California's new-home sales turn positive

Median base price of homes down 4% from last year

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For the first time since December 2006, there was a year-over-year rise in the monthly count of new-home sales in California, according to the California Building Industry Association.

The association’s monthly CBIA/Hanley Wood Market Intelligence (HWMI) New-Home Sales and Pricing Report showed sales in new-home communities of 10 units or more were 25 percent above October 2008. New-home and condominium sales rose to 2,294 this year from 1,838 last year.