Homeownership
Back to News Center Of the top 50 housing markets in the U.S. only three (all in the Midwest) are considered affordable for median earners, according to Realtor.com. In its analysis, the listings website used the industry threshold that no more 30% of a household’s income is spent on buying…
Read More
Back to News Center The dream of homeownership is a powerful motivator for both Gen Z and Millennials, new research shows. Even though they face financial hurdles, these would-be buyers prioritize the long-term financial security a home can provide. Despite uncertainty among prospective homebuyers and current owners, more than half…
Read More
Back to News Center House Bill 1220 requires cities to plan to accommodate housing that is affordable to households that typically need government subsidies to obtain housing. It allows cities to collect a small sales tax to help fund those efforts. Recently, state law was amended to provide cities with…
Read More Back to News Center Advocating strongly for policies that increase housing supply and housing affordability-especially for middle-income buyers in the King County Comprehensive Plan update-REALTORS® proposed a lot-splitting comprehensive plan amendment in targeted jurisdictions. The amendment would allow for the development of detached single-family residences and middle housing types through…
Read More Back to News Center REALTORS® have long supported, and been active and successful advocates for, local action to increase the number of housing units, both here in King County and statewide. Those efforts to increase housing supply have included new financial incentives, and wide-ranging policies to increase middle housing, accessory…
Read More
Back to News Center Homeowners can get a free, Personal Electrification Planner to help save money, improve home comfort, and make a positive climate impact. Offered by Rewiring America, it promises an “easy-to-use home-electrification planning tool” that will generate a customized plan in less than five minutes. The planner will…
Read More
Back to News Center On July 1, Washington state launched a new program and funding source called the Covenant Homeownership Program. Created by the state legislature in 2023 through the Covenant Homeownership Act (HB 1474), the landmark legislation helps low-income homebuyers statewide whose families have been harmed by racial discrimination…
Read More
Back to News Center June is when REALTORS® commemorate National Homeownership Month. The goal of the observance is to raise awareness about the benefits of owning a home and the importance of making homeownership more attainable for all Americans. REALTOR® members serve as trusted advisors, helping consumers navigate the home…
Read More
Back to News Center This year, counties and cities throughout the state are required to update their comprehensive plans. For housing issues, comprehensive plans set the policies upon which zoning and development regulations are established. Seattle King County REALTORS® (SKCR) is advocating strongly for policies that increase housing supply and…
Read More
Back to News Center For many would-be homeowners, a recent report has some daunting numbers. Potential purchasers of homes in the Seattle area need to earn $215,000 a year to afford a typical home. That’s up 18% from a year ago and about $100,000 more than the U.S. average, according…
Read More