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

According to the Washington Center for Real Estate Research 2008 fourth Quarter Housing Analysis; Snohomish County home re-sales were down -20.1% from the previous quarter, and down          -41.3% 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 Snohomish County are down -50.5% from the fourth quarter of the previous year, in comparison to the -53.4% reduction statewide.  The median re-sale home price in Snohomish County is $325,000, (down -10.6% from the fourth quarter in 2007), above the statewide median of $266,700 (down -9.3% from the fourth quarter in 2007).  The 2008 fourth quarter Housing Affordability Index (HAI) was 97.1 for Snohomish County, lower than the statewide index of 107.5