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Home Prices Softened as Sales Remained Solid at the Start of 2010 |
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After 21 months of consecutive year-over-year gains, the California housing market experienced its first sales decline since March 2008 when sales fell 24.4 percent. The seasonally adjusted annualized sales of existing single-family homes decreased 10.6 percent to 539,040 in January from 602,660 (revised) in the same month of last year. Sales dropped by 3.0 percent on a month-to-month basis when compared to December 2009.
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