February 24th, 2011
This shows consumer confidence, which is a great sign for the mortgage market. Also, it shows that people are making further investments into their home.
Both Lowe’s and Home Depot have seen an increase in sales in the most recent quarter. Lowe’s said yesterday that their fourth-quarter profits increased by 39%.
While the spike in sales is not a complete economic recovery omen, “the positive results show home-improvement retailers are seeing signs of life from shoppers as they take on projects around the house that were delayed during the consumer spending slowdown and recession,” said the CEO of Lowe’s, Robert Niblock, in the Chronicle.