Home Sales Rise Slightly in California: The...

Home Sales Rise Slightly in California: The once-sizzling California home resale market, battered by a yearlong slump and fears of a recession, gained 2.2% in October from September levels, the California Assn. of Realtors said. The trade group said the increase, which followed a 10.7% sales decline in September, reflected home sellers lowering their prices and increased sales of smaller houses. The median price last month fell to $188,060, off 1.2% from September’s level and 2.9% from the year-ago figure. The October median marked the seventh-straight monthly decline in year-to-year prices.