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Why is Spokane’s Housing Crisis Not a Priority to City Council? Housing inventory in Spokane is at an all-time low. Home prices have increased 21% in Spokane County from April 2020 to April 2021. Energy codes that went into effect February 1Â of this year added $20,000-$30,000 to the cost of a home. Lumber prices add an additional $36,500 on average and land prices have roughly doubled in the last two years. Rising costs are not the only issue. According to a study by ECONorthwest and commissioned by the nonprofit Up for Growth, Spokane County as a whole was underbuilt by…
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Elections have consequences and families in Moses Lake are feeling the brunt of it. MOSES LAKE, Washington – Senator Judy Warnick met with members of the Grant County Home Builders Association last week to debrief on the 2021 legislative session. Sadly, many of the bills that were passed will have significant financial fallout for the most vulnerable in our community. Numerous bills this year advanced political agendas while the repercussions of newly passed house bills seem to have somehow missed protecting the paychecks and purchasing power of financially susceptible renters and first-time home buyers. Energy codes passed in 2018 by the Washington State Building Codes…
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When we look at home costs we focus on land, labor and lumber. Right now, all are in short supply causing a dramatically higher home price. With home prices in Spokane up 21% from this time last year, supply and demand is not the full story. We are in a housing crisis, no doubt. In a healthy housing market, a city should have between six and eight months of existing inventory-we have 11 days. And we wonder why prices are high. A large contributor is the sky-high costs of lumber. In April of 2020, lumber was $259 per one-thousand feet,…
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SPOKANE, Washington – With housing prices already squeezing many buyers out of the market, Washington State’s energy codes will shut the door on more buyers with ‘misguided energy ideologies’. Energy efficiency and carbon neutralization are important objectives that the whole community can get behind, builders and buyers alike. However, the recent energy codes enacted on February 1st of this year have resulted in over 75,000 homebuyers statewide being priced out of the market, according to recent data released by the National Association of Home Builders. This carbon emission enforcement comes amidst a record housing shortage and skyrocketing home prices in…
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