Here’s why fewer Home Depot customers could be a bad sign for the housing market

Here's why fewer Home Depot customers could be a bad sign for the housing market

Home improvement stores such as Home Depot and Lowes have thrived during the pandemic and red-hot housing market, but signs are pointing to a major cool off for the companies. 

Experts are concerned with some of Home Depot’s stats from its second quarter earnings, including its same-store sales growth, which was only up by 3.4%. Analysts say this is a significant drop off and much lower figure than expected. 

Additionally, Home Depot reported a 6% decline in sales as compared to last year. Fewer customers and a concerning decline in sales have resulted in a major stock price decline as well. 

And while all of those issues are concerning for Home Depot, here’s why they are even more alarming for the housing industry.

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