meeting packet september 25, 2019 spokane, wa. · issue. they will be having a fact finding meeting...
TRANSCRIPT
WASHINGTON STATE DEPARTMENT OF LICENSING
WASHINGTON REAL ESTATE COMMISSION
Meeting Packet September 25 2019 Spokane WA
DOLWAGOV 1
STATE OF WASHINGTON DEPARTMENT OF LICENSING
PO Box 9021 Olympia Washington 98507-9021
DATE
PLACE
PERSON
REAL ESTATE COMMISSION MEETING AGENDA
September 25 2019
Hilton Garden Inn 9015 W Hwy 2 Spokane WA 99224-9413
Jerry McDonald Administrator (360) 664-6525Email jmcdonalddolwagov
ORDER OF AGENDA OPEN SESSION
CALL TO ORDER Jennifer Clawson Chair Assistant Director 900 am
1 Attendance2 Approval of Agenda3 Approval of June 19 2019 Meeting Minutes4 Budget5 Update on Licensing System6 Agency Updates
a) New Commissioner Updateb) Staff
7 Washington Center for Real Estate Research Report8 Education Report9 ARELLO Update10 Out of State LicenseesApplicants- Update11 Old Business- On hold
a) Team Namesb) Unlicensed Assistantsc) Managing Broker Exam Update
12 Commissioner Topics13 Open Forum14 Action Items15 Adjourn
We are committed to providing equal access to our services For more information visitdolwagovaccess (TDDTTY call 711) 2
STATE OF WASHINGTON DEPARTMENT OF LICENSING
PO Box 9021 Olympia Washington 98507-9021
REAL ESTATE COMMISSION MEETING MINUTES
DATE June 19 2019
PLACE Best Western Plus - Oak Harbor Hotel and Conference Center ndash Whidbey Room 33175 State Route 20 Oak Harbor WA 98277
CALL TO ORDER Jennifer Clawson Chair Assistant Director 900 am
Presentation of Award to Dave Azose for his years of service as a commissioner on the Real Estate Commissions
1 Attendance Commissioners Shari Song Kyoko Wright Dave Azose Sabrina Jones-Schroeder and Chair Jennifer Clawson were present Commissioners Jess Salazar andJeff Thompson were excused
2 Approval of Agenda Motion was made seconded and all approved with a slightvariation on adding 61 Agency updates by Jennifer Clawson
3 Approval of March 27th 2019 Meeting Minutes Motion was made seconded and allapproved
4 Election of Vice Chair
Two issues were discusseda Changing the term of the vice chair from calendar year to July to Juneb Election of vice-chair Commissioner Azose was elected as vice chair last
December with the commission realizing his term expired on August 14th of2019 All commissioners are appointed for a 6 year term with an expiration dateof August 14th The commissioners approved the term change of the vice-chairelections to July through June
3
Commissioner Azose nominated Commissioner Kyoko Wright to serve as vice-chair All present voted in favor of Kyoko Wright to be the vice chair from July 2019 to June 2020
5 Budget Jerry McDonald described the three funding sources that affects the RealEstate Commission Jennifer Clawson discussed the departments 6 year projections of ashortfall in real estate funds Chair Clawson discussed the likelihood of a needed feeincrease at the end of the next biennium The department will provide a projection atthe next commission meeting Commissioners questioned a large one time increase inthe education fund Staff explained that there was a large fine that was collected
6 Update on Licensing System Chair Clawson discussed the 1st release of our onlinelicensing system which is scheduled for mid-fall mainly affecting the Appraiser andNotary programs A 2nd release will be scheduled for the JuneJuly 2020 time framewhich will include Real Estate It will have a new look and feel Secure AccessWashington (SAW) and Multifactor Authentication will be included in the new systemWe will be asking the industry for their feedback on the new system Jerry McDonaldtalked about it being a new system and that we may encounter challenges and askedthe industry to let the department know if they encounter issues Chair Clawsonannounced that licensees would be able to print their own license from the system
Chair Clawson talked about some other changes She shared the departments strategicplans purpose statement (ldquoHelping every Washington resident live work drive andthriverdquo) and value statements (Respect Trust Diversity Equity and Inclusion) Thereare 5 major categories in the strategic plan one being Easy equitable access to greatservice Another new item is the ldquoKnow your rightsrdquo brochure The department islooking at the diversity of licensees in order to help the department serve the localcommunities
7 Washington Center for Real Estate Research James Young ndash discussed the PierceCounty (and Puyallup) real estate market and the affordability index Mr Young talkedabout (1) Foster symposium on property technology on how high tech innovations areaffecting property and titles He talked about just picking up your phone and tradingreal estate (2) Fannie Mae wants to do a conference on housing supply issues namelyin the Puget Sound region hopefully in November
8 Education Report Tim Allen discussed the workload in the Education section and thePSI report on pass rates Mr Allen also discussed the updated course catalogavailability The new exam format is currently underway and is working well (This wascombining the AMP national exam questions with the PSI national exam questions) MrAllen has received all the feedback for the new CORE class and will be working with
4
Commissioner Thompson for a time for the sub-committee to discuss the CORE Pass rates are posted on the real estate web site
9 Discussion Update Out of State Washington Licensees (Forms Course) JerryMcDonald started the discussion with a recap of this agenda item Two brokers fromClark County came to a previous commission meeting and shared their concernsregarding licensees who had qualified using the reciprocity exam These licensees aretypically from and licensed in Oregon It was stated these Oregon licensed brokers areunfamiliar with Washington contracts regulations forms and requirements TheOregon licensees were using Oregon forms which do not meet Washingtonrequirements This caused issues during cross sales At the previous commissionmeeting Jerry stated that he would draft a rule change requiring a forms class for allnew applicants seeking a Washington license through reciprocity Bob Mitchell andMary Hull-Drury both representing Washington Realtors spoke about their governmentaffairs unit forming a work grouptask force from across the state to help address thisissue They will be having a fact finding meeting in August and will invite arepresentative from DOL RMLS and others to speak at the event
Jerry McDonald discussed that Washington and Oregon used the same exam providerfor the national exam and the exams for both states were the same Jerry McDonaldalso stated that the department drafted a proposed rule that would require reciprocityapplicants for Washington to take a 75 hour course on contractsforms prior toreceiving their license Jerry McDonald asked the commission to review the proposedrule for ideas that the rule may illicit Commissioner Jones-Schroeder discussed aviewpoint questioning why reciprocity applicants would need to take a 75 hour courseon contracts and forms but regular Washington applicants would not need to
The commissioners indicated they looked forward to hearing the results andrecommendation from Washington Realtors They talked about the effects of differingpractice areas (commercial property management) on the forms class
10 Scenario Exam Update Jerry McDonald spoke about Washington using the SimulationExam The exam while being difficult isnrsquot very conducive to being able to extrapolatestudent performance data by content areas The department is working on reports thatschools would be able to use find out how effective their teaching is based upon contentarea(s) The department is working with PSI in developing the Scenario Exam January1 2020 will be the date the new Scenario Exam will be given
11 Old Business Team Names and Unlicensed AssistantsJerry McDonald stated the main reason that these items are on the agenda is so theywould not be forgotten Bill Dutra explained the large workload that ldquoteam andassumed namesrdquo is creating for the department Bill Dutra explained that during the 1st
5
4 months of this year staff reviewed over 540 assumedfirm name requests which is a very heavy lift for the unit In addition the intake unit received 280 complaints with 116 complaints closed during the same timeline 105 investigations were completed during this same time frame Bill Dutra also reflected that the intake unit reviewed over 600 fingerprint (background) results every month Commissioner Song asked if the department would ldquopre-qualifyrdquo applicants with criminal history so that the applicants would not invest time and resources in education and the exam if there was no or limited possibility of them getting licensed
12 Commissioner TopicsCommissioner Wright talked about business card addresses She expressed concernthat consumers would not be able to find the licensee Jerry McDonald stated therewere two requirements 1) that all advertising must be in the firm name as licensedand 2) the licenseersquos name must be as they are licensed Jerry McDonald reaffirmedthere is no requirement to provide a business address phone or email address BillDutra informed the committee that the department advises schools to let licenseesknow it is a good idea to contact the department about the likelihood of approval ordenial of their license prior to committing to a course of studies
Commissioner Wrightrsquos next topic showed concerns about Homeowner AssociationManagement not being subject to licensing laws Jerry McDonald stated thatHomeowner Associations have statutes providing standards for the management If themanagement of a Homeowner Association was done by a real estate licensee theywould fall within the Real Estate Licensing law
Commissioner Wright also asked the question about the requirements for CO2detectors being wired Home Inspectors are regulated by the DOL Commissioner Songreported on the ARELLO conference
Commissioner Jones-Schroder talked about performance guarantees
13 Open ForumJames Young talked about House Bill 1923 where the Department of Commercereceived an appropriation for funding the WCRER to provide statistics for HB 1923regarding segments of the Growth Management Act He also talked about OpportunityZones regarding the impact of Opportunity Zones on property values He also inquiredif he could propose to the commission at the next meeting to do a study regarding theImpact of Opportunity Zones
Lynn Briscoe introduced (in absentia) Debra Allen-Bacirc as the new Home InspectorRealEstate Licensing Program Manager
6
14 Action Items Jerry stated there was only one action item Wait for WashingtonRealtors to finish their studyrecommendation on reciprocal licensing before proceedingwith department rulemaking on reciprocity
15 Adjourned at 1100 am
7
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
STATE OF WASHINGTON DEPARTMENT OF LICENSING
PO Box 9021 Olympia Washington 98507-9021
DATE
PLACE
PERSON
REAL ESTATE COMMISSION MEETING AGENDA
September 25 2019
Hilton Garden Inn 9015 W Hwy 2 Spokane WA 99224-9413
Jerry McDonald Administrator (360) 664-6525Email jmcdonalddolwagov
ORDER OF AGENDA OPEN SESSION
CALL TO ORDER Jennifer Clawson Chair Assistant Director 900 am
1 Attendance2 Approval of Agenda3 Approval of June 19 2019 Meeting Minutes4 Budget5 Update on Licensing System6 Agency Updates
a) New Commissioner Updateb) Staff
7 Washington Center for Real Estate Research Report8 Education Report9 ARELLO Update10 Out of State LicenseesApplicants- Update11 Old Business- On hold
a) Team Namesb) Unlicensed Assistantsc) Managing Broker Exam Update
12 Commissioner Topics13 Open Forum14 Action Items15 Adjourn
We are committed to providing equal access to our services For more information visitdolwagovaccess (TDDTTY call 711) 2
STATE OF WASHINGTON DEPARTMENT OF LICENSING
PO Box 9021 Olympia Washington 98507-9021
REAL ESTATE COMMISSION MEETING MINUTES
DATE June 19 2019
PLACE Best Western Plus - Oak Harbor Hotel and Conference Center ndash Whidbey Room 33175 State Route 20 Oak Harbor WA 98277
CALL TO ORDER Jennifer Clawson Chair Assistant Director 900 am
Presentation of Award to Dave Azose for his years of service as a commissioner on the Real Estate Commissions
1 Attendance Commissioners Shari Song Kyoko Wright Dave Azose Sabrina Jones-Schroeder and Chair Jennifer Clawson were present Commissioners Jess Salazar andJeff Thompson were excused
2 Approval of Agenda Motion was made seconded and all approved with a slightvariation on adding 61 Agency updates by Jennifer Clawson
3 Approval of March 27th 2019 Meeting Minutes Motion was made seconded and allapproved
4 Election of Vice Chair
Two issues were discusseda Changing the term of the vice chair from calendar year to July to Juneb Election of vice-chair Commissioner Azose was elected as vice chair last
December with the commission realizing his term expired on August 14th of2019 All commissioners are appointed for a 6 year term with an expiration dateof August 14th The commissioners approved the term change of the vice-chairelections to July through June
3
Commissioner Azose nominated Commissioner Kyoko Wright to serve as vice-chair All present voted in favor of Kyoko Wright to be the vice chair from July 2019 to June 2020
5 Budget Jerry McDonald described the three funding sources that affects the RealEstate Commission Jennifer Clawson discussed the departments 6 year projections of ashortfall in real estate funds Chair Clawson discussed the likelihood of a needed feeincrease at the end of the next biennium The department will provide a projection atthe next commission meeting Commissioners questioned a large one time increase inthe education fund Staff explained that there was a large fine that was collected
6 Update on Licensing System Chair Clawson discussed the 1st release of our onlinelicensing system which is scheduled for mid-fall mainly affecting the Appraiser andNotary programs A 2nd release will be scheduled for the JuneJuly 2020 time framewhich will include Real Estate It will have a new look and feel Secure AccessWashington (SAW) and Multifactor Authentication will be included in the new systemWe will be asking the industry for their feedback on the new system Jerry McDonaldtalked about it being a new system and that we may encounter challenges and askedthe industry to let the department know if they encounter issues Chair Clawsonannounced that licensees would be able to print their own license from the system
Chair Clawson talked about some other changes She shared the departments strategicplans purpose statement (ldquoHelping every Washington resident live work drive andthriverdquo) and value statements (Respect Trust Diversity Equity and Inclusion) Thereare 5 major categories in the strategic plan one being Easy equitable access to greatservice Another new item is the ldquoKnow your rightsrdquo brochure The department islooking at the diversity of licensees in order to help the department serve the localcommunities
7 Washington Center for Real Estate Research James Young ndash discussed the PierceCounty (and Puyallup) real estate market and the affordability index Mr Young talkedabout (1) Foster symposium on property technology on how high tech innovations areaffecting property and titles He talked about just picking up your phone and tradingreal estate (2) Fannie Mae wants to do a conference on housing supply issues namelyin the Puget Sound region hopefully in November
8 Education Report Tim Allen discussed the workload in the Education section and thePSI report on pass rates Mr Allen also discussed the updated course catalogavailability The new exam format is currently underway and is working well (This wascombining the AMP national exam questions with the PSI national exam questions) MrAllen has received all the feedback for the new CORE class and will be working with
4
Commissioner Thompson for a time for the sub-committee to discuss the CORE Pass rates are posted on the real estate web site
9 Discussion Update Out of State Washington Licensees (Forms Course) JerryMcDonald started the discussion with a recap of this agenda item Two brokers fromClark County came to a previous commission meeting and shared their concernsregarding licensees who had qualified using the reciprocity exam These licensees aretypically from and licensed in Oregon It was stated these Oregon licensed brokers areunfamiliar with Washington contracts regulations forms and requirements TheOregon licensees were using Oregon forms which do not meet Washingtonrequirements This caused issues during cross sales At the previous commissionmeeting Jerry stated that he would draft a rule change requiring a forms class for allnew applicants seeking a Washington license through reciprocity Bob Mitchell andMary Hull-Drury both representing Washington Realtors spoke about their governmentaffairs unit forming a work grouptask force from across the state to help address thisissue They will be having a fact finding meeting in August and will invite arepresentative from DOL RMLS and others to speak at the event
Jerry McDonald discussed that Washington and Oregon used the same exam providerfor the national exam and the exams for both states were the same Jerry McDonaldalso stated that the department drafted a proposed rule that would require reciprocityapplicants for Washington to take a 75 hour course on contractsforms prior toreceiving their license Jerry McDonald asked the commission to review the proposedrule for ideas that the rule may illicit Commissioner Jones-Schroeder discussed aviewpoint questioning why reciprocity applicants would need to take a 75 hour courseon contracts and forms but regular Washington applicants would not need to
The commissioners indicated they looked forward to hearing the results andrecommendation from Washington Realtors They talked about the effects of differingpractice areas (commercial property management) on the forms class
10 Scenario Exam Update Jerry McDonald spoke about Washington using the SimulationExam The exam while being difficult isnrsquot very conducive to being able to extrapolatestudent performance data by content areas The department is working on reports thatschools would be able to use find out how effective their teaching is based upon contentarea(s) The department is working with PSI in developing the Scenario Exam January1 2020 will be the date the new Scenario Exam will be given
11 Old Business Team Names and Unlicensed AssistantsJerry McDonald stated the main reason that these items are on the agenda is so theywould not be forgotten Bill Dutra explained the large workload that ldquoteam andassumed namesrdquo is creating for the department Bill Dutra explained that during the 1st
5
4 months of this year staff reviewed over 540 assumedfirm name requests which is a very heavy lift for the unit In addition the intake unit received 280 complaints with 116 complaints closed during the same timeline 105 investigations were completed during this same time frame Bill Dutra also reflected that the intake unit reviewed over 600 fingerprint (background) results every month Commissioner Song asked if the department would ldquopre-qualifyrdquo applicants with criminal history so that the applicants would not invest time and resources in education and the exam if there was no or limited possibility of them getting licensed
12 Commissioner TopicsCommissioner Wright talked about business card addresses She expressed concernthat consumers would not be able to find the licensee Jerry McDonald stated therewere two requirements 1) that all advertising must be in the firm name as licensedand 2) the licenseersquos name must be as they are licensed Jerry McDonald reaffirmedthere is no requirement to provide a business address phone or email address BillDutra informed the committee that the department advises schools to let licenseesknow it is a good idea to contact the department about the likelihood of approval ordenial of their license prior to committing to a course of studies
Commissioner Wrightrsquos next topic showed concerns about Homeowner AssociationManagement not being subject to licensing laws Jerry McDonald stated thatHomeowner Associations have statutes providing standards for the management If themanagement of a Homeowner Association was done by a real estate licensee theywould fall within the Real Estate Licensing law
Commissioner Wright also asked the question about the requirements for CO2detectors being wired Home Inspectors are regulated by the DOL Commissioner Songreported on the ARELLO conference
Commissioner Jones-Schroder talked about performance guarantees
13 Open ForumJames Young talked about House Bill 1923 where the Department of Commercereceived an appropriation for funding the WCRER to provide statistics for HB 1923regarding segments of the Growth Management Act He also talked about OpportunityZones regarding the impact of Opportunity Zones on property values He also inquiredif he could propose to the commission at the next meeting to do a study regarding theImpact of Opportunity Zones
Lynn Briscoe introduced (in absentia) Debra Allen-Bacirc as the new Home InspectorRealEstate Licensing Program Manager
6
14 Action Items Jerry stated there was only one action item Wait for WashingtonRealtors to finish their studyrecommendation on reciprocal licensing before proceedingwith department rulemaking on reciprocity
15 Adjourned at 1100 am
7
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
STATE OF WASHINGTON DEPARTMENT OF LICENSING
PO Box 9021 Olympia Washington 98507-9021
REAL ESTATE COMMISSION MEETING MINUTES
DATE June 19 2019
PLACE Best Western Plus - Oak Harbor Hotel and Conference Center ndash Whidbey Room 33175 State Route 20 Oak Harbor WA 98277
CALL TO ORDER Jennifer Clawson Chair Assistant Director 900 am
Presentation of Award to Dave Azose for his years of service as a commissioner on the Real Estate Commissions
1 Attendance Commissioners Shari Song Kyoko Wright Dave Azose Sabrina Jones-Schroeder and Chair Jennifer Clawson were present Commissioners Jess Salazar andJeff Thompson were excused
2 Approval of Agenda Motion was made seconded and all approved with a slightvariation on adding 61 Agency updates by Jennifer Clawson
3 Approval of March 27th 2019 Meeting Minutes Motion was made seconded and allapproved
4 Election of Vice Chair
Two issues were discusseda Changing the term of the vice chair from calendar year to July to Juneb Election of vice-chair Commissioner Azose was elected as vice chair last
December with the commission realizing his term expired on August 14th of2019 All commissioners are appointed for a 6 year term with an expiration dateof August 14th The commissioners approved the term change of the vice-chairelections to July through June
3
Commissioner Azose nominated Commissioner Kyoko Wright to serve as vice-chair All present voted in favor of Kyoko Wright to be the vice chair from July 2019 to June 2020
5 Budget Jerry McDonald described the three funding sources that affects the RealEstate Commission Jennifer Clawson discussed the departments 6 year projections of ashortfall in real estate funds Chair Clawson discussed the likelihood of a needed feeincrease at the end of the next biennium The department will provide a projection atthe next commission meeting Commissioners questioned a large one time increase inthe education fund Staff explained that there was a large fine that was collected
6 Update on Licensing System Chair Clawson discussed the 1st release of our onlinelicensing system which is scheduled for mid-fall mainly affecting the Appraiser andNotary programs A 2nd release will be scheduled for the JuneJuly 2020 time framewhich will include Real Estate It will have a new look and feel Secure AccessWashington (SAW) and Multifactor Authentication will be included in the new systemWe will be asking the industry for their feedback on the new system Jerry McDonaldtalked about it being a new system and that we may encounter challenges and askedthe industry to let the department know if they encounter issues Chair Clawsonannounced that licensees would be able to print their own license from the system
Chair Clawson talked about some other changes She shared the departments strategicplans purpose statement (ldquoHelping every Washington resident live work drive andthriverdquo) and value statements (Respect Trust Diversity Equity and Inclusion) Thereare 5 major categories in the strategic plan one being Easy equitable access to greatservice Another new item is the ldquoKnow your rightsrdquo brochure The department islooking at the diversity of licensees in order to help the department serve the localcommunities
7 Washington Center for Real Estate Research James Young ndash discussed the PierceCounty (and Puyallup) real estate market and the affordability index Mr Young talkedabout (1) Foster symposium on property technology on how high tech innovations areaffecting property and titles He talked about just picking up your phone and tradingreal estate (2) Fannie Mae wants to do a conference on housing supply issues namelyin the Puget Sound region hopefully in November
8 Education Report Tim Allen discussed the workload in the Education section and thePSI report on pass rates Mr Allen also discussed the updated course catalogavailability The new exam format is currently underway and is working well (This wascombining the AMP national exam questions with the PSI national exam questions) MrAllen has received all the feedback for the new CORE class and will be working with
4
Commissioner Thompson for a time for the sub-committee to discuss the CORE Pass rates are posted on the real estate web site
9 Discussion Update Out of State Washington Licensees (Forms Course) JerryMcDonald started the discussion with a recap of this agenda item Two brokers fromClark County came to a previous commission meeting and shared their concernsregarding licensees who had qualified using the reciprocity exam These licensees aretypically from and licensed in Oregon It was stated these Oregon licensed brokers areunfamiliar with Washington contracts regulations forms and requirements TheOregon licensees were using Oregon forms which do not meet Washingtonrequirements This caused issues during cross sales At the previous commissionmeeting Jerry stated that he would draft a rule change requiring a forms class for allnew applicants seeking a Washington license through reciprocity Bob Mitchell andMary Hull-Drury both representing Washington Realtors spoke about their governmentaffairs unit forming a work grouptask force from across the state to help address thisissue They will be having a fact finding meeting in August and will invite arepresentative from DOL RMLS and others to speak at the event
Jerry McDonald discussed that Washington and Oregon used the same exam providerfor the national exam and the exams for both states were the same Jerry McDonaldalso stated that the department drafted a proposed rule that would require reciprocityapplicants for Washington to take a 75 hour course on contractsforms prior toreceiving their license Jerry McDonald asked the commission to review the proposedrule for ideas that the rule may illicit Commissioner Jones-Schroeder discussed aviewpoint questioning why reciprocity applicants would need to take a 75 hour courseon contracts and forms but regular Washington applicants would not need to
The commissioners indicated they looked forward to hearing the results andrecommendation from Washington Realtors They talked about the effects of differingpractice areas (commercial property management) on the forms class
10 Scenario Exam Update Jerry McDonald spoke about Washington using the SimulationExam The exam while being difficult isnrsquot very conducive to being able to extrapolatestudent performance data by content areas The department is working on reports thatschools would be able to use find out how effective their teaching is based upon contentarea(s) The department is working with PSI in developing the Scenario Exam January1 2020 will be the date the new Scenario Exam will be given
11 Old Business Team Names and Unlicensed AssistantsJerry McDonald stated the main reason that these items are on the agenda is so theywould not be forgotten Bill Dutra explained the large workload that ldquoteam andassumed namesrdquo is creating for the department Bill Dutra explained that during the 1st
5
4 months of this year staff reviewed over 540 assumedfirm name requests which is a very heavy lift for the unit In addition the intake unit received 280 complaints with 116 complaints closed during the same timeline 105 investigations were completed during this same time frame Bill Dutra also reflected that the intake unit reviewed over 600 fingerprint (background) results every month Commissioner Song asked if the department would ldquopre-qualifyrdquo applicants with criminal history so that the applicants would not invest time and resources in education and the exam if there was no or limited possibility of them getting licensed
12 Commissioner TopicsCommissioner Wright talked about business card addresses She expressed concernthat consumers would not be able to find the licensee Jerry McDonald stated therewere two requirements 1) that all advertising must be in the firm name as licensedand 2) the licenseersquos name must be as they are licensed Jerry McDonald reaffirmedthere is no requirement to provide a business address phone or email address BillDutra informed the committee that the department advises schools to let licenseesknow it is a good idea to contact the department about the likelihood of approval ordenial of their license prior to committing to a course of studies
Commissioner Wrightrsquos next topic showed concerns about Homeowner AssociationManagement not being subject to licensing laws Jerry McDonald stated thatHomeowner Associations have statutes providing standards for the management If themanagement of a Homeowner Association was done by a real estate licensee theywould fall within the Real Estate Licensing law
Commissioner Wright also asked the question about the requirements for CO2detectors being wired Home Inspectors are regulated by the DOL Commissioner Songreported on the ARELLO conference
Commissioner Jones-Schroder talked about performance guarantees
13 Open ForumJames Young talked about House Bill 1923 where the Department of Commercereceived an appropriation for funding the WCRER to provide statistics for HB 1923regarding segments of the Growth Management Act He also talked about OpportunityZones regarding the impact of Opportunity Zones on property values He also inquiredif he could propose to the commission at the next meeting to do a study regarding theImpact of Opportunity Zones
Lynn Briscoe introduced (in absentia) Debra Allen-Bacirc as the new Home InspectorRealEstate Licensing Program Manager
6
14 Action Items Jerry stated there was only one action item Wait for WashingtonRealtors to finish their studyrecommendation on reciprocal licensing before proceedingwith department rulemaking on reciprocity
15 Adjourned at 1100 am
7
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
Commissioner Azose nominated Commissioner Kyoko Wright to serve as vice-chair All present voted in favor of Kyoko Wright to be the vice chair from July 2019 to June 2020
5 Budget Jerry McDonald described the three funding sources that affects the RealEstate Commission Jennifer Clawson discussed the departments 6 year projections of ashortfall in real estate funds Chair Clawson discussed the likelihood of a needed feeincrease at the end of the next biennium The department will provide a projection atthe next commission meeting Commissioners questioned a large one time increase inthe education fund Staff explained that there was a large fine that was collected
6 Update on Licensing System Chair Clawson discussed the 1st release of our onlinelicensing system which is scheduled for mid-fall mainly affecting the Appraiser andNotary programs A 2nd release will be scheduled for the JuneJuly 2020 time framewhich will include Real Estate It will have a new look and feel Secure AccessWashington (SAW) and Multifactor Authentication will be included in the new systemWe will be asking the industry for their feedback on the new system Jerry McDonaldtalked about it being a new system and that we may encounter challenges and askedthe industry to let the department know if they encounter issues Chair Clawsonannounced that licensees would be able to print their own license from the system
Chair Clawson talked about some other changes She shared the departments strategicplans purpose statement (ldquoHelping every Washington resident live work drive andthriverdquo) and value statements (Respect Trust Diversity Equity and Inclusion) Thereare 5 major categories in the strategic plan one being Easy equitable access to greatservice Another new item is the ldquoKnow your rightsrdquo brochure The department islooking at the diversity of licensees in order to help the department serve the localcommunities
7 Washington Center for Real Estate Research James Young ndash discussed the PierceCounty (and Puyallup) real estate market and the affordability index Mr Young talkedabout (1) Foster symposium on property technology on how high tech innovations areaffecting property and titles He talked about just picking up your phone and tradingreal estate (2) Fannie Mae wants to do a conference on housing supply issues namelyin the Puget Sound region hopefully in November
8 Education Report Tim Allen discussed the workload in the Education section and thePSI report on pass rates Mr Allen also discussed the updated course catalogavailability The new exam format is currently underway and is working well (This wascombining the AMP national exam questions with the PSI national exam questions) MrAllen has received all the feedback for the new CORE class and will be working with
4
Commissioner Thompson for a time for the sub-committee to discuss the CORE Pass rates are posted on the real estate web site
9 Discussion Update Out of State Washington Licensees (Forms Course) JerryMcDonald started the discussion with a recap of this agenda item Two brokers fromClark County came to a previous commission meeting and shared their concernsregarding licensees who had qualified using the reciprocity exam These licensees aretypically from and licensed in Oregon It was stated these Oregon licensed brokers areunfamiliar with Washington contracts regulations forms and requirements TheOregon licensees were using Oregon forms which do not meet Washingtonrequirements This caused issues during cross sales At the previous commissionmeeting Jerry stated that he would draft a rule change requiring a forms class for allnew applicants seeking a Washington license through reciprocity Bob Mitchell andMary Hull-Drury both representing Washington Realtors spoke about their governmentaffairs unit forming a work grouptask force from across the state to help address thisissue They will be having a fact finding meeting in August and will invite arepresentative from DOL RMLS and others to speak at the event
Jerry McDonald discussed that Washington and Oregon used the same exam providerfor the national exam and the exams for both states were the same Jerry McDonaldalso stated that the department drafted a proposed rule that would require reciprocityapplicants for Washington to take a 75 hour course on contractsforms prior toreceiving their license Jerry McDonald asked the commission to review the proposedrule for ideas that the rule may illicit Commissioner Jones-Schroeder discussed aviewpoint questioning why reciprocity applicants would need to take a 75 hour courseon contracts and forms but regular Washington applicants would not need to
The commissioners indicated they looked forward to hearing the results andrecommendation from Washington Realtors They talked about the effects of differingpractice areas (commercial property management) on the forms class
10 Scenario Exam Update Jerry McDonald spoke about Washington using the SimulationExam The exam while being difficult isnrsquot very conducive to being able to extrapolatestudent performance data by content areas The department is working on reports thatschools would be able to use find out how effective their teaching is based upon contentarea(s) The department is working with PSI in developing the Scenario Exam January1 2020 will be the date the new Scenario Exam will be given
11 Old Business Team Names and Unlicensed AssistantsJerry McDonald stated the main reason that these items are on the agenda is so theywould not be forgotten Bill Dutra explained the large workload that ldquoteam andassumed namesrdquo is creating for the department Bill Dutra explained that during the 1st
5
4 months of this year staff reviewed over 540 assumedfirm name requests which is a very heavy lift for the unit In addition the intake unit received 280 complaints with 116 complaints closed during the same timeline 105 investigations were completed during this same time frame Bill Dutra also reflected that the intake unit reviewed over 600 fingerprint (background) results every month Commissioner Song asked if the department would ldquopre-qualifyrdquo applicants with criminal history so that the applicants would not invest time and resources in education and the exam if there was no or limited possibility of them getting licensed
12 Commissioner TopicsCommissioner Wright talked about business card addresses She expressed concernthat consumers would not be able to find the licensee Jerry McDonald stated therewere two requirements 1) that all advertising must be in the firm name as licensedand 2) the licenseersquos name must be as they are licensed Jerry McDonald reaffirmedthere is no requirement to provide a business address phone or email address BillDutra informed the committee that the department advises schools to let licenseesknow it is a good idea to contact the department about the likelihood of approval ordenial of their license prior to committing to a course of studies
Commissioner Wrightrsquos next topic showed concerns about Homeowner AssociationManagement not being subject to licensing laws Jerry McDonald stated thatHomeowner Associations have statutes providing standards for the management If themanagement of a Homeowner Association was done by a real estate licensee theywould fall within the Real Estate Licensing law
Commissioner Wright also asked the question about the requirements for CO2detectors being wired Home Inspectors are regulated by the DOL Commissioner Songreported on the ARELLO conference
Commissioner Jones-Schroder talked about performance guarantees
13 Open ForumJames Young talked about House Bill 1923 where the Department of Commercereceived an appropriation for funding the WCRER to provide statistics for HB 1923regarding segments of the Growth Management Act He also talked about OpportunityZones regarding the impact of Opportunity Zones on property values He also inquiredif he could propose to the commission at the next meeting to do a study regarding theImpact of Opportunity Zones
Lynn Briscoe introduced (in absentia) Debra Allen-Bacirc as the new Home InspectorRealEstate Licensing Program Manager
6
14 Action Items Jerry stated there was only one action item Wait for WashingtonRealtors to finish their studyrecommendation on reciprocal licensing before proceedingwith department rulemaking on reciprocity
15 Adjourned at 1100 am
7
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
Commissioner Thompson for a time for the sub-committee to discuss the CORE Pass rates are posted on the real estate web site
9 Discussion Update Out of State Washington Licensees (Forms Course) JerryMcDonald started the discussion with a recap of this agenda item Two brokers fromClark County came to a previous commission meeting and shared their concernsregarding licensees who had qualified using the reciprocity exam These licensees aretypically from and licensed in Oregon It was stated these Oregon licensed brokers areunfamiliar with Washington contracts regulations forms and requirements TheOregon licensees were using Oregon forms which do not meet Washingtonrequirements This caused issues during cross sales At the previous commissionmeeting Jerry stated that he would draft a rule change requiring a forms class for allnew applicants seeking a Washington license through reciprocity Bob Mitchell andMary Hull-Drury both representing Washington Realtors spoke about their governmentaffairs unit forming a work grouptask force from across the state to help address thisissue They will be having a fact finding meeting in August and will invite arepresentative from DOL RMLS and others to speak at the event
Jerry McDonald discussed that Washington and Oregon used the same exam providerfor the national exam and the exams for both states were the same Jerry McDonaldalso stated that the department drafted a proposed rule that would require reciprocityapplicants for Washington to take a 75 hour course on contractsforms prior toreceiving their license Jerry McDonald asked the commission to review the proposedrule for ideas that the rule may illicit Commissioner Jones-Schroeder discussed aviewpoint questioning why reciprocity applicants would need to take a 75 hour courseon contracts and forms but regular Washington applicants would not need to
The commissioners indicated they looked forward to hearing the results andrecommendation from Washington Realtors They talked about the effects of differingpractice areas (commercial property management) on the forms class
10 Scenario Exam Update Jerry McDonald spoke about Washington using the SimulationExam The exam while being difficult isnrsquot very conducive to being able to extrapolatestudent performance data by content areas The department is working on reports thatschools would be able to use find out how effective their teaching is based upon contentarea(s) The department is working with PSI in developing the Scenario Exam January1 2020 will be the date the new Scenario Exam will be given
11 Old Business Team Names and Unlicensed AssistantsJerry McDonald stated the main reason that these items are on the agenda is so theywould not be forgotten Bill Dutra explained the large workload that ldquoteam andassumed namesrdquo is creating for the department Bill Dutra explained that during the 1st
5
4 months of this year staff reviewed over 540 assumedfirm name requests which is a very heavy lift for the unit In addition the intake unit received 280 complaints with 116 complaints closed during the same timeline 105 investigations were completed during this same time frame Bill Dutra also reflected that the intake unit reviewed over 600 fingerprint (background) results every month Commissioner Song asked if the department would ldquopre-qualifyrdquo applicants with criminal history so that the applicants would not invest time and resources in education and the exam if there was no or limited possibility of them getting licensed
12 Commissioner TopicsCommissioner Wright talked about business card addresses She expressed concernthat consumers would not be able to find the licensee Jerry McDonald stated therewere two requirements 1) that all advertising must be in the firm name as licensedand 2) the licenseersquos name must be as they are licensed Jerry McDonald reaffirmedthere is no requirement to provide a business address phone or email address BillDutra informed the committee that the department advises schools to let licenseesknow it is a good idea to contact the department about the likelihood of approval ordenial of their license prior to committing to a course of studies
Commissioner Wrightrsquos next topic showed concerns about Homeowner AssociationManagement not being subject to licensing laws Jerry McDonald stated thatHomeowner Associations have statutes providing standards for the management If themanagement of a Homeowner Association was done by a real estate licensee theywould fall within the Real Estate Licensing law
Commissioner Wright also asked the question about the requirements for CO2detectors being wired Home Inspectors are regulated by the DOL Commissioner Songreported on the ARELLO conference
Commissioner Jones-Schroder talked about performance guarantees
13 Open ForumJames Young talked about House Bill 1923 where the Department of Commercereceived an appropriation for funding the WCRER to provide statistics for HB 1923regarding segments of the Growth Management Act He also talked about OpportunityZones regarding the impact of Opportunity Zones on property values He also inquiredif he could propose to the commission at the next meeting to do a study regarding theImpact of Opportunity Zones
Lynn Briscoe introduced (in absentia) Debra Allen-Bacirc as the new Home InspectorRealEstate Licensing Program Manager
6
14 Action Items Jerry stated there was only one action item Wait for WashingtonRealtors to finish their studyrecommendation on reciprocal licensing before proceedingwith department rulemaking on reciprocity
15 Adjourned at 1100 am
7
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
4 months of this year staff reviewed over 540 assumedfirm name requests which is a very heavy lift for the unit In addition the intake unit received 280 complaints with 116 complaints closed during the same timeline 105 investigations were completed during this same time frame Bill Dutra also reflected that the intake unit reviewed over 600 fingerprint (background) results every month Commissioner Song asked if the department would ldquopre-qualifyrdquo applicants with criminal history so that the applicants would not invest time and resources in education and the exam if there was no or limited possibility of them getting licensed
12 Commissioner TopicsCommissioner Wright talked about business card addresses She expressed concernthat consumers would not be able to find the licensee Jerry McDonald stated therewere two requirements 1) that all advertising must be in the firm name as licensedand 2) the licenseersquos name must be as they are licensed Jerry McDonald reaffirmedthere is no requirement to provide a business address phone or email address BillDutra informed the committee that the department advises schools to let licenseesknow it is a good idea to contact the department about the likelihood of approval ordenial of their license prior to committing to a course of studies
Commissioner Wrightrsquos next topic showed concerns about Homeowner AssociationManagement not being subject to licensing laws Jerry McDonald stated thatHomeowner Associations have statutes providing standards for the management If themanagement of a Homeowner Association was done by a real estate licensee theywould fall within the Real Estate Licensing law
Commissioner Wright also asked the question about the requirements for CO2detectors being wired Home Inspectors are regulated by the DOL Commissioner Songreported on the ARELLO conference
Commissioner Jones-Schroder talked about performance guarantees
13 Open ForumJames Young talked about House Bill 1923 where the Department of Commercereceived an appropriation for funding the WCRER to provide statistics for HB 1923regarding segments of the Growth Management Act He also talked about OpportunityZones regarding the impact of Opportunity Zones on property values He also inquiredif he could propose to the commission at the next meeting to do a study regarding theImpact of Opportunity Zones
Lynn Briscoe introduced (in absentia) Debra Allen-Bacirc as the new Home InspectorRealEstate Licensing Program Manager
6
14 Action Items Jerry stated there was only one action item Wait for WashingtonRealtors to finish their studyrecommendation on reciprocal licensing before proceedingwith department rulemaking on reciprocity
15 Adjourned at 1100 am
7
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
14 Action Items Jerry stated there was only one action item Wait for WashingtonRealtors to finish their studyrecommendation on reciprocal licensing before proceedingwith department rulemaking on reciprocity
15 Adjourned at 1100 am
7
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
Real Estate Education ndash 04F
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885317 ndash The purpose of this account is to carry out the directorrsquos education programs Funds come from interest on trust accounts (25 to RE Education and 75 to Housing Trust Fund) and all fines collected from licensees Funds are used for training programs such as the distressed property video
Budget Data
Actuals Biennial
to Date Estimates
Allotted 276000$ 276000$
Expended 46575$ 46575$
Variance 229425$ 229425$
Fund Balance Data
Beginning Balance 614711$
Add Collected to-date 85305$
Less Expended to-date 46575$
Current Fund Balance 653441$
8
Real Estate Research ndash 06R
BPD Real Estate ProgramData thru June 2019
Actual data as of June 30 2019
Established by RCW 1885461 ndash This account is for research connected to the practice of real estate Funding from this account comes from a $1000 fee attached to each license renewal The department contracts with Washington Center for Real Estate Research-Washington State University each biennium for their services
Budget Data
Actuals Biennial
to Date Estimates
Allotted 415000$ 415000$
Expended 415000$ 415000$
Variance -$ -$
Fund Balance Data
Beginning Balance 586163$
Add Collected to-date 456205$
Less Expended to-date 312500$
Current Fund Balance 729868$
9
Real Estate Commission - 026Actual data as of June 30 2019
BPD Real Estate ProgramData thru June 2019
Established by RCW 1885220 ndash This account is the operatingor business account for real estate All licensing fees paid to the department is placed into this account
Budget Data
Actuals Biennial
to Date Estimates
Allotted 10910000$ 10910000$
Expended 10269929$ 10269929$
Variance 640071$ 640071$
Fund Balance Data
Beginning Balance 3244107$
Add Collected to-date 10966928$
Less Expended to-date 10269929$
Current Fund Balance 3941106$
10
Coming soon A new way to manage Real Estate licenses online
This November the Department of Licensing (DOL) will launch a new online system for managing some business and professional licenses The system will expand to include Real Estate licenses in summer 2020
Whatrsquos changing for our Real Estate license holders Many licensees already use our current online system to apply for or renew their Real Estate licenses Our new system will include enhanced features and new options that make managing licenses even easier
New benefits to managing licenses online include
bull Additional online payment methodsbull Option to self-print a licensebull Ability to make changes to account information
Using our new system will be the quickest way to process a license and associated fees and documents License holders will still have the option to renew by mail
Letrsquos keep in touch Visit httpswwwdolwagovbusinessrealestatewhatsnewhtml to sign up for our Listserv and stay up to date on whatrsquos happening with our new system
If you have any questions please donrsquot hesitate to reach out
Real Estate Program 360-664-6500realestatedolwagov
11
012 Gould Hall Box 355727 Seattle WA 98195-5727 2066857088 jyoung4uwedu
Mr Jerry McDonald
Administrator Real Estate Programs
Department of Licensing State of Washington
PO Box 48020
Olympia WA 98507
September 3rd 2019
Dear Jerry
Thank you for the opportunity to provide a written outline of the activities undertaken by the WCRER in
the packet for the September 25th meeting of the Real Estate Commission As you may realize there are
many activities taking place and this report provides the chance to reflect on our activities and describe
how are shaping up for the future
Please find the summary of WCRER activities below relating to not only the contracts outstanding but
also other outreach activities relating to real estate research and education
Contracted work
The second quarter 2019 Washington State Housing Market Report (WSHMR) was posted online
with revision to the Housing Affordability Index
Apartment Market Report available online
Proposal for analysis on the impact of Opportunity Zones is has been submitted to the
Commission for approval
Outreach Activities
Spoke at Association of Washington Business Housing Forum on statewide house price dynamics
Speaker at Manufactured Housing Community Association Annual Conference
Participated in Foster Symposium on issues in Proptech
Keynote speaker for Clark County Business Forum on affordable housing in Clark County
Keynote speaker for Jefferson County Association of Realtors policy luncheon
Meetings with other users of real estate information on a statewide level including legislative
staff
Participated in two AEC Hackathons (Architecture Engineering and Construction)
Presented to the Washington Association of Building Officers
Invited participant in the national meeting of Real Estate Center Directors in Denver
Video production on housing economics is continuing with anticipated launch over the spring
12
Press and Media Activities
Written commentary each month for NWMLS Press Releases
Several newspaper and magazine features (both for the WCRER and personally cited) including
the Skagit Valley Herald Bellingham Herald The Yakima Herald-Republic Seattle Times Seattle
Met Bloomberg and the Chinook Observer
Future activities
WCRER has been contracted by Fannie Mae to host a seminar and panel discussion on Housing
Supply and Technology in November
Scheduled for Keynote to Washington State Planning Directors Conference in Chelan
Attending the WA Realtors Fall Business Meeting in Kennewick
I hope that this summary is useful to the commission members and those with an interest in real estate
research throughout Washington I look forward to any input and guidance that your office or the
Commissioners may offer on our research program as we continue our outreach and educational
activities
I also look forward to seeing you at the meeting on the 25th If there is any further information that you
require prior to the Real Estate Commission meeting please get in touch with me
Kind Regards
James Young
Director Washington Center for Real Estate Research
13
Washington Statersquos Housing Market 2nd Quarter 2019
Washington Market Highlights Second Quarter 2019
bull Existing home sales rose in the firstquarter by 05 percent to a seasonallyadjusted annual rate of 107250 unitscompared to last quarter and fell 60percent compared to a year earlier
bull Building permit activity rose 233percent from a year earlier total-ing 13648 new units authorized Ofthese 6936 were issued for single-family units
bull The median price home sold in Wash-ington during the second quarter was$410600 100 percent higher than ayear earlier
bull Housing affordability for both all buy-ers and first-time buyers declinedfrom the previous quarter and de-clined the same quarter a year agoThe All-Buyer Housing AffordabilityIndex stayed above 100 in 27 of Wash-ingtonrsquos 39 counties
bull Inventories of homes available for saletotaled 18421 single-family homes atthe end of the quarter a 347 in-crease from the previous quarter anda 15 percent decline from a yearago This inventory level representeda 20 month supply a slight imbal-ance where demand exceeds the sup-ply of homes on the market
60000
80000
100000
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
$200000
$250000
$300000
$350000Q
2 20
09
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Real Estate Commission
WASHINGTON CENTER FOR REAL ESTATE RESEARCH | RUNSTAD DEPARTMENT OF REAL ESTATE | COLLEGE OF BUILT ENVIRONMENTS
14
Washington Statersquos Housing Market is aquarterly report to the Washington RealEstate Commission and the WashingtonState Department of Licensing
Prepared byRunstad Center for Real Estate StudiesCollege of Built EnvironmentsUniversity of Washington424 Gould Hall Box 355740Seattle WA 98195-5740Phone (206) 685-9597Web realestatewashingtoneduE-mail wcreruwedu
James YoungResearch Director
copyCopyright 2019 by the WashingtonCenter for Real Estate Research All rightsreserved
The Washington Center for Real EstateResearch will grant permission to useor reprint material from WashingtonStatersquos Housing Market under appropriatecircumstances
SUBSCRIPTION INFORMATIONWashington Statersquos Housing Market ispublished quarterly by the WashingtonCenter for Real Estate Research Theannual subscription price is $60 plus taxPhone us or visit our Website for moreinformation
second quarter 2019Issued November 2019
Survey Description
Publication Washington Statersquos Housing Market is a publication of the Washington Center forReal Estate Research (WCRER) at the University of Washington
Coverage At least quarterly WCRER receives data on single-family home sales from each multiplelisting service located in or providing market coverage to Washington communities In 2012 dataon nearly 69000 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 assessorsData 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 WCRER does not receive sales dataon individual transactions (only aggregated statistics) the median is determined by the proportionof sales in a given range of prices required to reach the midway point in the distribution Whileaverage 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 dayvariationmdashthe 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
MetropolitanMicropolitan 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 50000 people in the urban core Micropolitan areas are smallercities with 10000-50000 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
Monthrsquos Supply Estimates of monthrsquos 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 [(ListingsSAAR) x 12 = monthrsquos 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 10Mortgage Term 30 years 30 yearsIncome Median Family 70 Median HouseholdMortgage Insurance No Yes (add 025 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
Washington Statersquos Housing MarketndashSecond Quarter 2019
15
Summary
Washington statersquos housing market was mixed in the secondquarter of 2019 with sales falling but new building permitsrising compared with a year ago
The statewide median sales price for a single family home in-creased to $410600 in the second quarter 100 percent lowerthan the same time in 2018
The seasonally adjusted annual rate of existing home salesfell 60 percent from the second quarter of 2018ndashfrom 114110to 107250 This means that if the quarterrsquos pace continuedunchanged for a year that number of homes would be soldAlthough robust the current annual rate of sales is lowerthan the high witnessed in 2003
Home prices rose in fifteen of the statersquos eighteen metropoli-tan counties Statewide Klickitat County recorded the high-est relative increase of 267 percent followed by WahkiakumCounties at 256 percent Median prices were lower thana year earlier in five counties with prices in Ferry Countydecreasing by 74
Given the variety of location and market diversity in thestate median housing prices are highly variable rangingfrom $140000 in Lincoln County to $701200 in King County(San Juan County has the second highest median values at$653600)
Housing affordability fell in the second quarter from the pre-vious and was slightly lower than a year ago That indexndash
where 100 means a middle-income family can just qualify fora median-priced home given a 20 percent down payment anda 30-year fixed mortgage rate at prevailing ratesndashwas 984down from 1061 in the first quarter of 2019 This metricsuggests that given the same down payment and mortgagea middle-income family can afford a home selling for 16 per-cent below the median
Statewide the first-time buyer index fell by 55 points end-ing the quarter at 699 This index assumes a less expensivehome lower down payment and lower income This meansthat a household earning 70 percent of the median house-hold incomendashas may be true of first-time buyersndashhad only699 percent of the income required to purchase a typicalstarter home statewide
Housing affordability varied widely across the state Theleast affordable county is San Juan County with LincolnCounty the most affordable Thirty-three counties espe-cially those in the central Puget Sound present affordabilityissues for newcomers
Affordability remains a challenge in the statersquos housing mar-ket Meanwhile permitting activity is increasing In thesecond quarter of 2019 a total of 13648 building permitswere recorded up (233) from the previous year
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 readerrsquos can more easily pull out the information theyneed especially for variances in location
Washington Center for Real Estate Research University of Washington
16
Home Resales
05Quarter-over-quarter increase in seasonally adjusted annualsales
107250Seasonally Adjusted Annual Sales (SAAR)
60Year-over-year decline in seasonally adjusted annual sales
20 of 39Number of counties with quarter-over-quarter sales in-creases
286Largest quarter-over-quarter gain in seasonally adjustedsales seen in Wahkiakum county
720Largest quarter-over-quarter sales gain in absolute termsseen in King county
16 of 39Number of counties with a quarter-over-quarter decline in
seasonally adjusted sales
200Largest drop in seasonally adjusted quarter-over-quarter
sales seen in Columbia county
330Largest drop in seasonally adjusted quarter-over-quarter
sales in absolute terms seen in Benton county
TwoNumber of counties with sales rates at least ten percent
lower than the previous quarter
10 of 17Number of Metropolitan counties with fewer sales than the
previous quarter
92760Seasonally adjusted annual sales rate in the 17Metropolitan counties (865 of state total)
60000
80000
100000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
17
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
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- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
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- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
012 Gould Hall Box 355727 Seattle WA 98195-5727 2066857088 jyoung4uwedu
Mr Jerry McDonald
Administrator Real Estate Programs
Department of Licensing State of Washington
PO Box 48020
Olympia WA 98507
September 3rd 2019
Dear Jerry
Thank you for the opportunity to provide a written outline of the activities undertaken by the WCRER in
the packet for the September 25th meeting of the Real Estate Commission As you may realize there are
many activities taking place and this report provides the chance to reflect on our activities and describe
how are shaping up for the future
Please find the summary of WCRER activities below relating to not only the contracts outstanding but
also other outreach activities relating to real estate research and education
Contracted work
The second quarter 2019 Washington State Housing Market Report (WSHMR) was posted online
with revision to the Housing Affordability Index
Apartment Market Report available online
Proposal for analysis on the impact of Opportunity Zones is has been submitted to the
Commission for approval
Outreach Activities
Spoke at Association of Washington Business Housing Forum on statewide house price dynamics
Speaker at Manufactured Housing Community Association Annual Conference
Participated in Foster Symposium on issues in Proptech
Keynote speaker for Clark County Business Forum on affordable housing in Clark County
Keynote speaker for Jefferson County Association of Realtors policy luncheon
Meetings with other users of real estate information on a statewide level including legislative
staff
Participated in two AEC Hackathons (Architecture Engineering and Construction)
Presented to the Washington Association of Building Officers
Invited participant in the national meeting of Real Estate Center Directors in Denver
Video production on housing economics is continuing with anticipated launch over the spring
12
Press and Media Activities
Written commentary each month for NWMLS Press Releases
Several newspaper and magazine features (both for the WCRER and personally cited) including
the Skagit Valley Herald Bellingham Herald The Yakima Herald-Republic Seattle Times Seattle
Met Bloomberg and the Chinook Observer
Future activities
WCRER has been contracted by Fannie Mae to host a seminar and panel discussion on Housing
Supply and Technology in November
Scheduled for Keynote to Washington State Planning Directors Conference in Chelan
Attending the WA Realtors Fall Business Meeting in Kennewick
I hope that this summary is useful to the commission members and those with an interest in real estate
research throughout Washington I look forward to any input and guidance that your office or the
Commissioners may offer on our research program as we continue our outreach and educational
activities
I also look forward to seeing you at the meeting on the 25th If there is any further information that you
require prior to the Real Estate Commission meeting please get in touch with me
Kind Regards
James Young
Director Washington Center for Real Estate Research
13
Washington Statersquos Housing Market 2nd Quarter 2019
Washington Market Highlights Second Quarter 2019
bull Existing home sales rose in the firstquarter by 05 percent to a seasonallyadjusted annual rate of 107250 unitscompared to last quarter and fell 60percent compared to a year earlier
bull Building permit activity rose 233percent from a year earlier total-ing 13648 new units authorized Ofthese 6936 were issued for single-family units
bull The median price home sold in Wash-ington during the second quarter was$410600 100 percent higher than ayear earlier
bull Housing affordability for both all buy-ers and first-time buyers declinedfrom the previous quarter and de-clined the same quarter a year agoThe All-Buyer Housing AffordabilityIndex stayed above 100 in 27 of Wash-ingtonrsquos 39 counties
bull Inventories of homes available for saletotaled 18421 single-family homes atthe end of the quarter a 347 in-crease from the previous quarter anda 15 percent decline from a yearago This inventory level representeda 20 month supply a slight imbal-ance where demand exceeds the sup-ply of homes on the market
60000
80000
100000
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
$200000
$250000
$300000
$350000Q
2 20
09
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Real Estate Commission
WASHINGTON CENTER FOR REAL ESTATE RESEARCH | RUNSTAD DEPARTMENT OF REAL ESTATE | COLLEGE OF BUILT ENVIRONMENTS
14
Washington Statersquos Housing Market is aquarterly report to the Washington RealEstate Commission and the WashingtonState Department of Licensing
Prepared byRunstad Center for Real Estate StudiesCollege of Built EnvironmentsUniversity of Washington424 Gould Hall Box 355740Seattle WA 98195-5740Phone (206) 685-9597Web realestatewashingtoneduE-mail wcreruwedu
James YoungResearch Director
copyCopyright 2019 by the WashingtonCenter for Real Estate Research All rightsreserved
The Washington Center for Real EstateResearch will grant permission to useor reprint material from WashingtonStatersquos Housing Market under appropriatecircumstances
SUBSCRIPTION INFORMATIONWashington Statersquos Housing Market ispublished quarterly by the WashingtonCenter for Real Estate Research Theannual subscription price is $60 plus taxPhone us or visit our Website for moreinformation
second quarter 2019Issued November 2019
Survey Description
Publication Washington Statersquos Housing Market is a publication of the Washington Center forReal Estate Research (WCRER) at the University of Washington
Coverage At least quarterly WCRER receives data on single-family home sales from each multiplelisting service located in or providing market coverage to Washington communities In 2012 dataon nearly 69000 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 assessorsData 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 WCRER does not receive sales dataon individual transactions (only aggregated statistics) the median is determined by the proportionof sales in a given range of prices required to reach the midway point in the distribution Whileaverage 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 dayvariationmdashthe 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
MetropolitanMicropolitan 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 50000 people in the urban core Micropolitan areas are smallercities with 10000-50000 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
Monthrsquos Supply Estimates of monthrsquos 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 [(ListingsSAAR) x 12 = monthrsquos 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 10Mortgage Term 30 years 30 yearsIncome Median Family 70 Median HouseholdMortgage Insurance No Yes (add 025 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
Washington Statersquos Housing MarketndashSecond Quarter 2019
15
Summary
Washington statersquos housing market was mixed in the secondquarter of 2019 with sales falling but new building permitsrising compared with a year ago
The statewide median sales price for a single family home in-creased to $410600 in the second quarter 100 percent lowerthan the same time in 2018
The seasonally adjusted annual rate of existing home salesfell 60 percent from the second quarter of 2018ndashfrom 114110to 107250 This means that if the quarterrsquos pace continuedunchanged for a year that number of homes would be soldAlthough robust the current annual rate of sales is lowerthan the high witnessed in 2003
Home prices rose in fifteen of the statersquos eighteen metropoli-tan counties Statewide Klickitat County recorded the high-est relative increase of 267 percent followed by WahkiakumCounties at 256 percent Median prices were lower thana year earlier in five counties with prices in Ferry Countydecreasing by 74
Given the variety of location and market diversity in thestate median housing prices are highly variable rangingfrom $140000 in Lincoln County to $701200 in King County(San Juan County has the second highest median values at$653600)
Housing affordability fell in the second quarter from the pre-vious and was slightly lower than a year ago That indexndash
where 100 means a middle-income family can just qualify fora median-priced home given a 20 percent down payment anda 30-year fixed mortgage rate at prevailing ratesndashwas 984down from 1061 in the first quarter of 2019 This metricsuggests that given the same down payment and mortgagea middle-income family can afford a home selling for 16 per-cent below the median
Statewide the first-time buyer index fell by 55 points end-ing the quarter at 699 This index assumes a less expensivehome lower down payment and lower income This meansthat a household earning 70 percent of the median house-hold incomendashas may be true of first-time buyersndashhad only699 percent of the income required to purchase a typicalstarter home statewide
Housing affordability varied widely across the state Theleast affordable county is San Juan County with LincolnCounty the most affordable Thirty-three counties espe-cially those in the central Puget Sound present affordabilityissues for newcomers
Affordability remains a challenge in the statersquos housing mar-ket Meanwhile permitting activity is increasing In thesecond quarter of 2019 a total of 13648 building permitswere recorded up (233) from the previous year
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 readerrsquos can more easily pull out the information theyneed especially for variances in location
Washington Center for Real Estate Research University of Washington
16
Home Resales
05Quarter-over-quarter increase in seasonally adjusted annualsales
107250Seasonally Adjusted Annual Sales (SAAR)
60Year-over-year decline in seasonally adjusted annual sales
20 of 39Number of counties with quarter-over-quarter sales in-creases
286Largest quarter-over-quarter gain in seasonally adjustedsales seen in Wahkiakum county
720Largest quarter-over-quarter sales gain in absolute termsseen in King county
16 of 39Number of counties with a quarter-over-quarter decline in
seasonally adjusted sales
200Largest drop in seasonally adjusted quarter-over-quarter
sales seen in Columbia county
330Largest drop in seasonally adjusted quarter-over-quarter
sales in absolute terms seen in Benton county
TwoNumber of counties with sales rates at least ten percent
lower than the previous quarter
10 of 17Number of Metropolitan counties with fewer sales than the
previous quarter
92760Seasonally adjusted annual sales rate in the 17Metropolitan counties (865 of state total)
60000
80000
100000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
17
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
Press and Media Activities
Written commentary each month for NWMLS Press Releases
Several newspaper and magazine features (both for the WCRER and personally cited) including
the Skagit Valley Herald Bellingham Herald The Yakima Herald-Republic Seattle Times Seattle
Met Bloomberg and the Chinook Observer
Future activities
WCRER has been contracted by Fannie Mae to host a seminar and panel discussion on Housing
Supply and Technology in November
Scheduled for Keynote to Washington State Planning Directors Conference in Chelan
Attending the WA Realtors Fall Business Meeting in Kennewick
I hope that this summary is useful to the commission members and those with an interest in real estate
research throughout Washington I look forward to any input and guidance that your office or the
Commissioners may offer on our research program as we continue our outreach and educational
activities
I also look forward to seeing you at the meeting on the 25th If there is any further information that you
require prior to the Real Estate Commission meeting please get in touch with me
Kind Regards
James Young
Director Washington Center for Real Estate Research
13
Washington Statersquos Housing Market 2nd Quarter 2019
Washington Market Highlights Second Quarter 2019
bull Existing home sales rose in the firstquarter by 05 percent to a seasonallyadjusted annual rate of 107250 unitscompared to last quarter and fell 60percent compared to a year earlier
bull Building permit activity rose 233percent from a year earlier total-ing 13648 new units authorized Ofthese 6936 were issued for single-family units
bull The median price home sold in Wash-ington during the second quarter was$410600 100 percent higher than ayear earlier
bull Housing affordability for both all buy-ers and first-time buyers declinedfrom the previous quarter and de-clined the same quarter a year agoThe All-Buyer Housing AffordabilityIndex stayed above 100 in 27 of Wash-ingtonrsquos 39 counties
bull Inventories of homes available for saletotaled 18421 single-family homes atthe end of the quarter a 347 in-crease from the previous quarter anda 15 percent decline from a yearago This inventory level representeda 20 month supply a slight imbal-ance where demand exceeds the sup-ply of homes on the market
60000
80000
100000
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
$200000
$250000
$300000
$350000Q
2 20
09
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Real Estate Commission
WASHINGTON CENTER FOR REAL ESTATE RESEARCH | RUNSTAD DEPARTMENT OF REAL ESTATE | COLLEGE OF BUILT ENVIRONMENTS
14
Washington Statersquos Housing Market is aquarterly report to the Washington RealEstate Commission and the WashingtonState Department of Licensing
Prepared byRunstad Center for Real Estate StudiesCollege of Built EnvironmentsUniversity of Washington424 Gould Hall Box 355740Seattle WA 98195-5740Phone (206) 685-9597Web realestatewashingtoneduE-mail wcreruwedu
James YoungResearch Director
copyCopyright 2019 by the WashingtonCenter for Real Estate Research All rightsreserved
The Washington Center for Real EstateResearch will grant permission to useor reprint material from WashingtonStatersquos Housing Market under appropriatecircumstances
SUBSCRIPTION INFORMATIONWashington Statersquos Housing Market ispublished quarterly by the WashingtonCenter for Real Estate Research Theannual subscription price is $60 plus taxPhone us or visit our Website for moreinformation
second quarter 2019Issued November 2019
Survey Description
Publication Washington Statersquos Housing Market is a publication of the Washington Center forReal Estate Research (WCRER) at the University of Washington
Coverage At least quarterly WCRER receives data on single-family home sales from each multiplelisting service located in or providing market coverage to Washington communities In 2012 dataon nearly 69000 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 assessorsData 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 WCRER does not receive sales dataon individual transactions (only aggregated statistics) the median is determined by the proportionof sales in a given range of prices required to reach the midway point in the distribution Whileaverage 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 dayvariationmdashthe 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
MetropolitanMicropolitan 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 50000 people in the urban core Micropolitan areas are smallercities with 10000-50000 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
Monthrsquos Supply Estimates of monthrsquos 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 [(ListingsSAAR) x 12 = monthrsquos 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 10Mortgage Term 30 years 30 yearsIncome Median Family 70 Median HouseholdMortgage Insurance No Yes (add 025 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
Washington Statersquos Housing MarketndashSecond Quarter 2019
15
Summary
Washington statersquos housing market was mixed in the secondquarter of 2019 with sales falling but new building permitsrising compared with a year ago
The statewide median sales price for a single family home in-creased to $410600 in the second quarter 100 percent lowerthan the same time in 2018
The seasonally adjusted annual rate of existing home salesfell 60 percent from the second quarter of 2018ndashfrom 114110to 107250 This means that if the quarterrsquos pace continuedunchanged for a year that number of homes would be soldAlthough robust the current annual rate of sales is lowerthan the high witnessed in 2003
Home prices rose in fifteen of the statersquos eighteen metropoli-tan counties Statewide Klickitat County recorded the high-est relative increase of 267 percent followed by WahkiakumCounties at 256 percent Median prices were lower thana year earlier in five counties with prices in Ferry Countydecreasing by 74
Given the variety of location and market diversity in thestate median housing prices are highly variable rangingfrom $140000 in Lincoln County to $701200 in King County(San Juan County has the second highest median values at$653600)
Housing affordability fell in the second quarter from the pre-vious and was slightly lower than a year ago That indexndash
where 100 means a middle-income family can just qualify fora median-priced home given a 20 percent down payment anda 30-year fixed mortgage rate at prevailing ratesndashwas 984down from 1061 in the first quarter of 2019 This metricsuggests that given the same down payment and mortgagea middle-income family can afford a home selling for 16 per-cent below the median
Statewide the first-time buyer index fell by 55 points end-ing the quarter at 699 This index assumes a less expensivehome lower down payment and lower income This meansthat a household earning 70 percent of the median house-hold incomendashas may be true of first-time buyersndashhad only699 percent of the income required to purchase a typicalstarter home statewide
Housing affordability varied widely across the state Theleast affordable county is San Juan County with LincolnCounty the most affordable Thirty-three counties espe-cially those in the central Puget Sound present affordabilityissues for newcomers
Affordability remains a challenge in the statersquos housing mar-ket Meanwhile permitting activity is increasing In thesecond quarter of 2019 a total of 13648 building permitswere recorded up (233) from the previous year
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 readerrsquos can more easily pull out the information theyneed especially for variances in location
Washington Center for Real Estate Research University of Washington
16
Home Resales
05Quarter-over-quarter increase in seasonally adjusted annualsales
107250Seasonally Adjusted Annual Sales (SAAR)
60Year-over-year decline in seasonally adjusted annual sales
20 of 39Number of counties with quarter-over-quarter sales in-creases
286Largest quarter-over-quarter gain in seasonally adjustedsales seen in Wahkiakum county
720Largest quarter-over-quarter sales gain in absolute termsseen in King county
16 of 39Number of counties with a quarter-over-quarter decline in
seasonally adjusted sales
200Largest drop in seasonally adjusted quarter-over-quarter
sales seen in Columbia county
330Largest drop in seasonally adjusted quarter-over-quarter
sales in absolute terms seen in Benton county
TwoNumber of counties with sales rates at least ten percent
lower than the previous quarter
10 of 17Number of Metropolitan counties with fewer sales than the
previous quarter
92760Seasonally adjusted annual sales rate in the 17Metropolitan counties (865 of state total)
60000
80000
100000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
17
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
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- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
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-
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- Letrsquos keep in touch
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- PAGE 9 SEPT PACKET
-
Washington Statersquos Housing Market 2nd Quarter 2019
Washington Market Highlights Second Quarter 2019
bull Existing home sales rose in the firstquarter by 05 percent to a seasonallyadjusted annual rate of 107250 unitscompared to last quarter and fell 60percent compared to a year earlier
bull Building permit activity rose 233percent from a year earlier total-ing 13648 new units authorized Ofthese 6936 were issued for single-family units
bull The median price home sold in Wash-ington during the second quarter was$410600 100 percent higher than ayear earlier
bull Housing affordability for both all buy-ers and first-time buyers declinedfrom the previous quarter and de-clined the same quarter a year agoThe All-Buyer Housing AffordabilityIndex stayed above 100 in 27 of Wash-ingtonrsquos 39 counties
bull Inventories of homes available for saletotaled 18421 single-family homes atthe end of the quarter a 347 in-crease from the previous quarter anda 15 percent decline from a yearago This inventory level representeda 20 month supply a slight imbal-ance where demand exceeds the sup-ply of homes on the market
60000
80000
100000
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
$200000
$250000
$300000
$350000Q
2 20
09
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Real Estate Commission
WASHINGTON CENTER FOR REAL ESTATE RESEARCH | RUNSTAD DEPARTMENT OF REAL ESTATE | COLLEGE OF BUILT ENVIRONMENTS
14
Washington Statersquos Housing Market is aquarterly report to the Washington RealEstate Commission and the WashingtonState Department of Licensing
Prepared byRunstad Center for Real Estate StudiesCollege of Built EnvironmentsUniversity of Washington424 Gould Hall Box 355740Seattle WA 98195-5740Phone (206) 685-9597Web realestatewashingtoneduE-mail wcreruwedu
James YoungResearch Director
copyCopyright 2019 by the WashingtonCenter for Real Estate Research All rightsreserved
The Washington Center for Real EstateResearch will grant permission to useor reprint material from WashingtonStatersquos Housing Market under appropriatecircumstances
SUBSCRIPTION INFORMATIONWashington Statersquos Housing Market ispublished quarterly by the WashingtonCenter for Real Estate Research Theannual subscription price is $60 plus taxPhone us or visit our Website for moreinformation
second quarter 2019Issued November 2019
Survey Description
Publication Washington Statersquos Housing Market is a publication of the Washington Center forReal Estate Research (WCRER) at the University of Washington
Coverage At least quarterly WCRER receives data on single-family home sales from each multiplelisting service located in or providing market coverage to Washington communities In 2012 dataon nearly 69000 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 assessorsData 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 WCRER does not receive sales dataon individual transactions (only aggregated statistics) the median is determined by the proportionof sales in a given range of prices required to reach the midway point in the distribution Whileaverage 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 dayvariationmdashthe 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
MetropolitanMicropolitan 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 50000 people in the urban core Micropolitan areas are smallercities with 10000-50000 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
Monthrsquos Supply Estimates of monthrsquos 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 [(ListingsSAAR) x 12 = monthrsquos 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 10Mortgage Term 30 years 30 yearsIncome Median Family 70 Median HouseholdMortgage Insurance No Yes (add 025 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
Washington Statersquos Housing MarketndashSecond Quarter 2019
15
Summary
Washington statersquos housing market was mixed in the secondquarter of 2019 with sales falling but new building permitsrising compared with a year ago
The statewide median sales price for a single family home in-creased to $410600 in the second quarter 100 percent lowerthan the same time in 2018
The seasonally adjusted annual rate of existing home salesfell 60 percent from the second quarter of 2018ndashfrom 114110to 107250 This means that if the quarterrsquos pace continuedunchanged for a year that number of homes would be soldAlthough robust the current annual rate of sales is lowerthan the high witnessed in 2003
Home prices rose in fifteen of the statersquos eighteen metropoli-tan counties Statewide Klickitat County recorded the high-est relative increase of 267 percent followed by WahkiakumCounties at 256 percent Median prices were lower thana year earlier in five counties with prices in Ferry Countydecreasing by 74
Given the variety of location and market diversity in thestate median housing prices are highly variable rangingfrom $140000 in Lincoln County to $701200 in King County(San Juan County has the second highest median values at$653600)
Housing affordability fell in the second quarter from the pre-vious and was slightly lower than a year ago That indexndash
where 100 means a middle-income family can just qualify fora median-priced home given a 20 percent down payment anda 30-year fixed mortgage rate at prevailing ratesndashwas 984down from 1061 in the first quarter of 2019 This metricsuggests that given the same down payment and mortgagea middle-income family can afford a home selling for 16 per-cent below the median
Statewide the first-time buyer index fell by 55 points end-ing the quarter at 699 This index assumes a less expensivehome lower down payment and lower income This meansthat a household earning 70 percent of the median house-hold incomendashas may be true of first-time buyersndashhad only699 percent of the income required to purchase a typicalstarter home statewide
Housing affordability varied widely across the state Theleast affordable county is San Juan County with LincolnCounty the most affordable Thirty-three counties espe-cially those in the central Puget Sound present affordabilityissues for newcomers
Affordability remains a challenge in the statersquos housing mar-ket Meanwhile permitting activity is increasing In thesecond quarter of 2019 a total of 13648 building permitswere recorded up (233) from the previous year
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 readerrsquos can more easily pull out the information theyneed especially for variances in location
Washington Center for Real Estate Research University of Washington
16
Home Resales
05Quarter-over-quarter increase in seasonally adjusted annualsales
107250Seasonally Adjusted Annual Sales (SAAR)
60Year-over-year decline in seasonally adjusted annual sales
20 of 39Number of counties with quarter-over-quarter sales in-creases
286Largest quarter-over-quarter gain in seasonally adjustedsales seen in Wahkiakum county
720Largest quarter-over-quarter sales gain in absolute termsseen in King county
16 of 39Number of counties with a quarter-over-quarter decline in
seasonally adjusted sales
200Largest drop in seasonally adjusted quarter-over-quarter
sales seen in Columbia county
330Largest drop in seasonally adjusted quarter-over-quarter
sales in absolute terms seen in Benton county
TwoNumber of counties with sales rates at least ten percent
lower than the previous quarter
10 of 17Number of Metropolitan counties with fewer sales than the
previous quarter
92760Seasonally adjusted annual sales rate in the 17Metropolitan counties (865 of state total)
60000
80000
100000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
17
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
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- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
Washington Statersquos Housing Market is aquarterly report to the Washington RealEstate Commission and the WashingtonState Department of Licensing
Prepared byRunstad Center for Real Estate StudiesCollege of Built EnvironmentsUniversity of Washington424 Gould Hall Box 355740Seattle WA 98195-5740Phone (206) 685-9597Web realestatewashingtoneduE-mail wcreruwedu
James YoungResearch Director
copyCopyright 2019 by the WashingtonCenter for Real Estate Research All rightsreserved
The Washington Center for Real EstateResearch will grant permission to useor reprint material from WashingtonStatersquos Housing Market under appropriatecircumstances
SUBSCRIPTION INFORMATIONWashington Statersquos Housing Market ispublished quarterly by the WashingtonCenter for Real Estate Research Theannual subscription price is $60 plus taxPhone us or visit our Website for moreinformation
second quarter 2019Issued November 2019
Survey Description
Publication Washington Statersquos Housing Market is a publication of the Washington Center forReal Estate Research (WCRER) at the University of Washington
Coverage At least quarterly WCRER receives data on single-family home sales from each multiplelisting service located in or providing market coverage to Washington communities In 2012 dataon nearly 69000 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 assessorsData 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 WCRER does not receive sales dataon individual transactions (only aggregated statistics) the median is determined by the proportionof sales in a given range of prices required to reach the midway point in the distribution Whileaverage 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 dayvariationmdashthe 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
MetropolitanMicropolitan 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 50000 people in the urban core Micropolitan areas are smallercities with 10000-50000 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
Monthrsquos Supply Estimates of monthrsquos 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 [(ListingsSAAR) x 12 = monthrsquos 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 10Mortgage Term 30 years 30 yearsIncome Median Family 70 Median HouseholdMortgage Insurance No Yes (add 025 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
Washington Statersquos Housing MarketndashSecond Quarter 2019
15
Summary
Washington statersquos housing market was mixed in the secondquarter of 2019 with sales falling but new building permitsrising compared with a year ago
The statewide median sales price for a single family home in-creased to $410600 in the second quarter 100 percent lowerthan the same time in 2018
The seasonally adjusted annual rate of existing home salesfell 60 percent from the second quarter of 2018ndashfrom 114110to 107250 This means that if the quarterrsquos pace continuedunchanged for a year that number of homes would be soldAlthough robust the current annual rate of sales is lowerthan the high witnessed in 2003
Home prices rose in fifteen of the statersquos eighteen metropoli-tan counties Statewide Klickitat County recorded the high-est relative increase of 267 percent followed by WahkiakumCounties at 256 percent Median prices were lower thana year earlier in five counties with prices in Ferry Countydecreasing by 74
Given the variety of location and market diversity in thestate median housing prices are highly variable rangingfrom $140000 in Lincoln County to $701200 in King County(San Juan County has the second highest median values at$653600)
Housing affordability fell in the second quarter from the pre-vious and was slightly lower than a year ago That indexndash
where 100 means a middle-income family can just qualify fora median-priced home given a 20 percent down payment anda 30-year fixed mortgage rate at prevailing ratesndashwas 984down from 1061 in the first quarter of 2019 This metricsuggests that given the same down payment and mortgagea middle-income family can afford a home selling for 16 per-cent below the median
Statewide the first-time buyer index fell by 55 points end-ing the quarter at 699 This index assumes a less expensivehome lower down payment and lower income This meansthat a household earning 70 percent of the median house-hold incomendashas may be true of first-time buyersndashhad only699 percent of the income required to purchase a typicalstarter home statewide
Housing affordability varied widely across the state Theleast affordable county is San Juan County with LincolnCounty the most affordable Thirty-three counties espe-cially those in the central Puget Sound present affordabilityissues for newcomers
Affordability remains a challenge in the statersquos housing mar-ket Meanwhile permitting activity is increasing In thesecond quarter of 2019 a total of 13648 building permitswere recorded up (233) from the previous year
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 readerrsquos can more easily pull out the information theyneed especially for variances in location
Washington Center for Real Estate Research University of Washington
16
Home Resales
05Quarter-over-quarter increase in seasonally adjusted annualsales
107250Seasonally Adjusted Annual Sales (SAAR)
60Year-over-year decline in seasonally adjusted annual sales
20 of 39Number of counties with quarter-over-quarter sales in-creases
286Largest quarter-over-quarter gain in seasonally adjustedsales seen in Wahkiakum county
720Largest quarter-over-quarter sales gain in absolute termsseen in King county
16 of 39Number of counties with a quarter-over-quarter decline in
seasonally adjusted sales
200Largest drop in seasonally adjusted quarter-over-quarter
sales seen in Columbia county
330Largest drop in seasonally adjusted quarter-over-quarter
sales in absolute terms seen in Benton county
TwoNumber of counties with sales rates at least ten percent
lower than the previous quarter
10 of 17Number of Metropolitan counties with fewer sales than the
previous quarter
92760Seasonally adjusted annual sales rate in the 17Metropolitan counties (865 of state total)
60000
80000
100000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
17
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
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- Slide Number 1
- Slide Number 2
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- PAGE 9 SEPT PACKET
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Summary
Washington statersquos housing market was mixed in the secondquarter of 2019 with sales falling but new building permitsrising compared with a year ago
The statewide median sales price for a single family home in-creased to $410600 in the second quarter 100 percent lowerthan the same time in 2018
The seasonally adjusted annual rate of existing home salesfell 60 percent from the second quarter of 2018ndashfrom 114110to 107250 This means that if the quarterrsquos pace continuedunchanged for a year that number of homes would be soldAlthough robust the current annual rate of sales is lowerthan the high witnessed in 2003
Home prices rose in fifteen of the statersquos eighteen metropoli-tan counties Statewide Klickitat County recorded the high-est relative increase of 267 percent followed by WahkiakumCounties at 256 percent Median prices were lower thana year earlier in five counties with prices in Ferry Countydecreasing by 74
Given the variety of location and market diversity in thestate median housing prices are highly variable rangingfrom $140000 in Lincoln County to $701200 in King County(San Juan County has the second highest median values at$653600)
Housing affordability fell in the second quarter from the pre-vious and was slightly lower than a year ago That indexndash
where 100 means a middle-income family can just qualify fora median-priced home given a 20 percent down payment anda 30-year fixed mortgage rate at prevailing ratesndashwas 984down from 1061 in the first quarter of 2019 This metricsuggests that given the same down payment and mortgagea middle-income family can afford a home selling for 16 per-cent below the median
Statewide the first-time buyer index fell by 55 points end-ing the quarter at 699 This index assumes a less expensivehome lower down payment and lower income This meansthat a household earning 70 percent of the median house-hold incomendashas may be true of first-time buyersndashhad only699 percent of the income required to purchase a typicalstarter home statewide
Housing affordability varied widely across the state Theleast affordable county is San Juan County with LincolnCounty the most affordable Thirty-three counties espe-cially those in the central Puget Sound present affordabilityissues for newcomers
Affordability remains a challenge in the statersquos housing mar-ket Meanwhile permitting activity is increasing In thesecond quarter of 2019 a total of 13648 building permitswere recorded up (233) from the previous year
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 readerrsquos can more easily pull out the information theyneed especially for variances in location
Washington Center for Real Estate Research University of Washington
16
Home Resales
05Quarter-over-quarter increase in seasonally adjusted annualsales
107250Seasonally Adjusted Annual Sales (SAAR)
60Year-over-year decline in seasonally adjusted annual sales
20 of 39Number of counties with quarter-over-quarter sales in-creases
286Largest quarter-over-quarter gain in seasonally adjustedsales seen in Wahkiakum county
720Largest quarter-over-quarter sales gain in absolute termsseen in King county
16 of 39Number of counties with a quarter-over-quarter decline in
seasonally adjusted sales
200Largest drop in seasonally adjusted quarter-over-quarter
sales seen in Columbia county
330Largest drop in seasonally adjusted quarter-over-quarter
sales in absolute terms seen in Benton county
TwoNumber of counties with sales rates at least ten percent
lower than the previous quarter
10 of 17Number of Metropolitan counties with fewer sales than the
previous quarter
92760Seasonally adjusted annual sales rate in the 17Metropolitan counties (865 of state total)
60000
80000
100000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
17
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
Home Resales
05Quarter-over-quarter increase in seasonally adjusted annualsales
107250Seasonally Adjusted Annual Sales (SAAR)
60Year-over-year decline in seasonally adjusted annual sales
20 of 39Number of counties with quarter-over-quarter sales in-creases
286Largest quarter-over-quarter gain in seasonally adjustedsales seen in Wahkiakum county
720Largest quarter-over-quarter sales gain in absolute termsseen in King county
16 of 39Number of counties with a quarter-over-quarter decline in
seasonally adjusted sales
200Largest drop in seasonally adjusted quarter-over-quarter
sales seen in Columbia county
330Largest drop in seasonally adjusted quarter-over-quarter
sales in absolute terms seen in Benton county
TwoNumber of counties with sales rates at least ten percent
lower than the previous quarter
10 of 17Number of Metropolitan counties with fewer sales than the
previous quarter
92760Seasonally adjusted annual sales rate in the 17Metropolitan counties (865 of state total)
60000
80000
100000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Exi
stin
g H
ome
Sal
es (
SA
AR
)
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
17
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
HousingConstruction
13648Number of building permits issued during the quarter
233Increase in year-over-year total number of permits
452Increase in quarter-over-quarter total number of permits
105Increase in year-over-year single family permits (657 moreunits)
402Increase in year-over-year multifamily permits (1924moreunits)
2455Greatest year-over-year increase in permits in a
Metropolitan county (Douglas county 27 additionalunits)
1625Greatest year-over-year increase in permits in a
non-Metropolitan county (Adams county 13 additionalunits)
24 of 28Number of counties with more than a 10 increase in
single family permits of the total number of counties withan increase in single family permits as compared to one
year ago
8 of 11Number of counties with more than a 10 decrease in
single family permits of the total number of counties with adecrease in single family permits as compared to one year
ago
3 of 4Number of counties in the central Puget Sound had a
year-over-year increase in single family permits
Washington Center for Real Estate Research University of Washington
18
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
$ 200000
$ 250000
$ 300000
$ 350000
$ 400000
2000
4000
6000
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Med
ian
Hom
e P
rices
Per
mits
Issu
ed
Multifamily units
Singleminusfamily units
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
19
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
Home Prices
$410600Median selling price of a single family home
100Year-over-year increase in median selling price of a singlefamily home
134Year-over-year decrease in the Federal Housing FinanceAgency (FHFA) repeat sales index
$701200Highest median price in the state seen in King county
$140000Lowest median price in the state seen in Lincoln county
$206000Lowest median price in a Metropolitan county seen inAsotin and Garfield counties
$153300ndash$387700Range of prices in Micropolitan areas (Adams to Island)
Zero of FiveNumber of counties with year-over-year price declines ofmore than ten percent
Fourteen of Thirty-threeNumber of counties with year-over-year price increases ofmore than ten percent
100 55 amp 31Year-over-year price change in eastern Washington WesternWashington and the central Puget Sound
Big PlayersChanges for the five largest counties by sales volumeKing -39
Pierce 53
Snohomish 12
Spokane 96
Thurston 67
Prices by Bedroom
$296700Median price for a 2-bedroom single family home a 98
year-over-year increase
$368500Median price for a 3-bedroom single family home a 47
year-over-year increase
$639000Median price for a 4-bedroom single family home a 374
year-over-year increase
139
472
389
Q2 2019
Bedrooms
4
3
2
Sales by Number of Bedrooms
1 of 17Number of Metropolitan counties with price declines in
2-bedroom homes
27Biggest decline in price of a 2-bedroom home in a
Metropolitan county seen in King county
ThreeNumber of Metropolitan counties with year-over-year priceincreases of 20 or more for 2-bedroom homes (Douglas
Skagit and Walla Walla counties)
One amp SixNumber of Metropolitan counties with price declines in
3-bedroom and 4-bedroom homes
Washington Center for Real Estate Research University of Washington
20
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
HousingAffordability
100Year-over-year increase in home prices
Worse amp WorseStatewide all-buyer housing affordability as compared to lastquarter and last year
984Statewide all-buyer housing affordability index
515 to 2031Range of affordability index scores across the state low inSan Juan county and high in Lincoln county
14 of 39Number of counties with statewide all-buyer affordabilitylower than a year ago
714 amp 862Lowest affordability index values in Metropolitan (King)
and micropolitan (Clallam) counties
699Statewide first-time housing affordability index downfrom the previous quarter and down from last year
6 of 39Number of counties with a first-time affordability index
greater than 100 (affordable)
508 to 1074Range of values for first-time affordability among
metropolitan counties Low in King county and high inAsotin county
612 to 1218Range of values for first-time affordability among
micropolitan counties Low in Clallam county and high inAdams county
100
150
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Firstminustime HAIHAI
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
21
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
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- Slide Number 1
- Slide Number 2
- Slide Number 3
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- Slide Number 10
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- PAGE 9 SEPT PACKET
-
Availability ofAffordable Housing
$74200Statewide median household income
$43310 to $91965Range of median household income values Low in Pendcounty and high in King county
09Statewide inventory priced below $80000 declined from
12 from a year ago
30 of 39Number of counties with less than 2 of homes priced
below $80000
0 amp 0Homes in King and San Juan counties below $80000
41Statewide inventory priced below $160000 declined from
62 a year ago
01 to 415Range of availability of homes below $160000 in
Metropolitan counties Low in King county and high inFerry county
Available Inventory
18421Number of homes available for sale at the end of the quarter
4749 amp 286Increase from last quarter (347) and decline from lastyear (15)
4613 amp 1860Largest inventories seen in King county and Pierce countyUp 399 and down 403 from last quarter
Five of FiveNumber of counties with more than 1000 listing that hadan increase over last quarter
0 of 39Number of counties with a decline in listings since the last
quarter
20Monthrsquos supply of housing 24 last quarter and 20 last
year
13 to 95Range of monthrsquos supply across the countiesndashlow in
Thurston county high in Columbia county
NineNumber of counties with less than five monthrsquos supply of
homes priced over $500000
0 amp 5Numbers of counties with more than a yearrsquos supply of
homes and more than a yearrsquos supply of homes priced over$500000
Washington Center for Real Estate Research University of Washington
22
10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
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- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
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- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
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- Slide Number 1
- Slide Number 2
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10000
20000
30000
40000
50000
26
53
79
106
Q2
2009
Q2
2010
Q2
2011
Q2
2012
Q2
2013
Q2
2014
Q2
2015
Q2
2016
Q2
2017
Q2
2018
Q2
2019
Act
ive
List
ings
Mon
ths
Sup
ply
Ten year time trend (Q2 2009minusQ2 2019)
Washington Statersquos Housing MarketndashSecond Quarter 2019
23
HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
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- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
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- PAGE 8 SEPT PACKET
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- Slide Number 1
- Slide Number 2
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- PAGE 9 SEPT PACKET
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HOUSING MARKET SNAPSHOT
State of Washington and CountiesSecond Quarter 2019
County SAAR Change
by qtr Change
by yearBuildingPermits
Changeby year
MedianResale
Price ($) Change
by year HAI
First-timeHAI
Adams 170 0 62 21 1625 $153300 -32 1714 1218Asotin 240 -77 -111 7 167 $206000 -07 1511 1074Benton 3740 -81 -88 1147 803 $304400 102 1172 833Chelan 920 -42 -107 202 403 $361000 81 1015 721Clallam 1050 -28 -62 48 -59 $306800 45 862 612Clark 6900 1 -6 1298 465 $369300 22 1145 813
Columbia 80 -20 -385 1 -75 $173200 18 1436 102Cowlitz 1390 -21 -86 59 204 $274100 154 944 671Douglas 580 -108 -121 38 2455 $351000 7 885 628
Ferry 110 10 0 2 -60 $162000 -74 1592 1131Franklin 1250 -88 -94 373 751 $304400 102 1201 853Garfield 50 0 0 1 -50 $206000 -07 1269 902Grant 1030 -37 -28 53 893 $226500 9 164 1165
Grays Harbor 1910 05 -05 35 -54 $211400 12 1152 818Island 1960 -05 -97 40 53 $387700 26 865 615
Jefferson 650 16 -71 112 1545 $383300 12 794 564King 25750 29 -68 4950 37 $701200 -39 714 508
Kitsap 4660 -06 -77 468 821 $380800 71 1078 766Kittitas 1130 37 -74 105 1188 $345600 21 95 675Klickitat 250 0 -107 28 100 $316700 267 106 753
Lewis 1270 16 -31 101 74 $258300 152 116 824Lincoln 150 -62 -118 7 1333 $140000 0 2031 1443Mason 1350 23 -43 66 404 $271800 131 1268 901
Okanogan 500 2 111 24 100 $223600 109 1138 808Pacific 580 94 115 13 83 $216700 187 118 838
Pend Oreille 300 34 0 14 273 $195000 73 121 86Pierce 15230 07 -63 810 -549 $372300 53 1038 738
San Juan 320 32 -111 59 341 $653600 171 515 366Skagit 2140 24 -66 119 -247 $385600 126 931 662
Skamania 240 91 -77 24 412 $328600 252 991 704Snohomish 10280 29 -28 1414 188 $500600 12 96 682
Spokane 8600 -28 -66 807 23 $277400 96 1017 722Stevens 890 23 0 18 -53 $195000 73 1307 929
Thurston 5290 11 -42 419 475 $340700 67 1208 858Wahkiakum 90 286 125 3 -25 $270800 256 1021 725Walla Walla 830 -35 -88 33 -283 $267800 8 1112 79
Whatcom 3130 16 -57 561 845 $407700 59 881 626Whitman 420 -67 -87 23 -361 $287900 72 1053 748Yakima 1830 -16 -42 145 368 $244700 58 1033 734
Statewide 107250 05 -6 13648 233 $410600 10 984 699
1 Home Resales are Runstad Center estimates based on MLS reports or deed recording2 SAAR means data presented at Seasonally Adjusted Annual Rates allowing qtr-to-qtr comparison3 Building permits (total) are from the US Department of Commerce Bureau of the Census For less populous counties building permit data prior to 2017 may be based uponsampled estimates4 Median prices are Runstad Center estimates of the point at which half of existing home sales occured at higher prices and half at lower prices5 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 mortgageFirst-time buyer affordability index assumes a less expensive home lower downpayment and lower income6 Whitman Benton and Franklin Counties figures cannot be compared to reports released prior to Q22015
Washington Center for Real Estate Research University of Washington
24
EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
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- Slide Number 1
- Slide Number 2
- Slide Number 3
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- PAGE 9 SEPT PACKET
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EXISTING HOME SALES
State of Washington and CountiesSeasonally Adjusted Annual Rate
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 160 170 170 170 170 00 62Asotin 270 270 290 260 240 -77 -111Benton 4100 4100 4270 4070 3740 -81 -88Chelan 1030 1010 990 960 920 -42 -107Clallam 1120 1110 1120 1080 1050 -28 -62Clark 7340 7300 7120 6830 6900 10 -60
Columbia 130 130 120 100 80 -200 -385Cowlitz 1520 1530 1520 1420 1390 -21 -86Douglas 660 660 640 650 580 -108 -121
Ferry 110 110 100 100 110 100 00Franklin 1380 1380 1430 1370 1250 -88 -94Garfield 50 50 60 50 50 00 00Grant 1060 1080 1090 1070 1030 -37 -28
Grays Harbor 1920 1950 1890 1900 1910 05 -05Island 2170 2090 2040 1970 1960 -05 -97
Jefferson 700 710 680 640 650 16 -71King 27640 27080 26090 25030 25750 29 -68
Kitsap 5050 5100 4880 4690 4660 -06 -77Kittitas 1220 1200 1140 1090 1130 37 -74Klickitat 280 280 260 250 250 00 -107
Lewis 1310 1300 1290 1250 1270 16 -31Lincoln 170 190 180 160 150 -62 -118Mason 1410 1420 1380 1320 1350 23 -43
Okanogan 450 470 500 490 500 20 111Pacific 520 560 550 530 580 94 115Pend 300 320 310 290 300 34 00Pierce 16250 16140 15660 15120 15230 07 -63
San Juan 360 350 340 310 320 32 -111Skagit 2290 2260 2160 2090 2140 24 -66
Skamania 260 280 260 220 240 91 -77Snohomish 10580 11030 10520 9990 10280 29 -28
Spokane 9210 9420 9290 8850 8600 -28 -66Stevens 890 940 930 870 890 23 00
Thurston 5520 5600 5400 5230 5290 11 -42Wahkiakum 80 90 80 70 90 286 125Walla Walla 910 910 890 860 830 -35 -88
Whatcom 3320 3280 3150 3080 3130 16 -57Whitman 460 460 460 450 420 -67 -87Yakima 1910 1920 1940 1860 1830 -16 -42
Statewide 114110 114250 111200 106740 107250 05 -60
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
25
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
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-
- PAGE 9 SEPT PACKET
-
EXISTING HOME SALES
State of Washington and CountiesNot Seasonally Adjusted
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by qtr Change
by year
Adams 40 40 40 40 40 00 00Asotin 70 70 70 60 60 00 -143Benton 1040 1040 1060 980 950 -31 -87Chelan 260 260 240 230 230 00 -115Clallam 280 290 280 260 270 38 -36Clark 1880 1870 1760 1660 1770 66 -59
Columbia 30 30 30 20 20 00 -333Cowlitz 390 390 380 350 360 29 -77Douglas 160 170 160 150 150 00 -62
Ferry 30 30 20 20 30 500 00Franklin 350 350 360 330 320 -30 -86Garfield 10 10 10 10 10 00 00Grant 270 280 270 250 260 40 -37
Grays Harbor 490 500 480 460 490 65 00Island 540 540 500 460 490 65 -93
Jefferson 180 180 170 160 160 00 -111King 7130 6970 6480 6030 6660 104 -66
Kitsap 1290 1310 1210 1130 1200 62 -70Kittitas 310 310 290 260 280 77 -97Klickitat 70 70 70 60 60 00 -143
Lewis 330 330 320 310 320 32 -30Lincoln 50 50 50 40 40 00 -200Mason 360 370 340 320 350 94 -28
Okanogan 120 130 120 110 130 182 83Pacific 130 140 140 130 140 77 77Pend 80 80 80 70 80 143 00Pierce 4120 4130 3900 3680 3880 54 -58
San Juan 90 90 90 70 80 143 -111Skagit 580 580 540 510 550 78 -52
Skamania 70 70 70 60 60 00 -143Snohomish 2690 2820 2600 2410 2630 91 -22
Spokane 2370 2430 2310 2110 2230 57 -59Stevens 230 240 230 210 230 95 00
Thurston 1410 1440 1350 1260 1360 79 -35Wahkiakum 20 20 20 20 20 00 00Walla Walla 230 230 220 200 210 50 -87
Whatcom 840 850 790 730 800 96 -48Whitman 120 120 110 110 120 91 00Yakima 490 490 490 450 470 44 -41
Statewide 29120 29330 27660 25720 27510 70 -55
WCRER Estimates
Washington Center for Real Estate Research University of Washington
26
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
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- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
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- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
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- Slide Number 1
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- PAGE 9 SEPT PACKET
-
EXISTING HOME SALES
State of Washington and CountiesAnnual 2012-2018
County 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 120 90 100 90 120 140 160 143Asotin 190 220 240 320 280 240 300 25Benton 2560 2940 3050 4030 4300 3960 4130 43Chelan 730 810 550 740 1040 980 980 0Clallam 710 950 810 630 1040 1040 1130 87Clark 5420 6560 6410 7220 8160 7410 6960 -61
Columbia 70 110 90 190 80 120 110 -83Cowlitz 790 1060 1050 1240 1350 1530 1460 -46Douglas 340 460 380 430 570 570 640 123
Ferry 40 50 50 60 70 100 110 10Franklin 860 990 1020 1350 1440 1330 1390 45Garfield 40 40 50 60 50 50 60 20Grant 590 980 830 870 890 980 1080 102
GraysHarbor 950 1130 1310 1360 1690 1880 1920 21Island 1110 1870 1570 1750 1920 2110 2000 -52
Jefferson 410 510 560 650 680 690 670 -29King 21920 25650 25180 26370 28350 28020 25540 -89
Kitsap 2940 3650 3920 3780 4720 5110 4820 -57Kittitas 880 840 880 1090 1170 1260 1130 -103Klickitat 190 230 240 270 260 330 250 -242
Lewis 870 1110 910 1000 1120 1320 1290 -23Lincoln 120 60 210 80 80 160 160 0Mason 700 830 1030 1030 1170 1420 1380 -28
Okanogan 280 330 340 390 420 450 490 89Pacific 280 360 400 480 530 520 560 77Pend 190 270 210 240 250 280 330 179Pierce 8980 11230 11450 12650 14570 16000 15580 -26
SanJuan 230 310 310 290 330 360 340 -56Skagit 1350 1760 1840 1990 2390 2350 2160 -81
Skamania 160 210 210 220 280 270 250 -74Snohomish 8480 9430 9240 10030 11390 11240 10050 -106
Spokane 3330 6190 7600 7040 8440 9420 9190 -24Stevens 570 790 630 710 720 830 960 157
Thurston 2910 6270 3620 3950 4860 5560 5390 -31Wahkiakum 80 50 140 120 120 80 70 -125WallaWalla 560 660 710 750 900 890 870 -22Whatcom 2190 3360 2690 3040 3230 3320 3120 -6Whitman 300 400 330 460 450 400 460 15Yakima 1310 1520 1670 1850 1930 1860 1940 43
Statewide 73750 94280 91830 98820 111360 114580 109430 -45
Number of single-family units sold excluding new construction
Washington Statersquos Housing MarketndashSecond Quarter 2019
27
MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
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- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
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- Slide Number 1
- Slide Number 2
- Slide Number 3
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- PAGE 9 SEPT PACKET
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MEDIAN HOME PRICES
State of Washington and CountiesTime Trend
County Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Change
by year
Adams $158300 $164000 $190000 $240000 $153300 -32Asotin $207500 $210400 $212800 $207000 $206000 -07Benton $276300 $282700 $278500 $291500 $304400 102Chelan $334100 $350000 $343000 $326100 $361000 81Clallam $293700 $309100 $296100 $279800 $306800 45Clark $361200 $364900 $359200 $361100 $369300 22
Columbia $146800 $161100 $164600 $167800 $173200 180Cowlitz $237600 $252900 $248500 $261600 $274100 154Douglas $327900 $325500 $316700 $325000 $351000 70
Ferry $175000 $166000 $167000 $165000 $162000 -74Franklin $276300 $282700 $278500 $291500 $304400 102Garfield $207500 $210400 $212800 $207000 $206000 -07Grant $207800 $200000 $212300 $195500 $226500 90
Grays Harbor $188800 $191400 $199500 $199000 $211400 120Island $377900 $383700 $344300 $355800 $387700 26
Jefferson $378700 $359700 $386800 $387500 $383300 12King $729800 $685000 $657300 $656600 $701200 -39
Kitsap $355600 $357600 $345100 $354400 $380800 71Kittitas $338500 $331100 $353300 $342200 $345600 21Klickitat $250000 $272500 $275000 $231200 $316700 267
Lewis $224300 $245600 $227000 $251900 $258300 152Lincoln $140000 $108000 $140000 $140000 $140000 00Mason $240300 $249100 $250000 $239500 $271800 131
Okanogan $201700 $228300 $213500 $173600 $223600 109Pacific $182500 $180700 $212000 $191200 $216700 187Pend $181700 $204300 $188500 $228600 $195000 73Pierce $353700 $357200 $342200 $354600 $372300 53
San Juan $558300 $564300 $568700 $633300 $653600 171Skagit $342300 $358000 $362300 $345700 $385600 126
Skamania $262500 $312500 $295800 $275000 $328600 252Snohomish $494600 $485600 $473200 $479800 $500600 12
Spokane $253200 $252800 $247400 $255600 $277400 96Stevens $181700 $204300 $188500 $228600 $195000 73
Thurston $319300 $320800 $317500 $324300 $340700 67Wahkiakum $215600 $238100 $257200 $253500 $270800 256Walla Walla $247900 $259600 $249300 $241700 $267800 80
Whatcom $385000 $388300 $388700 $382500 $407700 59Whitman $268600 $269000 $246900 $289100 $287900 72Yakima $231200 $233100 $227800 $230500 $244700 58
Statewide $373400 $368900 $356100 $374700 $410600 100
WCRER Estimates
Washington Center for Real Estate Research University of Washington
28
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
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- PAGE 9 SEPT PACKET
-
HOME PRICES BY BEDROOMS
State of Washington and CountiesSecond Quarters
2 bedrooms 3 bedrooms 4+ bedrooms
County Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change Q2 2018 Q2 2019
Change
Adams 75000 75000 0 176700 138000 -219 145000 212500 466Asotin 143100 160000 118 224200 256200 143 247000 225000 -89Benton 159400 176700 109 253800 281000 107 334300 351900 53Chelan 238600 250000 48 329300 342900 41 395000 455600 153Clallam 259200 242900 -63 316900 327000 32 292600 315900 8Clark 259600 266000 25 333700 346700 39 435500 434900 -01
Columbia 77500 75000 -32 180000 216700 204 400000 170000 -575Cowlitz 171300 192200 122 245400 271900 108 297600 333700 121Douglas 180000 225000 25 313200 341000 89 410700 413600 07
Ferry 250000 68300 -727 190000 225000 184 200000 312500 562Franklin 159400 176700 109 253800 281000 107 334300 351900 53Garfield 143100 160000 118 224200 256200 143 247000 225000 -89Grant 125000 146700 174 194700 215400 106 275000 294100 69
Grays Harbor 166700 192300 154 204300 224200 97 219400 229200 45Island 369400 368700 -02 363700 379000 42 439600 438500 -03
Jefferson 356200 345000 -31 390600 370000 -53 537500 791700 473King 587500 571800 -27 656400 625700 -47 872200 847400 -28
Kitsap 279600 295000 55 341200 368500 8 445500 461900 37Kittitas 283300 300000 59 327800 346200 56 397700 395000 -07Klickitat 150000 225000 50 293700 315000 73 350000 425000 214
Lewis 158600 167500 56 229300 273900 195 264600 296400 12Lincoln 120000 140000 167 140000 140000 0 150000 250000 667Mason 186200 221700 191 254200 286000 125 312500 293700 -6
Okanogan 180000 186700 37 170000 255000 50 275000 231200 -159Pacific 171700 185600 81 198300 247500 248 195000 262500 346
Pend Oreille 136700 145000 61 210400 219600 44 220000 261100 187Pierce 252500 286400 134 333300 348300 45 409800 428300 45
San Juan 475000 625000 316 600000 687500 146 900000 1000000 111Skagit 247800 315400 273 344000 375800 92 437500 488500 117
Skamania 150000 275000 833 287500 340000 183 400000 350000 -125Snohomish 367300 369500 06 449800 453800 09 588100 574900 -22
Spokane 152000 170600 122 230400 259000 124 295800 328200 11Stevens 136700 145000 61 210400 219600 44 220000 261100 187
Thurston 267100 281500 54 298700 326100 92 367700 375000 2Wahkiakum 525000 212500 -595 208300 266700 28 325000 291700 -102Walla Walla 130000 190000 462 255600 270800 59 305000 300000 -16
Whatcom 281600 304200 8 373800 395700 59 448600 505400 127Whitman 148300 182500 231 247700 267900 82 310700 340300 95Yakima 139000 152500 97 229300 238800 41 300000 306200 21
Statewide 270200 296700 98 352100 368500 47 465100 639000 374
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
29
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
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- Slide Number 8
- Slide Number 9
- Slide Number 10
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- PAGE 9 SEPT PACKET
-
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesSecond Quarter 2019
CountyMedian
PriceMortgage
RateHousehold
IncomeMonthlyPayment HAI
StarterMonthlyPayment
First-timeHAI
Adams $153300 407 $48231 $590 1714 $581 1218Asotin $206000 407 $57153 $793 1511 $781 1074Benton $304400 407 $65515 $1172 1172 $1155 833Chelan $361000 407 $67285 $1390 1015 $1369 721Clallam $306800 407 $48528 $1181 862 $1164 612Clark $369300 407 $77614 $1422 1145 $1401 813
Columbia $173200 407 $45660 $667 1436 $657 102Cowlitz $274100 407 $47496 $1055 944 $1040 671Douglas $351000 407 $57000 $1351 885 $1331 628
Ferry $162000 407 $47332 $623 1592 $614 1131Franklin $304400 407 $67085 $1172 1201 $1155 853Garfield $206000 407 $48002 $793 1269 $781 902Grant $226500 407 $68168 $872 164 $859 1165
Grays Harbor $211400 407 $44706 $814 1152 $802 818Island $387700 407 $61574 $1493 865 $1471 615
Jefferson $383300 407 $55888 $1476 794 $1454 564King $701200 407 $91965 $2700 714 $2660 508
Kitsap $380800 407 $75387 $1466 1078 $1445 766Kittitas $345600 407 $60269 $1331 95 $1311 675Klickitat $316700 407 $61648 $1219 106 $1201 753
Lewis $258300 407 $55011 $994 116 $980 824Lincoln $140000 407 $52195 $539 2031 $531 1443Mason $271800 407 $63285 $1046 1268 $1031 901
Okanogan $223600 407 $46700 $861 1138 $848 808Pacific $216700 407 $46926 $834 118 $822 838
Pend Oreille $195000 407 $43310 $751 121 $739 86Pierce $372300 407 $70972 $1433 1038 $1412 738
San Juan $653600 407 $61749 $2517 515 $2480 366Skagit $385600 407 $65923 $1485 931 $1463 662
Skamania $328600 407 $59795 $1265 991 $1246 704Snohomish $500600 407 $88253 $1928 96 $1899 682
Spokane $277400 407 $51783 $1068 1017 $1052 722Stevens $195000 407 $46792 $751 1307 $739 929
Thurston $340700 407 $75539 $1312 1208 $1292 858Wahkiakum $270800 407 $50737 $1043 1021 $1027 725Walla Walla $267800 407 $54655 $1031 1112 $1016 79
Whatcom $407700 407 $65902 $1570 881 $1547 626Whitman $287900 407 $55675 $1108 1053 $1092 748Yakima $244700 407 $46416 $942 1033 $928 734
Statewide $410600 407 $74200 $1581 984 $1558 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpayment First-time buyer index assumes 10 downIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
30
HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
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- PAGE 6 SEPT PACKET
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HOUSING AFFORDABILITY INDEX
State of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1794 1773 1802 1643 1508 1442 1302 1078 1714Asotin 1324 1396 1502 142 1363 1343 1356 1405 1511Benton 1405 1414 1406 1272 1174 1152 117 1198 1172Chelan 1084 972 107 1079 997 944 973 1082 1015Clallam 951 975 964 914 818 78 81 917 862Clark 1124 1133 1189 1136 1064 1055 1088 1121 1145
Columbia 1762 186 1671 1505 1539 1461 1396 1417 1436Cowlitz 1189 1152 1108 999 989 929 939 981 944Douglas 1057 1003 1073 996 86 846 904 928 885
Ferry 2257 2074 1726 1584 1339 1489 1445 1548 1592Franklin 1364 1389 1403 1307 1202 120 1246 1231 1201Garfield 1317 1355 1373 1232 1145 117 1127 1219 1269Grant 1713 1648 1653 1904 1624 1693 1617 1808 164
Grays Harbor 1459 1461 1307 1227 1172 1162 1105 1195 1152Island 976 953 991 915 806 788 881 921 865
Jefferson 872 819 863 799 73 769 718 766 794King 725 752 771 724 624 681 689 762 714
Kitsap 1152 1182 1229 117 1049 1053 1093 1106 1078Kittitas 1034 1088 994 967 881 942 885 905 95Klickitat 1206 113 1253 1186 122 1073 1097 147 106
Lewis 1427 1312 1315 1322 1214 1108 1204 1125 116Lincoln 3095 3095 2647 2684 1845 2422 183 1969 2031Mason 1547 1469 1455 1391 1303 1241 122 1348 1268
Okanogan 1312 1109 1213 1074 1146 1037 1118 143 1138Pacific 142 1491 1391 1281 1273 1292 1106 1307 118Pend 1351 1373 1255 1306 118 1042 1105 1034 121Pierce 1116 1056 1156 1081 993 985 1035 1041 1038
San Juan 638 598 639 67 547 546 55 516 515Skagit 1021 1007 1019 974 953 904 908 99 931
Skamania 1112 1048 1143 1057 1127 939 1024 1135 991Snohomish 1007 975 1012 984 883 875 893 995 96
Spokane 120 1191 1248 1191 1012 1002 1023 1077 1017Stevens 1433 1468 1354 1367 1275 1137 1233 1082 1307
Thurston 127 1288 1325 1269 1171 1171 1188 1197 1208Wahkiakum 1282 1292 1274 1216 1165 105 997 1055 1021Walla Walla 1304 130 1339 126 1091 1027 1074 1201 1112
Whatcom 941 926 964 92 847 831 831 891 881Whitman 1162 1187 1331 1109 1026 1044 1138 1001 1053Yakima 1211 121 1276 1215 994 985 1017 1087 1033
Statewide 1095 1051 1096 1075 985 1009 1032 1061 984
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Statersquos Housing MarketndashSecond Quarter 2019
31
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
HOUSING AFFORDABILITY INDEX
First-time BuyersState of Washington and CountiesTime Trend
County Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019
Adams 1274 126 128 1168 1072 1025 926 766 1218Asotin 94 992 1067 1009 969 955 964 999 1074Benton 998 1004 999 904 835 819 832 852 833Chelan 77 69 76 767 709 671 692 769 721Clallam 676 693 684 65 582 555 576 652 612Clark 798 805 844 808 756 75 774 797 813
Columbia 1252 1321 1187 107 1095 1039 993 1007 102Cowlitz 845 818 787 71 704 661 668 697 671Douglas 751 712 762 708 612 601 643 66 628
Ferry 1603 1473 1226 1126 952 1059 1028 110 1131Franklin 969 987 997 929 855 853 886 875 853Garfield 936 962 975 875 814 832 802 866 902Grant 1217 117 1174 1353 1155 1204 115 1285 1165
Grays Harbor 1037 1038 928 872 833 826 786 85 818Island 694 677 704 65 573 56 627 655 615
Jefferson 619 582 613 568 519 547 511 545 564King 515 534 548 515 444 484 49 541 508
Kitsap 818 84 873 832 746 749 777 787 766Kittitas 735 773 706 687 627 67 63 643 675Klickitat 857 803 89 843 868 763 78 1045 753
Lewis 1014 932 934 939 863 788 857 80 824Lincoln 2199 2198 188 1908 1312 1722 1302 140 1443Mason 1099 1044 1034 989 927 883 868 958 901
Okanogan 932 788 862 763 815 737 795 1016 808Pacific 1008 1059 988 911 905 919 787 929 838Pend 959 975 891 928 839 741 786 735 86Pierce 793 75 821 768 706 701 736 74 738
San Juan 453 425 454 476 389 388 391 367 366Skagit 725 715 724 692 678 643 646 704 662
Skamania 79 744 812 751 802 668 729 806 704Snohomish 716 693 719 70 628 622 635 707 682
Spokane 853 846 887 846 72 713 728 765 722Stevens 1018 1043 962 972 906 809 877 769 929
Thurston 903 914 941 902 833 833 845 851 858Wahkiakum 911 918 905 865 828 747 709 75 725Walla Walla 926 923 951 896 776 73 764 854 79
Whatcom 669 657 685 654 602 591 591 633 626Whitman 826 843 945 788 73 743 81 712 748Yakima 86 859 906 864 707 701 724 773 734
Statewide 778 746 778 764 70 718 734 754 699
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 familyrsquos ability to pay and the cost Higher indexes indicate housing is more affordableAll loans are assumed to be 30 year loansAll buyer index assumes 20 downpaymentIt is assumed 25 of income can be used for principal and interest payments
Washington Center for Real Estate Research University of Washington
32
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
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- PAGE 9 SEPT PACKET
-
OF HOMES ON MARKET BELOW SPECIFIED PRICE
State of Washington and CountiesEnd of Second Quarter
County $80000 $160000 $250000 $500000
Adams NA 324 622 946Asotin NA NA NA NABenton 13 36 151 797Chelan 14 135 211 592Clallam 07 54 191 686Clark 05 18 52 602
Columbia 31 150 355 838Cowlitz 05 62 180 806Douglas NA 10 61 663
Ferry 132 415 509 887Franklin 13 36 151 797Garfield NA NA NA NAGrant 08 110 330 845
Grays Harbor 49 193 452 853Island NA 16 66 486
Jefferson 20 81 195 550King 00 04 23 228
Kitsap NA 10 39 451Kittitas NA 16 105 498Klickitat NA 19 165 592
Lewis 08 129 323 798Lincoln 147 382 588 912Mason 23 121 309 793
Okanogan 21 143 364 773Pacific 78 238 510 874
Pend Oreille 66 286 461 842Pierce 01 09 50 550
San Juan NA 08 23 227Skagit 23 47 91 575
Skamania NA 289 422 756Snohomish NA 11 47 390
Spokane 05 71 268 788Stevens 66 286 461 842
Thurston 05 21 69 675Wahkiakum NA 118 265 765Walla Walla 31 150 355 838
Whatcom 63 94 124 505Whitman 31 82 224 857Yakima 26 131 379 878
Statewide 10 46 126 520
WCRER Estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
33
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
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- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
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- Slide Number 6
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- Slide Number 9
- Slide Number 10
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- PAGE 9 SEPT PACKET
-
LISTINGS AVAILABLE FOR SALE
State of Washington and CountiesEnd of Second Quarters
County Q2 2012 Q2 2013 Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Change
Adams NA 87 56 46 41 46 38 37 -26Asotin 435 336 355 341 307 244 240 NA -100Benton 1854 1804 1584 1267 1019 886 753 760 09Chelan 541 482 403 259 348 215 215 251 167Clallam 640 628 427 298 320 300 201 274 363Clark 2580 2344 1206 1418 1144 1005 1226 1201 -2
Columbia 547 25 494 416 450 358 317 NA -100Cowlitz 588 454 534 404 271 224 225 206 -84Douglas 201 161 146 120 106 78 115 93 -191
Ferry 75 75 89 67 66 56 51 53 39Franklin 1854 1804 1584 1267 1019 886 753 760 09Garfield 435 336 355 341 307 244 240 NA -100Grant 584 582 524 487 410 332 265 242 -87
GraysHarbor 827 774 802 605 525 418 386 347 -101Island 924 857 780 585 482 439 333 338 15
Jefferson 531 477 427 360 273 272 189 136 -28King 4997 4209 4707 3399 3140 2583 3703 4613 246
Kitsap 1503 1388 1416 46 750 712 563 589 46Kittitas 525 459 505 438 297 227 225 243 8Klickitat 242 249 46 185 160 113 108 103 -46
Lewis 722 723 670 633 403 338 263 248 -57Lincoln NA 51 42 45 31 44 43 34 -209Mason 820 801 780 606 468 355 284 256 -99
Okanogan 437 469 531 465 430 360 319 280 -122Pacific 441 435 434 319 292 238 238 183 -231Pend 551 558 545 467 429 348 260 239 -81Pierce 3481 2976 3775 2905 2285 2171 2015 1860 -77
SanJuan 468 432 452 398 342 260 247 251 16Skagit 903 792 808 593 503 422 410 428 44
Skamania 101 107 17 66 44 38 56 45 -196Snohomish 1985 1747 2438 1913 1474 1316 1513 1693 119
Spokane NA 3098 3290 2768 2304 2131 1646 1587 -36Stevens 551 558 545 467 429 348 260 239 -81
Thurston 1329 1158 1393 1088 969 745 646 543 -159Wahkiakum NA NA NA 44 NA 35 28 34 214WallaWalla 547 543 494 467 450 358 317 NA -100Whatcom 1358 1306 1430 1049 845 712 602 636 56Whitman 216 200 183 98 147 122 101 93 -79Yakima 874 896 873 885 694 555 566 525 -72
Statewide 31827 31683 32656 25550 22219 19056 18707 18421 -15
WCRER Estimates
Washington Center for Real Estate Research University of Washington
34
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
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- Slide Number 6
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- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
MONTHrsquoS SUPPLY OF HOUSING BY PRICE RANGE
State of Washington and CountiesJune 2019
CountyUnder
$80000$80000-$159999
$160000-$249999
$250000-$499999
$500000and above
TotalMarket
Changeby year
Adams NA NA 34 54 NA 32 32Asotin NA NA NA NA NA NA -100Benton 75 18 15 28 86 29 526Chelan 64 32 22 23 NA 35 25Clallam 08 37 21 28 107 34 70Clark 21 16 08 16 52 22 -43
Columbia NA NA NA NA NA NA -100Cowlitz 08 14 08 23 101 21 0Douglas NA NA 09 19 NA 24 0
Ferry 37 95 26 159 NA 8 -208Franklin 75 18 15 28 86 29 526Garfield NA NA NA NA NA NA -100Grant 04 16 19 48 234 35 94
Grays Harbor 2 24 23 49 164 35 -28Island NA NA 09 14 4 21 5
Jefferson 3 34 19 19 48 28 -125King NA NA 15 13 23 21 167
Kitsap NA NA 06 11 35 17 62Kittitas NA NA 27 19 9 35 129Klickitat NA NA 69 55 151 63 -137
Lewis 13 2 16 25 98 25 -107Lincoln 162 32 227 178 NA 92 314Mason 22 26 16 24 57 25 0
Okanogan 24 39 66 92 201 77 -214Pacific 23 33 32 44 91 39 -204
Pend Oreille 36 43 28 58 NA 5 0Pierce 64 12 07 1 37 15 -63
San Juan NA NA NA 59 105 95 203Skagit 65 46 17 19 43 26 0
Skamania NA NA 58 2 73 38 -345Snohomish NA NA 23 12 24 18 -217
Spokane 16 18 16 25 63 25 87Stevens 36 43 28 58 NA 5 0
Thurston NA NA 06 1 38 13 -188Wahkiakum NA NA 23 47 288 51 -239Walla Walla NA NA NA NA NA NA -100
Whatcom 73 44 21 14 43 24 0Whitman 18 24 21 33 62 32 103Yakima 31 3 27 45 NA 38 -5
Statewide 23 21 15 15 28 2 0
WCRER EstimatesReporting issues have prevented the inclusion of Whitman County data As it becomes available the table will be revised and included in updated versions Please refer torealestatewashingtonedu for updates
Washington Statersquos Housing MarketndashSecond Quarter 2019
35
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
MEDIAN HOME PRICES
State of Washington and CountiesAnnual 2012-2019
County 2012 2013 2014 2015 2016 2017 2018 2019
Adams $128300 $132700 $127300 $140800 $145900 $154100 $160600 $196700Asotin $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Benton $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Chelan $220900 $223900 $239700 $269800 $275600 $305100 $337200 $348300Clallam $191500 $193400 $207000 $219300 $250700 $270300 $293000 $296700Clark $197900 $229700 $247600 $263200 $294600 $332800 $359100 $366000
Columbia $145400 $153700 $130000 $166900 $140000 $152700 $162700 $186000Cowlitz $136600 $150500 $162000 $179100 $199900 $225600 $246900 $269100Douglas $202100 $207000 $223000 $238300 $259000 $283000 $318200 $340000
Ferry $95000 $134000 $130000 $127500 $95000 $146700 $164000 $160000Franklin $183300 $186600 $190400 $201200 $222800 $244000 $276700 $297200Garfield $150600 $161800 $160100 $170300 $178000 $197100 $216700 $185000Grant $154900 $156900 $160200 $165400 $182400 $190500 $202300 $212100
GraysHarbor $113000 $118800 $123200 $138800 $151600 $169400 $191600 $206200Island $251200 $255000 $266700 $290400 $316900 $340400 $366000 $375700
Jefferson $239900 $261400 $254500 $276600 $320200 $355200 $371800 $385200King $367700 $420500 $449600 $486100 $566200 $637700 $689900 $683200
Kitsap $237800 $242500 $243500 $260200 $288400 $316600 $346800 $370000Kittitas $194900 $210900 $220100 $243700 $259900 $285300 $336000 $344700Klickitat $188300 $189400 $180000 $204900 $236600 $244100 $270000 $275000
Lewis $142100 $141600 $150500 $158700 $174000 $199200 $227400 $255200Lincoln $82000 $67500 $127500 $80000 $80000 $105000 $115600 $140000Mason $157100 $152300 $158500 $170800 $194100 $213600 $242900 $260900
Okanogan $153200 $159700 $151400 $166500 $182900 $198700 $217800 $200000Pacific $102300 $114000 $125300 $141600 $143500 $165000 $189100 $203800Pend $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600Pierce $194700 $217700 $231900 $251900 $279000 $315700 $347400 $365900
SanJuan $351400 $391500 $419400 $444300 $467100 $516700 $550000 $646900Skagit $209400 $228600 $236500 $281000 $287300 $317000 $349900 $372900
Skamania $178600 $188600 $173700 $217600 $256500 $271600 $292000 $315000Snohomish $261900 $299100 $328700 $719500 $391700 $439300 $482100 $492300
Spokane $170100 $174500 $178400 $192200 $207300 $222600 $246200 $270100Stevens $133400 $119800 $143700 $150400 $156400 $169200 $188000 $202600
Thurston $219100 $224000 $231400 $247000 $266100 $285800 $315800 $334700Wahkiakum $127500 $145000 $75000 $167500 $212500 $226800 $240900 $254200WallaWalla $166500 $180700 $176300 $186700 $212300 $217900 $244900 $257900Whatcom $252400 $261600 $271300 $290400 $311700 $343600 $382300 $398900Whitman $196700 $212900 $201600 $204100 $228700 $241200 $264100 $288300Yakima $161800 $160100 $160600 $166800 $189000 $204200 $226600 $239300
Statewide $236600 $253800 $267600 $289100 $315900 $348900 $362100 $396600
WCRER Estimates
Washington Center for Real Estate Research University of Washington
36
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
TOTAL BUILDING PERMITS
State of Washington and CountiesAnnual 2010-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 24 29 54 50 86 31 31 47 516Asotin 27 16 19 23 35 31 32 34 34 00Benton 1259 1127 1094 930 942 1124 1357 1111 1285 157Chelan 206 154 207 577 304 365 393 442 590 335Clallam 169 154 168 122 160 216 247 307 336 94Clark 1070 961 1558 2942 2240 3283 3310 3787 3598 -50
Columbia 4 4 2 7 7 10 2 4 4 00Cowlitz 131 113 132 195 178 173 308 484 318 -343Douglas 114 92 92 129 156 162 181 187 217 160
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 763 570 531 375 322 510 530 698 616 -117Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 228 187 275 279 264 457 650 445 451 13
GraysHarbor 166 114 125 122 142 178 207 251 463 845Island 219 164 178 221 252 281 373 408 391 -42
Jefferson 97 86 83 101 121 177 238 172 143 -169King 6020 6143 11614 12277 14703 15226 17699 18641 18460 -10
Kitsap 623 540 804 913 598 1066 1059 1094 1149 50Kittitas 183 174 195 344 283 288 323 531 629 185Klickitat 77 58 78 94 83 120 123 115 127 104
Lewis 204 93 121 95 164 129 232 234 275 175Lincoln 43 32 27 45 30 33 50 43 58 349Mason 140 134 121 135 108 111 166 212 276 302
Okanogan 123 130 103 134 165 165 133 144 153 62Pacific 125 111 130 139 63 62 77 85 131 541Pend 52 48 36 37 42 47 59 41 48 171Pierce 1900 2566 2479 2892 3777 3046 3865 4968 5449 97
SanJuan 189 105 92 109 109 100 124 115 156 357Skagit 207 179 229 283 274 424 505 663 585 -118
Skamania 25 34 23 26 34 47 38 58 63 86Snohomish 2120 2521 3573 4348 3473 2594 3925 3725 4277 148
Spokane 1609 1785 1353 1634 1839 1978 3596 3460 2926 -154Stevens 72 54 71 84 79 74 109 140 200 429
Thurston 1156 1028 1012 1289 1003 931 2081 1067 1750 640Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 128 202 150 241 207 188 218 144 221 535Whatcom 458 605 637 999 1007 911 1183 1256 1464 166Whitman 90 93 283 380 218 141 194 242 264 91Yakima 624 438 471 358 442 392 422 434 578 332
Statewide 20691 20864 28118 32966 33898 35157 44077 45794 47746 43
US Department of Commerce
Washington Statersquos Housing MarketndashSecond Quarter 2019
37
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
SINGLE-FAMILY BUILDING PERMITS
State of Washington and CountiesAnnual 2009-2018
County 2010 2011 2012 2013 2014 2015 2016 2017 2018 Change
by year
Adams 33 22 26 44 46 75 28 23 47 1043Asotin 27 16 19 21 33 31 30 34 30 -118Benton 937 781 897 840 798 825 952 848 942 111Chelan 204 154 205 259 286 358 385 414 420 14Clallam 139 114 168 122 160 215 243 287 320 115Clark 963 688 1190 1699 1588 2220 2645 2080 2793 343
Columbia 4 2 2 7 7 10 2 4 4 00Cowlitz 116 113 132 155 160 168 273 464 294 -366Douglas 109 92 92 127 147 132 158 185 206 114
Ferry 22 13 15 20 10 16 21 0 1 InfFranklin 636 558 374 245 280 396 496 609 616 11Garfield 4 2 3 1 3 NA 1 1 2 1000Grant 205 171 251 236 230 228 264 350 383 94
GraysHarbor 163 104 125 122 140 174 207 251 455 813Island 219 164 176 221 252 281 369 401 375 -65
Jefferson 97 80 83 101 121 154 234 172 143 -169King 2578 2765 3864 4419 4215 4010 4254 4356 4442 20
Kitsap 468 451 634 674 519 796 862 952 903 -51Kittitas 177 169 180 285 265 285 304 364 435 195Klickitat 77 54 78 88 78 120 105 99 119 202
Lewis 124 82 97 95 129 129 156 218 271 243Lincoln 41 30 27 45 30 33 50 43 58 349Mason 140 134 121 120 108 111 166 208 266 279
Okanogan 123 120 103 98 160 164 133 138 149 80Pacific 125 111 130 139 63 62 77 85 94 106Pend 52 48 36 37 42 47 59 41 48 171Pierce 1708 1494 2009 2369 2371 2253 2469 3014 2491 -174
SanJuan 189 105 92 109 109 100 118 112 152 357Skagit 203 179 227 283 262 410 420 534 542 15
Skamania 25 34 23 26 24 47 38 58 61 52Snohomish 1853 1819 2174 1985 2079 2383 2702 2627 2201 -162
Spokane 939 740 963 1299 1014 1340 1661 1608 1696 55Stevens 66 52 67 66 79 74 99 136 200 471
Thurston 1053 858 959 929 934 881 1084 950 912 -40Wahkiakum 11 10 5 12 11 15 15 20 11 -450WallaWalla 66 80 102 134 183 184 182 144 221 535Whatcom 401 419 488 568 542 599 718 793 767 -33Whitman 62 33 70 100 75 81 78 80 126 575Yakima 343 298 301 300 352 390 405 412 480 165
Statewide 14702 13159 16508 18400 17905 19797 22463 23115 23676 24
US Department of Commerce
Washington Center for Real Estate Research University of Washington
38
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
TOTAL HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 6325 6375 6461 6492 6523 6570 07Asotin 9842 9877 9908 9940 9974 10008 03Benton 70356 71298 72422 73779 74890 76175 17Chelan 35593 35897 36262 36655 37097 37687 16Clallam 35894 36054 36270 36517 36824 37160 09Clark 169575 171815 175098 178408 182195 185793 20
Columbia 2133 2140 2150 2152 2156 2160 02Cowlitz 43537 43715 43888 44196 44680 44998 07Douglas 15855 16011 16173 16354 16541 16758 13
Ferry 4116 4126 4142 4163 4163 4164 00Franklin 26378 26700 27210 27740 28438 29054 22Garfield 1348 1351 1351 1352 1353 1355 01Grant 34525 34789 35246 35896 36341 36792 12
GraysHarbor 36280 36422 36600 36807 37058 37521 12Island 38741 38993 39274 39647 40055 40446 10
Jefferson 17013 17134 17311 17549 17721 17864 08King 886184 900887 916113 933812 952453 970913 19
Kitsap 107112 107710 108776 109835 110929 112078 10Kittitas 21346 21629 21917 22240 22771 23400 28Klickitat 10008 10091 10211 10334 10449 10576 12
Lewis 33499 33663 33792 34024 34258 34533 08Lincoln 5845 5875 5908 5958 6001 6059 10Mason 30222 30330 30441 30607 30819 31095 09
Okanogan 21498 21663 21828 21961 22105 22258 07Pacific 15583 15646 15708 15785 15870 16001 08Pend 7649 7691 7738 7797 7838 7886 06Pierce 335153 338930 341976 345841 350809 356258 16
SanJuan 12169 12278 12378 12502 12617 12773 12Skagit 51010 51284 51708 52213 52876 53461 11
Skamania 5379 5413 5460 5498 5556 5619 11Snohomish 297541 301014 303608 307533 311258 315535 14
Spokane 209046 210885 212863 216459 219919 222845 13Stevens 19504 19583 19657 19766 19906 20106 10
Thurston 110747 111750 112681 114762 115829 117579 15Wahkiakum 2088 2099 2114 2129 2149 2160 05WallaWalla 24015 24222 24410 24628 24772 24993 09Whatcom 91999 93006 93917 95100 96356 97820 15Whitman 19905 20123 20264 20458 20700 20964 13Yakima 87925 88367 88759 89181 89615 90193 06
Statewide 2952938 2986836 3021993 3066070 3111864 3159610 15
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
39
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
SINGLE-FAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 4125 4171 4246 4274 4297 4344 11Asotin 7074 7107 7138 7168 7202 7232 04Benton 47447 48245 49070 50022 50870 51812 19Chelan 25398 25684 26042 26427 26841 27261 16Clallam 26267 26427 26642 26885 27172 27492 12Clark 123546 125134 127354 129999 132079 134872 21
Columbia 1672 1679 1689 1691 1695 1699 02Cowlitz 30653 30813 30981 31254 31718 32012 09Douglas 10826 10973 11105 11263 11448 11654 18
Ferry 2949 2959 2975 2996 2996 2997 00Franklin 18328 18608 19004 19500 20109 20725 31Garfield 1030 1033 1033 1034 1035 1037 02Grant 20888 21118 21346 21610 21960 22343 17
GraysHarbor 26104 26244 26418 26625 26876 27331 17Island 30935 31187 31468 31837 32238 32613 12
Jefferson 13211 13332 13486 13720 13892 14035 10King 511127 515342 519352 523606 527962 532404 08
Kitsap 77809 78328 79124 79986 80938 81841 11Kittitas 14662 14927 15212 15516 15880 16315 27Klickitat 7002 7080 7200 7305 7404 7523 16
Lewis 23620 23749 23878 24034 24252 24523 11Lincoln 4436 4466 4499 4549 4592 4650 13Mason 22545 22653 22764 22930 23138 23404 11
Okanogan 15424 15584 15748 15881 16019 16168 09Pacific 11038 11101 11163 11240 11325 11419 08Pend 5724 5766 5813 5872 5913 5961 08Pierce 231291 233662 235915 238384 241398 243889 10
SanJuan 10372 10481 10581 10699 10811 10963 14Skagit 37920 38182 38592 39012 39546 40088 14
Skamania 3903 3927 3974 4012 4070 4131 15Snohomish 200267 202346 204729 207431 210058 212259 10
Spokane 142997 144011 145351 147012 148620 150316 11Stevens 14350 14429 14503 14602 14738 14938 14
Thurston 78360 79294 80175 81259 82209 83121 11Wahkiakum 1545 1556 1571 1586 1606 1617 07WallaWalla 16738 16921 17105 17287 17431 17652 13Whatcom 59823 60365 60964 61682 62475 63242 12Whitman 9998 10073 10154 10232 10312 10438 12Yakima 60147 60499 60889 61294 61706 62186 08
Statewide 1951551 1969456 1989253 2011716 2034831 2058507 12
WCRER estimates
Washington Center for Real Estate Research University of Washington
40
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
MULTIFAMILY HOUSING INVENTORY
State of Washington and CountiesAnnual 2013-2018
County 2013 2014 2015 2016 2017 2018 Change
by year
Adams 2200 2204 2215 2218 2226 2226 00Asotin 2768 2770 2770 2772 2772 2776 01Benton 22909 23053 23352 23757 24020 24363 14Chelan 10195 10213 10220 10228 10256 10426 17Clallam 9627 9627 9628 9632 9652 9668 02Clark 46029 46681 47744 48409 50116 50921 16
Columbia 461 461 461 461 461 461 00Cowlitz 12884 12902 12907 12942 12962 12986 02Douglas 5029 5038 5068 5091 5093 5104 02
Ferry 1167 1167 1167 1167 1167 1167 00Franklin 8050 8092 8206 8240 8329 8329 00Garfield 318 318 318 318 318 318 00Grant 13637 13671 13900 14286 14381 14449 05
GraysHarbor 10176 10178 10182 10182 10182 10190 01Island 7806 7806 7806 7810 7817 7833 02
Jefferson 3802 3802 3825 3829 3829 3829 00King 375057 385545 396761 410206 424491 438509 33
Kitsap 29303 29382 29652 29849 29991 30237 08Kittitas 6684 6702 6705 6724 6891 7085 28Klickitat 3006 3011 3011 3029 3045 3053 03
Lewis 9879 9914 9914 9990 10006 10010 00Lincoln 1409 1409 1409 1409 1409 1409 00Mason 7677 7677 7677 7677 7681 7691 01
Okanogan 6074 6079 6080 6080 6086 6090 01Pacific 4545 4545 4545 4545 4545 4582 08Pend 1925 1925 1925 1925 1925 1925 00Pierce 103862 105268 106061 107457 109411 112369 27
SanJuan 1797 1797 1797 1803 1806 1810 02Skagit 13090 13102 13116 13201 13330 13373 03
Skamania 1476 1486 1486 1486 1486 1488 01Snohomish 97274 98668 98879 100102 101200 103276 21
Spokane 66049 66874 67512 69447 71299 72529 17Stevens 5154 5154 5154 5164 5168 5168 00
Thurston 32387 32456 32506 33503 33620 34458 25Wahkiakum 543 543 543 543 543 543 00WallaWalla 7277 7301 7305 7341 7341 7341 00Whatcom 32176 32641 32953 33418 33881 34578 21Whitman 9907 10050 10110 10226 10388 10526 13Yakima 27778 27868 27870 27887 27909 28007 04
Statewide 1001387 1017380 1032740 1054354 1077033 1101103 22
WCRER estimates
Washington Statersquos Housing MarketndashSecond Quarter 2019
41
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
Washington Center for Real Estate ResearchRunstad Department of Real EstateCollege of Built Environments424 Gould Hall Box 355740Seattle WA 98195-5740
42
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
May-19 Jun-19 Jul-19
Active Brokers 32574 32719 32842Active Managing Brokers 8484 8502 8498Inactive Brokers 7462 7633 7535Inactive Managing Brokers 1137 1128 1137
Active amp Inactive Brokers and Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
43
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
706 708677
10887
114
408 404 415
37 46 47
0
100
200
300
400
500
600
700
800
May-19 Jun-19 Jul-19
First License amp Exam Candidates
Exam Candidates Tested Broker
Exam Candidates Tested ManagingBroker
1st License Issued Broker
1st License Issued Managing Broker
44
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
0
5000
10000
15000
20000
25000
30000
35000
MAY-19 JUN-19 JUL-19
32574 32719 32842
8484 8502 84987462 7633 7535
1137 1128 1137
Active amp Inactive Brokers amp Managing Brokers
Active Brokers Active Managing Brokers Inactive Brokers Inactive Managing Brokers
45
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
445
450
462
MAY-19 JUN-19 JUL-19
FIRST LICENSE TRENDMAY - JULY
2019
46
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
4034
4034
4018
433
439
438
0 500 1000 1500 2000 2500 3000 3500 4000 4500
May-19
Jun-19
Jul-19
ACTIVE FIRMS amp BRANCHES
Active Branches Active Firms
47
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
13 126
25
42
34
50
41
66
97
83
100
12 11 13
0
20
40
60
80
100
120
May-19 Jun-19 Jul-19
EducationMay - July
2019
Schools
Instructors
Courses
Continuing Education Audits
Continuing Education Audits withProblems
48
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
25
18 24
72
6
15
37
26
0
5
10
15
20
25
30
35
40
May-19 Jun-19 Jul-19
InvestigationsMay - July
2019
Cases Received from Intake Cases Sent to Compliance Cases ClosedNo Formal Disciplinary Action
49
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
88
70 64
44
25 3031 31 25
143131
120
0
20
40
60
80
100
120
140
160
May-19 Jun-19 Jul-19
RegulatoryMay - July
2019
Total of Complaints Received
Total of Complaints Closed
Total of Complaints to Investigation
Total of FirmAssumed Name Reviews
50
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
0
20
40
60
80
100
120
Late EMDeposits
Missing EMReceipts
RecordKeeping
PampS
TrustAccountOut of
Balance
RecordKeeping
PM
NoViolations
New FirmAudits
TotalAudits
TrustAccountsAudited
EM TrustAccounts
AuditsMay - July
2019
May-19 Jun-19 Jul-19
51
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
0 0
2
0
2 2
1 1
3
0
05
1
15
2
25
3
35
May-19 Jun-19 Jul-19
ComplianceMay - July
2019
Statement of Charges Final Orders Agreed Orders
52
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-
Real Estate Committee Assignments Kyoko Wright (Vice Chair July 2019-June 2020)
Changing Business Practices Subcommittee
Kyoko Wright (Chair Education Subcommittee) Term expires 2021 Shari Song Term expires 2023 Vacant Term expires 2025
Education Subcommittee Jeff Thompson (Chair Education Subcommittee) Term expires 2020 Sabrina Jones-Schroeder Term expires 2024 Jess Salazar Term expires 2022
Next Commission Meeting December 4th ndash SeaTac
The Radisson San Juan Rooms 2-3
18118 International Blvd Seattle WA 98188
53
- PAGE 1 SEPT PACKTE
- PAGE 2 SEPT PACKET
-
- DATE PLACE
- ORDER OF AGENDA OPEN SESSION
-
- PAGE 3 SEPT PACKET
- PAGE 4 SEPT PACKET
-
- Real Estate Education ndash 04F
- Real Estate Research ndash 06R
- Real Estate Commission - 026
-
- PAGE 5 SEPT PACKET
-
- Coming soon A new way to manage Real Estate licenses online
- Whatrsquos changing for our Real Estate license holders
- Letrsquos keep in touch
-
- PAGE 6 SEPT PACKET
- PAGE 7 SEPT PACKET
- PAGE 8 SEPT PACKET
-
- Slide Number 1
- Slide Number 2
- Slide Number 3
- Slide Number 4
- Slide Number 5
- Slide Number 6
- Slide Number 7
- Slide Number 8
- Slide Number 9
- Slide Number 10
-
- PAGE 9 SEPT PACKET
-