Home Depot delivers latest upbeat housing signals
Providing a positive signal for the housing market, the world’s largest home-improvement retailer, Home Depot Inc., reported a better-than-expected fiscal-third-quarter profit Tuesday and raised its outlook for the year.
Among its upbeat indicators, the company(US:HD) cited continued improvement in Florida and California, both of which were among the states hardest hit by the housing downturn, as well as increased sales to professional contract customers, another key barometer of housing-market demand.
“We believe the U.S. is still working through the issues associated with the housing crisis,” Chief Executive Frank Blake said during a Tuesday conference call, adding that national numbers also show housing has regained its status as a positive contributor to U.S. economic growth. See the full story at articles.marketwatch.com.