{"id":24058,"date":"2026-08-18T16:38:56","date_gmt":"2026-08-18T16:38:56","guid":{"rendered":"https:\/\/playball.com.ng\/?p=24058"},"modified":"2026-08-18T16:38:56","modified_gmt":"2026-08-18T16:38:56","slug":"home-depot-customers-stick-to-smaller-projects-as-housing-costs-stay-high","status":"publish","type":"post","link":"https:\/\/playball.com.ng\/?p=24058","title":{"rendered":"Home Depot customers stick to smaller projects as housing costs stay high"},"content":{"rendered":"


\n<\/p>\n

<\/p>\n
\n
\n
\n
\n

Check out what’s clicking on FoxBusiness.com.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Home Depot customers are still spending on their homes, with smaller projects supporting demand as Americans contend with elevated mortgage rates and high home prices.<\/p>\n

The home improvement retailer said Tuesday that second-quarter sales rose 5.7% from a year ago to $47.9 billion, while comparable sales increased 1.7%. Comparable sales in the U.S. climbed 1.3%. The results came as consumers continued to favor smaller-scale home improvement work over larger projects.<\/p>\n

“Our second quarter results exceeded our expectations. We saw broad-based demand across the business as customers continued to engage in smaller projects,” Home Depot Chief Financial Officer Richard McPhail said.<\/p>\n

Shoppers also spent more per transaction. Home Depot’s average ticket rose 2.8% from a year earlier to $92.50, while comparable customer transactions declined 1%.<\/p>\n

IS MIAMI REALLY COSTLIER THAN NEW YORK CITY? WHY TOP DEVELOPERS SAY THE MATH STILL FAVORS FLORIDA<\/strong><\/p>\n

\n
\"Customers<\/source><\/source><\/source><\/source><\/picture><\/div>\n
\n

Customers shop at a Home Depot store on August 19, 2025, in Chicago, Illinois.<\/span> (Scott Olson\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

The spending pattern comes as the housing market remains constrained by affordability pressures, potentially limiting demand for larger renovations that are more likely to require financing.<\/p>\n

\n
\"A<\/source><\/source><\/source><\/source><\/picture><\/div>\n
\n

Home Depot confirmed hundreds of job cuts tied to its Atlanta-based support center.<\/span> (Mario Tama\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

Existing-home sales fell 1.7% in July from the previous month to a seasonally adjusted annual rate of 4.06 million, according to the National Association of Realtors. Meanwhile, the median existing-home price rose 2% from a year earlier to $434,100.<\/p>\n

Borrowing costs also remain elevated. The average rate on a 30-year fixed mortgage was 6.67% as of Aug. 13, according to Freddie Mac, up from 6.58% a year earlier.<\/p>\n

MAKER OF ICE CREAM SOLD AT GROCERY STORES NATIONWIDE FILES FOR BANKRUPTCY AS IT APPEALS $23.8M JUDGMENT<\/strong><\/p>\n

High borrowing costs and home prices can raise the hurdle for home purchases and larger renovation projects, even as homeowners continue spending on smaller projects around the house.<\/p>\n

\n
\"Home<\/source><\/source><\/source><\/source><\/picture><\/div>\n
\n

Home Depot announced it will cut about 800 jobs tied to its Atlanta store support center as part of a corporate restructuring.<\/span> (Brandon Bell\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

Home Depot reported second-quarter net earnings of $4.8 billion, or $4.79 per diluted share. Adjusted earnings were $4.92 per share.<\/p>\n

CLICK HERE TO GET FOX BUSINESS ON THE GO<\/strong><\/p>\n

Despite the uneven housing environment, the Atlanta-based retailer reaffirmed its fiscal 2026 outlook. Home Depot continues to expect total sales growth of approximately 2.5% to 4.5% and comparable sales growth ranging from flat to 2% for the year. The sales guidance is consistent with the outlook Home Depot issued earlier in fiscal 2026.<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Check out what’s clicking on FoxBusiness.com. Home Depot customers are still spending on their homes,…<\/p>\n","protected":false},"author":1,"featured_media":24059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sport"],"_links":{"self":[{"href":"https:\/\/playball.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/24058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/playball.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/playball.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/playball.com.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/playball.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24058"}],"version-history":[{"count":0,"href":"https:\/\/playball.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/24058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/playball.com.ng\/index.php?rest_route=\/wp\/v2\/media\/24059"}],"wp:attachment":[{"href":"https:\/\/playball.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/playball.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/playball.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}