New-home sales increased this month in Los Angeles, Orange and San Diego Counties according to an industry report this Friday. According to the report, new-home prices rose year over year in Los Angles, and San Diego counties. These are also the areas in Southern California where builders are more likely to offer non-monetary incentives instead of discounts off sales price.

The new-home median in LA County rose 5.7% from this time last year, contrasted by Riverside County's 4% decline since last April. Patrick Duffy, director of a Costa Mesa research firm said to the Los Angeles Times, "In general, it's those areas located close to job centers that will negotiate the current slow down..."

New-Home Sales only make up about 15% of all real estate sales transactions, but their numbers are watched closely by real estate experts because major price swings can help assess trends in other real estate markets.

John Wall, Realtor
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