US new home sales pick up speed

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.