Last year at this time November recorded 568 sales. Obviously this year is significantly different with only 241 sales! Snohomish county has just over 7 months of inventory, and that includes pending sales in the calculation. I do see this trend continuing into December and January. The beginning of 2009 could bring a change with the low interest rates, government bailouts taking affect, and inventory up. I believe the key factor will be the availability of loans to the everyday buyer. 

Interest rates have dropped to 5.50% with no points.