WCRER Housing Analysis/ 2008 4th Quarter/ Skagit County WA

According to the Washington Center for Real Estate Research 2008 Fourth Quarter Housing Analysis; Skagit County home re-sales were down -24.2% from the previous quarter, and down -46.8% from the fourth quarter in 2007.  Statewide home re-sales were down -15.8% from the previous quarter and down  -29.1% from the fourth quarter in 2007.  Overall building permits in Skagit County are down -60.6% from the fourth quarter of the previous year, in comparison to the -53.4% reduction statewide.  The median re-sale home price in Skagit County is down to $263,700, (down -2.0% from the fourth quarter in 2007), below the statewide median of $266,700 (down -9.3% from the fourth quarter in 2007).  The 2008 fourth quarter Housing Affordability Index (HAI) was 96.9 for Skagit County, slightly lower than the statewide index of 107.5