Home Depot Raises Outlook on Hurricane-Fueled Demand
- Housing demand hasn’t improved as mortgage rates remain high
- Consumers are postponing larger projects like remodeling
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Home Depot Inc. lifted its forecast for a key sales metric after adverse weather propped up demand for home-improvement materials in the latest quarter.
Comparable sales declined 1.3% in the period ending Oct. 27, better than what Wall Street analysts were expecting during a time when high interest rates have weighed on the housing market. It was the company’s best quarterly sales performance in almost two years.