In total, 39,200 resale and new condominiums and homes were sold across the state for the month. This figure is down a total of 23.4% from 2005. This information is being reported by DataQuick Information Systems. 1998 was the last year when home sales were this low. In 1998, 37,929 homes were sold.
DataQuick Information systems sites falling home prices as the main factor. 8 out of the 15 most populated counties in California reported numbers that were down over last year. This was the third month in a row where declines were reported.
DataQuick analyst John Karevoll states that prospective home buyers perceive that home prices will continue to fall. This perception is causing people to wait.
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