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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (729380)	3/6/2006 10:59:23 AM
From: Karen Lawrence	Read Replies (2) \| Respond to of 769670

California home sales drop 24% in January Decline reflects rising mortgage interest rates and weakening consumer confidence. there you go, mr economics whiz. February 28, 2006: 7:26 PM EST money.cnn.com SAN FRANCISCO (Reuters) - California's housing market is slowing as analysts had predicted, underscored by a slump in home sales in January, according to the California Association of Realtors. Sales of existing, single-family detached homes in California totaled 500,470 at a seasonally adjusted annualized rate in January, down 24.1 percent from a year earlier and 5.9 percent from December, according to the report from the association. The declines reflect a weakening in consumer confidence, and a rise in mortgage interest rates which have sidelined nervous home buyers, the association said. "We have now seen three months in a row where sales have dropped more than expected," said Robert Kleinhenz, an economist with the association. "At least some home buyers have adopted a wait-and-see attitude."