Home Resales Down: Existing single-family home sales...
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From Times staff and Wire reports
Home Resales Down: Existing single-family home sales in California plunged 11.6% in the third quarter amid a weakening national economy and growing fears of a recession, the California Assn. of Realtors reported. It said the pace of sales in the state, once the hottest housing market in the country, was the slowest since the second quarter of 1985. Nationally, home resales slipped 2.5% from the year-ago period to a seasonally adjusted annual rate of 3.66 million units.
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