More pain in May for California home starts, sales 

The rate of single-family existing-home sales in California fell 25 percent in May compared to sales for that month last year, while building permits issued for single-family homes declined 40.1 percent, state Realtor and builder trade groups reported this week.

The California Association of Realtors reported a seasonally adjusted annualized rate of 366,370 closed escrow sales of existing single-family detached homes in May, compared to a record sales rate of 488,260 in May 2006.

This sales rate is a projectio

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