Home Depot’s slowing sales suggest Americans feel lousy about housing
Washington, DC
CNN
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After three straight years of sales growth, Home Depot went into reverse in the first quarter, and sales and profits were expected to tumble again in the second quarter when the company announced its earnings Tuesday.
It might be because Americans rarely feel worse about housing.
Only 18% said it was a “good time to buy” according to July’s Home Purchase Sentiment Index from Fannie Mae, matching an all-time low.
Unsurprisingly, people continue to attribute the challenging housing conditions to high home prices and unfavorable mortgage rates, said Doug Duncan, Fannie Mae senior vice president and…