Over the previous several years, Snohomish County has experienced monumental growth within the new construction housing market dating back to mid 2013. To prologue this article, lets go back in time to 2007 when home values were plummeting and housing inventory was skyrocketing.
During the 2007 Recession local builders and developers all but stopped and the new construction housing market came to a standstill with banks no longer lending for big projects. During that time it wasn't such a big deal to have very little new homes to sell since resale inventory was more than abundant.
The abundance of new homes in Snohomish County that once bolstered housing inventory from a complete crisis might be showing signs of change.
In the graph below it can be seen that in 2013 new homes experienced an steep increase with availability from approximately 3 homes to 413 homes in 2015. From 2015 to approximately Aug 2020 new construction homes made up a good portion of homes sold within Snohomish County - a quick drive through Bothell, Lynnwood, Marysville, and Stanwood would easily tell that story.
However, since August 2020 there be decline in available new construction homes with less new neighborhoods being built.
Now lets look at new construction graphs for most of Snohomish County's cities.View More