CA Resales Soar

Sales of existing single-family homes in California rose 28% in September, and home prices rose 17.9%, compared with the levels recorded a year earlier, according to the California Association of Realtors.The median price of a home in September stood at $380,040, down 5% from a record $400,020 the month before, but still up significantly from the median price of $322,450 in September 2002. Resales totaled 631,880 in September on a seasonally adjusted annualized basis, compared with 493,800 a year earlier. CAR can be found on the Web at http://www.car.org.