Home-Renovation Spree Allays Concern Housing Rebound Slowing
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America’s renewed zeal for home renovations is here to stay.
Both Home Depot Inc. and Lowe’s Cos. topped their initial sales forecasts for last year, benefiting from consumers’ eagerness to invest in their homes. The results helped alleviate concern that a slowdown in the housing market’s rebound and sluggish job growth would quell demand for appliances, flooring and paint.