"President Donald Trump recently put pressure on homebuilders to increase construction nationwide, given the issues with construction in the country. In a post on his Truth Social platform in early October, he accused major builders of hoarding lots to prop up prices-likening them to OPEC, which restricts oil output to maintain high prices. "They're my friends ... but now, they can get Financing, and they have to start building Homes. They're sitting on 2 Million empty lots, A RECORD," Trump wrote. He urged Fannie Mae and Freddie Mac to intervene and "get Big Homebuilders going" to "restore the American Dream.""
"Realtor.com's analysis gave Washington a total score of 44.7, placing it among the lowest-ranked states nationwide. The state's median listing price reached $636,445 in 2024, while the median household income was $93,297. The Realtors Affordability Score came in at just 0.48, showing that fewer than half of listings are within reach for median-income households. In terms of building activity, Washington accounted for 2.6% of national housing permits in 2024, compared with its 2.3% share of the U.S. population. That results in a permit-to-population ratio of 0.96, signaling that builders are barely keeping up with demand. The new construction premium-the difference between new and existing home prices-was 18.3%, showing that new homes remain significantly more expensive than older inventory."
Washington's housing market faces acute affordability challenges and persistent underbuilding amid a booming economy. Realtor.com assigned the state a C- and a total score of 44.7. The median listing price reached $636,445 in 2024 while median household income was $93,297, producing a Realtors Affordability Score of 0.48 and indicating fewer than half of listings are within reach of median-income households. Washington accounted for 2.6% of national housing permits in 2024 versus a 2.3% population share, yielding a permit-to-population ratio of 0.96 and suggesting builders are barely keeping up. The new construction premium was 18.3%, making new homes substantially more expensive.
Read at SFGATE
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