Will increased density through HB-1110 actually lower WA home prices?

State lawmakers earlier this month passed landmark legislation intended to address the housing crisis, by bringing a little more housing density to single family neighborhoods.

But the idea of more housing in your neighborhood actually bringing prices down might not jive with what you see happening on your street. The price of a brand-new house, condo, or townhome is sky-high, even with our recently cooling housing market.

So you may wonder: Does all this density really shrink housing costs?

We continue our coverage of HB-1110 with KUOW’s housing reporter Joshua McNichols.

"Yes, density pushes housing costs down," McNichols explains. "At least for the developer. It brings down the cost to build a house, but it doesn't necessarily make those homes more affordable."

RELATED: Do townhomes drive down housing costs? Social science has an answer

For prices to buy or rent a home to come down, we'll need to have more homes than we have buyers. And there needs to be enough supply for a long enough time that people actually see these benefits.

McNichols talked to Wescott Homes president Kerek Edwards to find out about how different it is to build a single family home on a lot, versus a set of townhomes on a similarly sized lot.

He also talked with UCLA Associate Professor Mike Lens about the social science behind housing markets and policy.

Let us know your thoughts on the tug-of-war between housing prices & demands at soundside@kuow.org.