Home Depot Customers Opt for Smaller Projects Amid High Housing Costs
Home Depot reported a rise in second-quarter sales, driven by demand from customers undertaking smaller home improvement projects. Sales increased to $47.9 billion, up 5.7% year-over-year, with comparable sales rising 1.7%. The company noted that elevated mortgage rates and high housing prices are limiting interest in larger renovation projects. Despite a challenging market environment, Home Depot's average transaction value rose by 2.8%, to $92.50 per ticket, although the number of transactions declined slightly. The retailer reaffirmed its fiscal year 2026 sales outlook and announced job cuts at an Atlanta-based support center as part of restructuring efforts.
