Higher supply combined with lower mortgage rates may stimulate home sales in coming months. /AFP via Getty ImagesPhoto by Frederic J. Brown

Home sales slump in U.S. while starts increase in August

Housing starts rise, led by single-family detached home builds.

by · Calgary Herald

Home resales slumped in the United States in late summer while new home starts saw a revival in August, two new reports from TD have found.

TD Economics published in September insights regarding home resales in the U.S. from August, finding sales fell 2.5 per cent month over month, and 4.2 per cent year over year.

At the same time, inventory grew less than one per cent from July in August, and up nearly 23 per cent from a year earlier.