WCRER Housing Analysis/ 2009 1st Quarter/ Snohomish County WA

According to the Washington Center for Real Estate Research 2009 First Quarter Housing Analysis; Snohomish County home re-sales were down -2.3% from the previous quarter, and down -37.0% from the first quarter in 2008.  Statewide home re-sales were down -8.6% from the previous quarter and down -30.6% from the first quarter in 2008.  Overall building permits in Snohomish County are down -39.3% from the first quarter of the previous year, in comparison to the -53.3% reduction statewide.  The median re-sale home price in Snohomish County is down to $311,800 (down -11.6% from the first quarter in 2008), above the statewide median of $253,500 (down -13.7% from the first quarter of 2008).  The 2009 first quarter Housing Affordability Index (HAI) was 112.4 for Snohomish County, lower than the statewide index of 125.5