Today: US new home sales pick up speed

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Oct 27, 2010

US new home sales pick up speed

Vacant home for sale in Yonkers, New York
Sales of new homes remain subdued thanks to a glut of repossessed houses on the market
Sales of new homes in the US rose 6.6% in September to a seasonally-adjusted annualised rate of 307,000.
The figure beat market expectations of a rise to just 300,000.
However, the rate is still 21.5% below the level of a year ago and near historic lows.

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