Our event keynote speaker, Dr. James Young with the Washington Center for Real Estate Research, presented valuable information on real estate trends affecting REALTORS® and consumers alike. The statistics and data he presented highlighted the extreme difficulty for first-time buyers to find affordable housing and for “empty nesters” to trade down, creating a ripple effect in the housing market. Dr. Young also points out that the most efficient means of providing opportunities for first-time home buyers (affordable condominium development) has not taken place in this market due to supply constraints. These supply constraints are having a significant impact on the overall housing market which is why Washington REALTORS® have identified several legislative priorities to address them.
Over the course of over 140 different scheduled meetings with legislators on Thursday, January 24, 2019, REALTORS® received encouraging and positive response to the following Legislative Priorities:
- Reforming Condominium Liability Laws
- Increasing Urban & Suburban Housing Supply in Urban Growth Areas
- Aligning the Short Subdivision Process with Ecology’s SEPA Regulations
- Supporting the Housing Trust Fund for Homeownership
- State Funding Support for Housing, Homelessness & Infrastructure
- Expanding the Multi-family Tax Exemption Program
- REET & Lodging tax—Local Funding Tools for Housing & Homelessness
- Read more details about Washington REALTORS®’ Legislative Priorities.
Thank you to all of the REALTORS®, affiliates, and industry professionals who showed up to make Washington REALTORS® Legislative Day a success. Stay tuned throughout the Legislative Session for updates and news!