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California Housing Market Faltering

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In a sign that the once resilient housing market could be faltering, new home sales in California plummeted 30 percent in the third quarter from a year ago.

New home sales had been expected to fall in expensive markets such as the San Francisco Bay Area and Orange County.

But the third quarter ending September 30th also brought steep declines in more moderately priced areas such as Sacramento and the Central Coast.

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