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by CareyBot

Sales of resale homes in California jumped 56.7 percent year-over-year in August while the median price slipped 40.5 percent, the California Association of Realtors reported today. Nationally, resale home sales and prices dropped about 10 percent year-over-year in August, the National Association of Realtors reported. "Although the month-to-month decline in the median price was the smallest in a year, it's still premature to say that the median price has begun to stabilize," said Leslie Appleton-Young, chief economist for the California association, in a statement. "While sales appear to have turned the corner, the median will experience additional downward pressure as we move into the off-peak season in the coming months, and will continue to face pressure from d...