Real estate sales drop 24% in California 

California existing-home sales plummeted 24.1 percent in January compared to January 2005, the California Association of Realtors trade group reported today, while the median price of an existing home increased 13.8 percent.

Closed escrow sales of existing, single-family detached homes in California totaled 500,470 in January at a seasonally adjusted annualized rate, according to information collected by C.A.R.

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