This year will be pivotal for Spokane County's housing future. All municipalities within Spokane County will collaborate to assemble housing need projections for the next decade under the state's Growth Management Act.

Concurrently, Spokane Realtors is actively tackling the housing shortage by forming the Spokane Housing Coalition, which includes partners such as Spokane Home Builders and Greenstone Homes.

The GMA comprises a series of statutes guiding comprehensive development plans for cities and counties in Washington state. Enacted in 1990, the GMA was established to counter the threat of unplanned growth to the state's environment, economy, and quality of life. The Legislature determined that uncoordinated and unplanned growth, coupled with a lack of common goals for land use, posed significant risks to the environment, sustainable economic development, and the overall well-being of Washington's residents.

The GMA mandates cities and counties with populations exceeding 50,000, or those experiencing growth rates above state guidelines, to engage in comprehensive land-use planning. For Spokane County, a critical aspect of the GMA will be determining the availability of buildable land.

The significance of the GMA for Spokane County is underscored by a recent study from the National Association of Realtors, which identified Spokane as the second-worst market in the country in terms of supply versus demand. This study confirms that the greater Spokane area is facing an unprecedented shortage of homes and a pressing need for more housing at all levels. Our estimates indicate that we are 25% underbuilt.

Over the past decade, restrictive policies have steered new construction away from the city of Spokane. Consequently, while 84% of newly constructed homes in the Spokane-Coeur d’Alene markets were within the city in 2013, this figure plummeted to just 7% in 2023.

This supply shortage has driven housing prices to record levels, making homeownership less affordable and resulting in double-digit rent increases. Housing prices have doubled in recent years. At the end of 2024, the median home price was $420,000—an 80% increase from the median price of $235,000 in 2018.

This surge in prices presents another significant challenge: The average salary needed to afford a $420,000 home is $120,000, which far exceeds the average salary in Spokane County. Consequently, 80% of Spokane families cannot afford the average home.

Spokane Realtors is committed to mitigating the housing shortage. Every year, local Realtors attend the Washington legislative session, in Olympia, in January. The 2023-2024 biennium was crucial for pro-housing bills, and 2025 will see us continue our efforts to realize the dream of homeownership for many. This two-day event in January provides direct access to Washington lawmakers and the opportunity to advocate for our industry.

Following this, the Realtors Legislative meetings in May bring thousands of Realtor members from across the country to Washington, D.C., to conduct additional advocacy work. These meetings have established us as a respected voice in real estate, protecting property ownership and advancing commercial and residential markets.

In 2024, several Spokane Realtors met with outgoing Congresswoman Cathy McMorris-Rogers to lobby on critical policies, including federal lending guidelines on Veterans Affairs-backed loans that were detrimental to VA buyers.

Finally, Spokane Realtors played a pivotal role in establishing the Spokane Housing Coalition. This coalition unites local housing providers to generate research and advocacy for creating more housing opportunities promptly. For instance, Spokane’s current growth-management area includes land that isn’t buildable. Spokane Realtors and the coalition are working to ascertain how much land is genuinely available for building within the growth-management area.

The coalition also is preparing to launch a survey to understand Spokane’s housing preferences better. This survey will guide coalition partners—Spokane Home Builders, Family Promise, Greenstone Corp., Spokane Low Income Housing Consortium, Downtown Spokane Partnership, Greater Spokane Incorporated, Rental Housing Association of Washington, Thrive Spokane, Greater Spokane Valley Chamber, Spokane Business Association, and Spokane Association for Mortgage Professionals—in serving Spokane residents more effectively.

As we navigate this critical juncture in Spokane County's growth, the collaboration between our Realtor members and the Spokane Housing Coalition stands as a beacon of hope. Together, we aren’t merely addressing a housing shortage but are forging a path toward a sustainable and inclusive future.

By leveraging our collective expertise and commitment, we aim to transform the landscape of housing opportunities in Spokane. With strategic planning, innovative solutions, and a shared vision, we are determined to make homeownership an attainable dream for all, ensuring that Spokane remains a vibrant and thriving community for generations to come.

Karene Loman is a Realtor at Soar Homes and president of the 2,500 member Spokane Realtors association. She can be reached at 509.990.2525 or at [email protected].