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Builder confidence in the housing market slipped to 32 nationally in August, an 18% decline from last year, according to the NAHB/Wells Fargo Housing Market Index.

A new MBAKS report concludes that Seattle’s Mandatory Housing Affordability fees have cut townhome permit intake by about 87 percent, inflating costs, shrinking middle-housing options, and jeopardizing an estimated $775 million in future construction-related tax revenue, highlighting the urgent need to reform the policy.

As of April 2025, the Puget Sound region added 50,400 new residents—driven largely by Seattle and King County—highlighting ongoing urban and transit-oriented population growth amid a broader statewide slowdown.

Mandatory affordable housing fees and flawed nexus studies can unintentionally discourage new housing by misdiagnosing the root causes of affordability, reinforcing policies that worsen the housing shortage rather than solving it.

The new report shows Washington permit reviews are taking far longer than allowed by law, reinforcing the urgent need for reform. MBAKS highlights this data as proof that faster, more transparent permitting is essential for housing availability.

Builder confidence continues to falter, with the national Housing Market Index (HMI) falling to 32, a 29% drop year over year.

New permit data show a 33% decline in permits in the Seattle metro area in the first quarter of 2025 compared to the same period last year.

Governor Bob Ferguson has signed HB 1096 into law, legalizing residential lot splitting across the state. After three years of advocacy, this landmark reform creates a straightforward, administrative process for homeowners and homebuilders to divide a single lot into two.