After 21 months of consecutive year-over-year gains, the California housing market experienced its first sales decline since March 2008 when sales fell 24.4 percent. The seasonally adjusted annualized sales of existing single-family homes decreased 10.6 percent to 539,040 in January from 602,660 (revised) in the same month of last year. Sales dropped by 3.0 percent on a month-to-month basis when compared to December 2009. Despite …
