 111 108

Thurston 98 99 95 91 92 97 90 84 88 88 83Wahkiakum 89 178 102 61 425 169 70 64 53 49 53Walla Walla 103 107 111 107 116 175 108 116 121 110 109

Whatcom 72 78 72 73 75 77 72 72 73 71 74Whitman 71 88 74 75 87 91 89 88 94 94 86Yakima 97 101 99 97 99 105 98 94 101 94 93

Statewide 83 86 81 80 84 86 81 78 79 81 76

WCRER EstimatesNotes: Housing Affordability Index measures the ability of a middle income family to carry the mortgage payments on a median price home. When the index is 100 there is a balancebetween the family’s ability to pay and the cost. Higher indexes indicate housing is more affordable.All loans are assumed to be 30 year loans.All buyer index assumes 20% downpayment.It is assumed 25% of income can be used for principal and interest payments.


% OF HOMES ON MARKET BELOW SPECIFIED PRICE

State of Washington and CountiesEnd of Second Quarter 2016

County $80,000 $160,000 $250,000 $500,000Adams 22 58.5 80.5 100Asotin 2.3 24.8 61.9 96.1Benton 4.2 17 42.8 91.3Chelan 0.3 7.8 25.6 69.8Clallam 0.9 5.9 24.1 72.2Clark 0.3 2.9 16.6 67.2

Columbia 6 26.9 56.7 91.8Cowlitz 4.1 20.7 48.7 91.5Douglas 1.9 8.5 31.1 80.2

Ferry 18.2 50 80.3 97Franklin 4.2 17 42.8 91.3Garfield 2.3 24.8 61.9 96.1Grant 4.9 27.6 54.1 94.1

Grays Harbor 12.6 38.5 63.8 89.9Island 0.4 2.1 11.8 56.6

Jefferson 2.6 11.7 19.8 63.7King 0 0.5 3.3 34.1

Kitsap 0.3 4.4 17.9 67.2Kittitas 0.7 7.7 29 61.6Klickitat 3.8 25.6 45.6 73.8

Lewis 6 31 65 90.6Lincoln 32.3 64.5 83.9 96.8Mason 7.1 28.8 54.3 90.6

Okanogan 3 24.9 46 86.3Pacific 10.6 41.4 67.5 91.8Pend 7.7 36.8 62.5 92.3Pierce 0.8 6.3 24 74.4

San Juan 0.6 0.9 5.8 26.9Skagit 2.2 7.2 24.9 67.4

Skamania 0 31.8 52.3 84.1Snohomish 0.2 2.6 8.2 61.7

Spokane 3 24.7 55.1 88.8Stevens 7.7 36.8 62.5 92.3

Thurston 1.5 7.4 27.8 84.4Wahkiakum 0 0 0 0Walla Walla 6 26.9 56.7 91.8

Whatcom 4.3 7.8 19.4 63.6Whitman 5.4 27.2 55.1 98.6Yakima 7.2 32.3 61.8 94.8

Statewide 2.8 14.1 32.4 72.6

WCRER Estimates


LISTINGS AVAILABLE FOR SALE

State of Washington and CountiesEnd of Second Quarters

County 2010 2011 2012 2013 2014 2015 2016 % ChangeAdams 0 0 0 87 56 46 41 -10.9Asotin 0 0 435 336 355 341 307 -10Benton 1,512 1,813 1,854 1,804 1,584 1,267 1,019 -19.6Chelan 0 0 541 482 403 259 348 34.4Clallam 783 736 640 628 427 298 320 7.4Clark 3,494 3,253 2,580 2,344 1,206 105 1,144 989.5

Columbia 0 0 547 25 494 416 450 8.2Cowlitz 0 0 588 454 534 404 271 -32.9Douglas 0 0 201 161 146 120 106 -11.7

Ferry 0 0 75 75 89 67 66 -1.5Franklin 1,512 1,813 1,854 1,804 1,584 1,267 1,019 -19.6Garfield 0 0 435 336 355 341 307 -10Grant 0 0 584 582 524 487 410 -15.8

Grays Harbor 0 0 827 774 802 605 525 -13.2Island 0 0 924 857 780 585 482 -17.6

Jefferson 0 0 531 477 427 360 273 -24.2King 0 0 4,997 4,209 4,707 3,399 3,140 -7.6

Kitsap 0 0 1,503 1,388 1,416 46 750 1530.4Kittitas 0 0 525 459 505 438 297 -32.2Klickitat 265 271 242 249 46 185 160 -13.5

Lewis 0 0 722 723 670 633 403 -36.3Lincoln 0 0 0 51 42 45 31 -31.1Mason 0 0 820 801 780 606 468 -22.8

Okanogan 0 0 437 469 531 465 430 -7.5Pacific 0 0 441 435 434 319 292 -8.5Pend 0 0 551 558 545 467 429 -8.1Pierce 0 0 3,481 2,976 3,775 2,905 2,285 -21.3

San Juan 0 0 468 432 452 398 342 -14.1Skagit 0 0 903 792 808 593 503 -15.2

Skamania 105 109 101 107 17 66 44 -33.3Snohomish 0 0 1,985 1,747 2,438 1,913 1,474 -22.9

Spokane 3,943 3,651 0 3,098 3,290 2,768 2,304 -16.8Stevens 0 0 551 558 545 467 429 -8.1

Thurston 0 0 1,329 1,158 1,393 1,088 969 -10.9Wahkiakum 0 0 0 0 0 44 0 -100Walla Walla 0 0 547 543 494 467 450 -3.6

Whatcom 0 0 1,358 1,306 1,430 1,049 845 -19.4Whitman 0 0 216 200 183 1,267 147 -88.4Yakima 1,178 1,213 874 896 873 885 694 -21.6

Statewide 12,792 12,859 34,667 34,381 35,140 27,481 23,974 -12.8

WCRER Estimates


MONTH’S SUPPLY OF HOUSING BY PRICE RANGE

State of Washington and CountiesMarch 2016

CountyUnder

$80,000$80,000-$159,999

$160,000-$249,999

$250,000-$499,999

$500,000and above

TotalMarket

Market2015

Market2014

Adams 5.6 4.3 3.1 3.1 NA 4.3 6.6 6.3Asotin 2.9 3.4 4.4 9.7 39.7 5.1 4.4 6.6Benton 3.5 2.7 1.6 2.6 8.9 2.7 3.1 5.5Chelan 0.8 3.6 2.9 4.3 17.8 4.8 4.8 8.3Clallam 0.8 1.6 2 3.5 14.4 3.4 5.9 7.9Clark 1.2 2.1 1.1 1.6 6.2 2 0.2 3.3

Columbia 32.2 84 95.8 564.8 NA 123.7 106.2 92.9Cowlitz 2.1 1.9 2 3.1 2.9 2.6 4.4 7Douglas 6.5 1.3 1.7 2.6 13.6 2.6 4.7 5.5

Ferry 19 22.2 21.2 9.5 NA 21 35.5 40.4Franklin 3.5 2.7 1.6 2.6 8.9 2.7 3.1 5.5Garfield 2.9 3.4 4.4 9.7 39.7 5.1 4.4 6.6Grant 3.3 5.1 4.6 10.4 3.9 6.3 8.3 9.4

Grays Harbor 3.7 4.7 5.4 6 NA 5.9 7.3 12.2Island 1.5 1.6 1.4 2.1 7.9 3 4.3 7.4

Jefferson 2.6 4.4 2.3 3.2 7 4.6 7.6 9.6King 0.5 1.9 1.2 1.2 2.4 1.5 1.6 2.5

Kitsap 0.6 1.5 1.1 1.9 4.9 2.2 0.2 5.1Kittitas NA 2.1 2.6 2.9 33.2 4.5 6.7 9.4Klickitat 4.8 10.3 9.4 5.4 22.6 8.8 10.1 3

Lewis 2.4 3.7 4 5.5 NA 4.5 8.8 10Lincoln 5.4 32.4 NA NA NA 14.3 29.1 2Mason 4.5 4.3 4.7 6.2 11.1 5.6 7.9 10.5

Okanogan 7.5 9.9 10.6 20.3 52.4 12.5 14.9 26.4Pacific 5.3 10.1 11.8 19.1 11 16 8.7 15.2Pend NA NA NA NA NA NA 12.4 19.4Pierce 3.9 5.8 7.1 10.3 NA 7.2 2.8 4.5

San Juan 1.9 1.7 1.2 1.7 6.2 2 17.8 15.6Skagit NA 1.4 11.8 2.2 14.8 14.6 3.8 6.3

Skamania 3.9 1.7 2 2.2 12 2.9 6.8 1.7Snohomish 0 5.1 2.9 3.4 NA 4.3 2.3 3.5

Spokane 0.9 3.2 1 1.2 2.6 1.6 4.5 6.5Stevens NA NA NA NA NA NA 12.4 19.4

Thurston 2.8 3.2 2.8 3.9 11.2 3.5 3.6 5.5Wahkiakum 2.3 1.9 1.6 3.3 6.6 2.5 10.6 0Walla Walla 0 0 0 0 0 0 7.1 7.7

Whatcom 12.3 7.1 7.5 9 14.8 8.4 4.3 7.3Whitman 3.2 2.5 1.8 2.1 10.9 3.3 4.1 9.6Yakima 8.8 8.8 3.2 5.4 4.4 4.9 6.3 6.5

Statewide 3.1 3.2 2 2.2 3.9 2.4 2.9 4.5

WCRER Estimates


RESIDENTIAL BUILDING PERMITS

Units AuthorizedState of Washington and Counties, Monthly

Dec 15 Jan 15 Feb 15 Mar 15 % ChangeCounty TOT ONE TOT ONE TOT ONE TOT ONE TOT ONEAdams 0 0 0 0 0 0 0 0 0 0Asotin 0 0 0 0 0 0 0 0 0 0Benton 75 73 69 68 92 88 105 104 24.3 24.4Chelan 9 9 8 8 22 22 23 23 -14.5 -10.2Clallam 6 6 10 10 8 8 9 9 -15.6 -15.6Clark 185 183 161 158 206 204 272 259 12.5 11.3

Columbia 0 0 0 0 0 0 0 0 0 0Cowlitz 9 9 8 8 10 10 15 15 17.9 17.9Douglas 8 8 4 4 8 7 18 18 15.4 11.5

Ferry 0 0 0 0 0 0 0 0 0 0Franklin 27 26 23 22 30 28 35 33 2.3 3.8Garfield 0 0 0 0 1 1 0 0 0 0Grant 13 13 15 11 11 9 29 26 31 12.2

Grays Harbor 13 13 12 12 15 15 11 11 22.6 22.6Island 13 13 11 11 21 21 25 25 11.8 11.8

Jefferson 9 9 10 10 16 16 21 21 88 88King 373 333 379 327 339 307 422 373 10.9 10.2

Kitsap 67 67 62 58 56 56 65 61 -7.1 -10.7Kittitas 17 17 9 6 13 13 29 28 -1.9 -9.6Klickitat 4 4 4 4 2 2 7 7 -7.1 -7.1

Lewis 5 5 15 15 5 5 5 5 -16.7 -16.7Lincoln 1 1 3 3 4 4 4 4 83.3 83.3Mason 6 6 12 12 7 7 10 10 26.1 26.1

Okanogan 2 2 1 1 3 3 11 11 -37.5 -37.5Pacific 3 3 3 3 3 3 5 5 -8.3 -8.3Pend 1 1 2 2 0 0 4 4 -40 -40Pierce 164 161 168 165 173 162 261 245 9.7 9.6

San Juan 8 8 5 5 2 2 9 9 -11.1 -11.1Skagit 31 31 22 22 32 32 32 32 4.9 4.9

Skamania 4 4 0 0 4 4 5 5 0 0Snohomish 219 214 250 246 253 243 337 327 26.1 27.5

Spokane 64 62 57 49 108 101 179 166 8.5 6.4Stevens 3 3 1 1 8 8 8 8 6.2 6.2

Thurston 70 70 46 46 91 90 97 96 8.8 7.9Wahkiakum 1 1 0 0 0 0 0 0 -100 -100Walla Walla 13 13 5 5 11 11 11 11 -18.2 -18.2

Whatcom 44 42 58 54 51 46 54 49 3.8 1.4Whitman 4 2 5 5 5 5 4 3 -53.3 -27.8Yakima 15 15 8 8 15 15 30 30 -13.1 -13.1

Statewide 1,486 1,427 1,446 1,359 1,625 1,548 2,152 2,033 10.8 10.3

Source: U.S. Department of CommerceNotes:1. Percentage change is based on equivalent reports.2. TOT refers to total building permits, both single-family and multi-family.3. ONE refers to building permits for single-family homes only.


RESIDENTIAL BUILDING PERMITS

Value AuthorizedState of Washington and Counties, Monthly

Dec 15 Jan 15 Feb 15 Mar 15 % ChangeCounty TOT ONE TOT ONE TOT ONE TOT ONE TOT ONEAdams $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 0 0Asotin $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 0 0Benton $22.6 $21.2 $20.8 $20.0 $28.8 $26.5 $30.8 $30.2 21.3 23.1Chelan $1.8 $1.8 $2.0 $2.0 $5.0 $5.0 $4.2 $4.2 -10.6 -1.7Clallam $1.2 $1.2 $2.1 $2.1 $1.7 $1.7 $1.5 $1.5 -13.5 -13.5Clark $55.5 $48.9 $44.4 $43.2 $57.2 $52.0 $73.1 $64.3 7.5 9.6

Columbia $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 0 0Cowlitz $2.0 $2.0 $1.8 $1.8 $2.2 $2.2 $3.7 $3.7 23.4 23.4Douglas $2.0 $2.0 $1.0 $1.0 $2.8 $2.5 $5.6 $5.6 39.8 35.4

Ferry $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 0 0Franklin $7.3 $7.1 $6.1 $5.9 $7.8 $7.4 $9.4 $9.0 -2.1 0.8Garfield $0.0 $0.0 $0.0 $0.0 $0.1 $0.1 $0.0 $0.0 0 0Grant $3.8 $3.8 $11.3 $2.8 $4.2 $1.9 $13.5 $6.7 171.1 10.7

Grays Harbor $2.5 $2.5 $2.0 $2.0 $3.1 $3.1 $2.5 $2.5 24.3 24.3Island $4.8 $4.8 $2.8 $2.8 $5.4 $5.4 $6.5 $6.5 2.7 2.7

Jefferson $1.1 $1.1 $2.1 $2.1 $3.8 $3.8 $4.0 $4.0 107.9 107.9King $255.8 $134.1 $229.9 $122.2 $143.5 $108.2 $183.2 $133.2 -20.8 2.7

Kitsap $18.1 $18.1 $19.0 $17.0 $15.8 $15.8 $19.4 $17.9 1 -4.6Kittitas $4.2 $4.2 $1.7 $1.2 $2.8 $2.8 $8.1 $7.8 -0.1 -6.1Klickitat $0.9 $0.9 $0.9 $0.9 $0.3 $0.3 $0.6 $0.6 -36.5 -36.5

Lewis $0.7 $0.7 $2.7 $2.7 $1.0 $1.0 $0.6 $0.6 6.1 6.1Lincoln $0.1 $0.1 $0.6 $0.6 $0.7 $0.7 $0.8 $0.8 143.8 143.8Mason $1.5 $1.5 $5.6 $5.6 $1.8 $1.8 $2.6 $2.6 68.5 68.5

Okanogan $0.3 $0.3 $0.1 $0.1 $0.5 $0.5 $1.6 $1.6 -40.5 -40.5Pacific $0.5 $0.5 $0.5 $0.5 $0.5 $0.5 $0.8 $0.8 -8.3 -8.3Pend $0.3 $0.3 $0.1 $0.1 $0.0 $0.0 $1.0 $1.0 -59 -59Pierce $46.3 $44.7 $49.7 $48.4 $69.0 $48.1 $105.1 $76.3 32.4 16.9

San Juan $2.6 $2.6 $1.2 $1.2 $1.4 $1.4 $2.1 $2.1 -1 -1Skagit $6.3 $6.3 $4.6 $4.6 $6.1 $6.1 $7.1 $7.1 11.7 11.7

Skamania $0.8 $0.8 $0.0 $0.0 $1.0 $1.0 $0.8 $0.8 -12.5 -12.5Snohomish $59.7 $57.7 $67.2 $65.7 $69.9 $65.0 $99.0 $86.7 12 28.7

Spokane $17.2 $14.4 $27.1 $11.9 $32.7 $26.7 $65.4 $41.5 35.9 2.5Stevens $0.5 $0.5 $0.2 $0.2 $1.7 $1.7 $1.8 $1.8 13.3 13.3

Thurston $17.1 $17.1 $11.8 $11.8 $27.4 $23.4 $26.8 $24.6 22.9 11.2Wahkiakum $0.3 $0.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 -100 -100Walla Walla $3.3 $3.3 $0.9 $0.9 $2.9 $2.9 $2.8 $2.8 -23.5 -23.5

Whatcom $14.4 $10.9 $18.6 $13.5 $13.0 $11.2 $16.0 $11.7 -4.1 -4.5Whitman $1.3 $0.6 $1.5 $1.5 $1.5 $1.5 $8.6 $1.0 -13.7 -12.4Yakima $3.5 $3.5 $1.9 $1.9 $3.4 $3.4 $8.3 $8.3 -9.6 -9.6

Statewide $560.4 $419.9 $542.3 $398.3 $518.9 $435.6 $717.2 $569.5 1.6 9.7

Source: U.S. Department of CommerceNotes:1. Percentage change is based on equivalent reports.2. TOT refers to total building permits, both single-family and multi-family.3. ONE refers to building permits for single-family homes only.4. Values calculated in millions of dollars


MEDIAN HOME PRICES


Statewide 2010 2011 2012 2013 2014 2015Adams $ 123,900 $ 120,700 $ 128,300 $ 132,700 $ 127,300 $ 140,800Asotin $ 147,800 $ 155,000 $ 150,600 $ 161,800 $ 160,100 $ 170,300Benton $ 177,500 $ 176,700 $ 183,300 $ 186,600 $ 190,400 $ 201,200Chelan $ 224,800 $ 218,000 $ 220,900 $ 223,900 $ 239,700 $ 269,200Clallam $ 206,400 $ 179,800 $ 191,500 $ 193,400 $ 207,000 $ 219,300Clark $ 212,500 $ 189,800 $ 197,900 $ 229,700 $ 247,600 $ 262,900

Columbia $ 125,000 $ 128,300 $ 145,400 $ 153,700 $ 130,000 $ 166,900Cowlitz $ 156,700 $ 139,100 $ 136,600 $ 150,500 $ 162,000 $ 179,100Douglas $ 212,700 $ 203,300 $ 202,100 $ 207,000 $ 223,000 $ 238,300

Ferry $ NA $ NA $ 95,000 $ 134,000 $ 130,000 $ 127,500Franklin $ 177,500 $ 176,700 $ 183,300 $ 186,600 $ 190,400 $ 201,200Garfield $ 147,800 $ 155,000 $ 150,600 $ 161,800 $ 160,100 $ 170,300Grant $ 161,300 $ 154,100 $ 154,900 $ 156,900 $ 160,200 $ 165,500

Grays Harbor $ 133,200 $ 116,600 $ 113,000 $ 118,800 $ 123,200 $ 138,800Island $ 264,700 $ 248,700 $ 251,200 $ 255,000 $ 266,700 $ 290,700

Jefferson $ 273,000 $ 235,200 $ 239,900 $ 261,400 $ 254,500 $ 276,300King $ 379,100 $ 344,900 $ 367,700 $ 420,500 $ 449,600 $ 486,100

Kitsap $ 241,600 $ 234,700 $ 237,800 $ 242,500 $ 243,500 $ 260,300Kittitas $ 218,400 $ 191,200 $ 194,900 $ 210,900 $ 220,100 $ 243,700Klickitat $ 198,700 $ 178,300 $ 188,300 $ 189,400 $ 180,000 $ 204,900

Lewis $ 152,400 $ 138,600 $ 142,100 $ 141,600 $ 150,500 $ 158,800Lincoln $ 73,600 $ 70,800 $ 82,000 $ 67,500 $ 127,500 $ 80,000Mason $ 170,000 $ 145,700 $ 157,100 $ 152,300 $ 158,500 $ 170,500

Okanogan $ 174,100 $ 161,000 $ 153,200 $ 159,700 $ 151,400 $ 167,400Pacific $ 132,600 $ 121,800 $ 102,300 $ 114,000 $ 125,300 $ 141,600Pend $ 144,200 $ 146,600 $ 133,400 $ 119,800 $ 143,700 $ 150,400Pierce $ 218,700 $ 193,500 $ 194,700 $ 217,700 $ 231,900 $ 251,000

San Juan $ 422,000 $ 413,600 $ 351,400 $ 391,500 $ 419,400 $ 445,700Skagit $ 227,000 $ 203,400 $ 209,400 $ 228,600 $ 236,500 $ 257,800

Skamania $ 160,000 $ 164,000 $ 178,600 $ 188,600 $ 173,700 $ 217,600Snohomish $ 277,300 $ 242,400 $ 261,900 $ 299,100 $ 328,700 $ 358,900

Spokane $ 172,700 $ 162,300 $ 170,100 $ 174,500 $ 178,400 $ 192,200Stevens $ 144,200 $ 146,600 $ 133,400 $ 119,800 $ 143,700 $ 150,400

Thurston $ 230,100 $ 217,700 $ 219,100 $ 224,000 $ 231,400 $ 246,800Wahkiakum $ 150,000 $ 90,000 $ 127,500 $ 145,000 $ 75,000 $ 167,500Walla Walla $ 179,800 $ 170,600 $ 166,500 $ 180,700 $ 176,300 $ 185,800

Whatcom $ 254,000 $ 241,800 $ 252,400 $ 261,600 $ 271,300 $ 289,600Whitman $ 201,700 $ 186,300 $ 196,700 $ 212,900 $ 201,600 $ 204,700Yakima $ 155,100 $ 150,300 $ 161,800 $ 160,100 $ 160,600 $ 166,800

Statewide $ 245,700 $ 223,900 $ 236,600 $ 253,800 $ 267,600 $ 286,200

WCRER Estimates


TOTAL BUILDING PERMITS


County 2007 2008 2009 2010 2011 2012 2013 2014 2015% Change2014-2015

Adams 52 36 69 33 24 29 54 50 86 72Asotin 68 53 35 27 16 19 23 35 31 -11.4Benton 1,017 625 549 1,259 1,127 1,094 930 942 1,124 19.3Chelan 628 311 246 206 154 207 577 304 365 20.1Clallam 732 289 157 169 154 168 122 160 216 35Clark 2,350 1,241 709 1,070 961 1,558 2,942 2,240 3,283 46.6

Columbia 15 7 4 4 4 2 7 7 10 42.9Cowlitz 578 276 147 131 113 132 195 178 173 -2.8Douglas 479 178 109 114 92 92 129 156 162 3.8

Ferry 32 25 21 22 13 15 20 10 16 60Franklin 586 476 542 763 570 531 375 322 510 58.4Garfield 8 10 4 4 2 3 1 3 0 -100Grant 808 662 228 228 187 275 279 264 457 73.1

Grays Harbor 503 334 166 166 114 125 122 142 178 25.4Island 519 329 198 219 164 178 221 252 281 11.5

Jefferson 269 137 106 97 86 83 101 121 177 46.3King 15,579 10,456 3,186 6,020 6,143 11,614 12,277 14,703 15,226 3.6

Kitsap 1,370 783 562 623 540 804 913 598 1,066 78.3Kittitas 549 282 177 183 174 195 344 283 288 1.8Klickitat 134 88 91 77 58 78 94 83 120 44.6

Lewis 507 277 212 204 93 121 95 164 129 -21.3Lincoln 59 30 45 43 32 27 45 30 33 10Mason 435 250 160 140 134 121 135 108 111 2.8

Okanogan 226 230 129 123 130 103 134 165 165 0Pacific 162 87 50 125 111 130 139 63 62 -1.6Pend 147 118 74 52 48 36 37 42 47 11.9Pierce 5,132 2,350 2,047 1,900 2,566 2,479 2,892 3,777 3,046 -19.4

San Juan 207 189 120 189 105 92 109 109 100 -8.3Skagit 807 438 290 207 179 229 283 274 424 54.7

Skamania 82 43 32 25 34 23 26 34 47 38.2Snohomish 4,853 2,706 2,186 2,120 2,521 3,573 4,348 3,473 2,594 -25.3

Spokane 2,777 2,406 1,786 1,609 1,785 1,353 1,634 1,839 1,978 7.6Stevens 252 136 86 72 54 71 84 79 74 -6.3

Thurston 2,603 1,361 1,317 1,156 1,028 1,012 1,289 1,003 931 -7.2Wahkiakum 50 22 11 11 10 5 12 11 15 36.4Walla Walla 229 145 113 128 202 150 241 207 188 -9.2

Whatcom 1,232 669 460 458 605 637 999 1,007 911 -9.5Whitman 298 104 79 90 93 283 380 218 141 -35.3Yakima 1,224 760 508 624 438 471 358 442 392 -11.3

Statewide 47,558 28,919 17,011 20,691 20,864 28,118 32,966 33,898 35,157 3.7

U.S. Department of Commerce


TOTAL HOUSING INVENTORY


% ChangeCounty 2010 2011 2012 2013 2014 2015 2010-5 2014-5Adams 6,218 6,242 6,271 6,325 6,375 6,461 3.9 1.3Asotin 9,784 9,800 9,819 9,842 9,877 9,908 1.3 0.3Benton 67,205 68,332 69,426 70,356 71,298 72,422 7.8 1.6Chelan 34,655 34,809 35,016 35,593 35,897 36,262 4.6 1.0Clallam 35,450 35,604 35,772 35,894 36,054 36,270 2.3 0.6Clark 164,114 165,075 166,633 169,575 171,815 175,098 6.7 1.9

Columbia 2,120 2,124 2,126 2,133 2,140 2,150 1.4 0.5Cowlitz 43,097 43,210 43,342 43,537 43,715 43,888 1.8 0.4Douglas 15,542 15,634 15,726 15,855 16,011 16,173 4.1 1.0

Ferry 4,068 4,081 4,096 4,116 4,126 4,142 1.8 0.4Franklin 24,902 25,472 26,003 26,378 26,700 27,210 9.3 1.9Garfield 1,342 1,344 1,347 1,348 1,351 1,351 0.7 0.0Grant 33,784 33,971 34,246 34,525 34,789 35,246 4.3 1.3

Grays Harbor 35,919 36,033 36,158 36,280 36,422 36,600 1.9 0.5Island 38,178 38,342 38,520 38,741 38,993 39,274 2.9 0.7

Jefferson 16,743 16,829 16,912 17,013 17,134 17,311 3.4 1.0King 856,150 862,293 873,907 886,184 900,887 916,113 7.0 1.7

Kitsap 104,855 105,395 106,199 107,112 107,710 108,776 3.7 1.0Kittitas 20,633 20,807 21,002 21,346 21,629 21,917 6.2 1.3Klickitat 9,778 9,836 9,914 10,008 10,091 10,211 4.4 1.2

Lewis 33,190 33,283 33,404 33,499 33,663 33,792 1.8 0.4Lincoln 5,741 5,773 5,800 5,845 5,875 5,908 2.9 0.6Mason 29,832 29,966 30,087 30,222 30,330 30,441 2.0 0.4

Okanogan 21,131 21,261 21,364 21,498 21,663 21,828 3.3 0.8Pacific 15,203 15,314 15,444 15,583 15,646 15,708 3.3 0.4Pend 7,528 7,576 7,612 7,649 7,691 7,738 2.8 0.6Pierce 327,216 329,782 332,261 335,153 338,930 341,976 4.5 0.9

San Juan 11,863 11,968 12,060 12,169 12,278 12,378 4.3 0.8Skagit 50,319 50,498 50,727 51,010 51,284 51,708 2.8 0.8

Skamania 5,296 5,330 5,353 5,379 5,413 5,460 3.1 0.9Snohomish 287,099 289,620 293,193 297,541 301,014 303,608 5.8 0.9

Spokane 204,274 206,059 207,412 209,046 210,885 212,863 4.2 0.9Stevens 19,295 19,349 19,420 19,504 19,583 19,657 1.9 0.4

Thurston 107,418 108,446 109,458 110,747 111,750 112,681 4.9 0.8Wahkiakum 2,061 2,071 2,076 2,088 2,099 2,114 2.6 0.7Walla Walla 23,422 23,624 23,774 24,015 24,222 24,410 4.2 0.8

Whatcom 89,758 90,363 91,000 91,999 93,006 93,917 4.6 1.0Whitman 19,149 19,242 19,525 19,905 20,123 20,264 5.8 0.7Yakima 86,658 87,096 87,567 87,925 88,367 88,759 2.4 0.4

Statewide 2,870,990 2,891,854 2,919,972 2,952,938 2,986,836 3,021,993 5.3 1.2

Source: WCRER Estimates


SINGLE-FAMILY BUILDING PERMITS


% ChangeCounty 2010 2011 2012 2013 2014 2015 2014-5Adams 33 22 26 44 46 75 63.0Asotin 27 16 19 21 33 31 -6.1Benton 937 781 897 840 798 825 3.4Chelan 204 154 205 259 286 358 25.2Clallam 139 114 168 122 160 215 34.4Clark 963 688 1,190 1,699 1,588 2,220 39.8

Columbia 4 2 2 7 7 10 42.9Cowlitz 116 113 132 155 160 168 5.0Douglas 109 92 92 127 147 132 -10.2

Ferry 22 13 15 20 10 16 60.0Franklin 636 558 374 245 280 396 41.4Garfield 4 2 3 1 3 0 -100.0Grant 205 171 251 236 230 228 -0.9

Grays Harbor 163 104 125 122 140 174 24.3Island 219 164 176 221 252 281 11.5

Jefferson 97 80 83 101 121 154 27.3King 2,578 2,765 3,864 4,419 4,215 4,010 -4.9

Kitsap 468 451 634 674 519 796 53.4Kittitas 177 169 180 285 265 285 7.5Klickitat 77 54 78 88 78 120 53.8

Lewis 124 82 97 95 129 129 0.0Lincoln 41 30 27 45 30 33 10.0Mason 140 134 121 120 108 111 2.8

Okanogan 123 120 103 98 160 164 2.5Pacific 125 111 130 139 63 62 -1.6Pend 52 48 36 37 42 47 11.9Pierce 1,708 1,494 2,009 2,369 2,371 2,253 -5.0

San Juan 189 105 92 109 109 100 -8.3Skagit 203 179 227 283 262 410 56.5

Skamania 25 34 23 26 24 47 95.8Snohomish 1,853 1,819 2,174 1,985 2,079 2,383 14.6

Spokane 939 740 963 1,299 1,014 1,340 32.1Stevens 66 52 67 66 79 74 -6.3

Thurston 1,053 858 959 929 934 881 -5.7Wahkiakum 11 10 5 12 11 15 36.4Walla Walla 66 80 102 134 183 184 0.5

Whatcom 401 419 488 568 542 599 10.5Whitman 62 33 70 100 75 81 8.0Yakima 343 298 301 300 352 390 10.8

Statewide 14,702 13,159 16,508 18,400 17,905 19,797 10.6

Source: U.S. Department of Commerce


SINGLE-FAMILY HOUSING INVENTORY



Columbia 1,661 1,663 1,665 1,672 1,679 1,689 1.7 0.6Cowlitz 30,253 30,366 30,498 30,653 30,813 30,981 2.4 0.5Douglas 10,515 10,607 10,699 10,826 10,973 11,105 5.6 1.2

Ferry 2,901 2,914 2,929 2,949 2,959 2,975 2.6 0.5Franklin 17,151 17,709 18,083 18,328 18,608 19,004 10.8 2.1Garfield 1,024 1,026 1,029 1,030 1,033 1,033 0.9 0.0Grant 20,230 20,401 20,652 20,888 21,118 21,346 5.5 1.1


Jefferson 12,947 13,027 13,110 13,211 13,332 13,486 4.2 1.2King 500,079 502,844 506,708 511,127 515,342 519,352 3.9 0.8




San Juan 10,066 10,171 10,263 10,372 10,481 10,581 5.1 1.0Skagit 37,231 37,410 37,637 37,920 38,182 38,592 3.7 1.1


Spokane 139,995 140,735 141,698 142,997 144,011 145,351 3.8 0.9Stevens 14,165 14,217 14,284 14,350 14,429 14,503 2.4 0.5

Thurston 75,614 76,472 77,431 78,360 79,294 80,175 6.0 1.1Wahkiakum 1,518 1,528 1,533 1,545 1,556 1,571 3.5 1.0Walla Walla 16,422 16,502 16,604 16,738 16,921 17,105 4.2 1.1


Statewide 1,903,484 1,916,643 1,933,151 1,951,551 1,969,456 1,989,253 4.5 1.0



MULTI-FAMILY HOUSING INVENTORY



Columbia 459 461 461 461 461 461 0.4 0.0Cowlitz 12,844 12,844 12,844 12,884 12,902 12,907 0.5 0.0Douglas 5,027 5,027 5,027 5,029 5,038 5,068 0.8 0.6

Ferry 1,167 1,167 1,167 1,167 1,167 1,167 0.0 0.0Franklin 7,751 7,763 7,920 8,050 8,092 8,206 5.9 1.4Garfield 318 318 318 318 318 318 0.0 0.0Grant 13,554 13,570 13,594 13,637 13,671 13,900 2.6 1.7


Jefferson 3,796 3,802 3,802 3,802 3,802 3,825 0.8 0.6King 356,071 359,449 367,199 375,057 385,545 396,761 11.4 2.9




San Juan 1,797 1,797 1,797 1,797 1,797 1,797 0.0 0.0Skagit 13,088 13,088 13,090 13,090 13,102 13,116 0.2 0.1


Spokane 64,279 65,324 65,714 66,049 66,874 67,512 5.0 1.0Stevens 5,130 5,132 5,136 5,154 5,154 5,154 0.5 0.0

Thurston 31,804 31,974 32,027 32,387 32,456 32,506 2.2 0.2Wahkiakum 543 543 543 543 543 543 0.0 0.0Walla Walla 7,000 7,122 7,170 7,277 7,301 7,305 4.4 0.1


Statewide 967,506 975,211 986,821 1,001,387 1,017,380 1,032,740 6.7 1.5



Washington Center for Real Estate ResearchRunstad Center for Real Estate StudiesCollege of Built Environments424 Gould Hall, Box 355740Seattle WA 98195-5740

washington market highlights: second quarter...

Documents