Requires that every contract for the construction or sale of a new home includes, as a matter of law, a warranty from the residential builder that shall warrant at a minimum that: (1) For two years, beginning on the warranty date, the new home is free from any defects in materials and workmanship;

(2) For three years, beginning on the warranty date, the new home is free from any defects in the electrical, plumbing, heating, cooling, and ventilating systems, except that in the case of appliances, fixtures, and items of equipment, the warranty need not exceed the length and scope of the warranty offered by the manufacturer, and the warranty of merchantability, fitness, and all other implied warranties with respect to appliances, fixtures, and items of equipment shall be governed by the Washington uniform commercial code;

(3) For five years, beginning on the warranty date, the new home is free from any defects resulting from water penetration; and

(4) For ten years, beginning on the warranty date, the new home is free from any structural defects.