California new-home sales tumble 45% in August 

California new-home sales dropped 44.7 percent in August compared to the same month last year and the median new-home price dropped 7.6 percent statewide, the California Building Industry Association reported this week.

In Southern California, sales of new and previously owned homes dropped 48.5 percent and the median price dropped 4 percent in September compared to September 2006, according to a separate report by real estate research company DataQuick Information Systems.

And sales of new and re

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