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Home Improvement: Lowe’s and Home Depot Bright Spots In Retail This Season



 

Home Improvement: Lowe’s and Home Depot Bright Spots In Retail This Season

Home Improvement: Lowe’s and Home Depot Bright Spots In Retail This Season
News from International Business Times:

Americans may not spend as much as retailers hope this holiday season, but analysts expect more outlays to flow to home improvements. Quarterly earnings reports from Home Depot and Lowe’s this week are expected to show solid growth in home repairs and remodeling as brighter housing and job markets help homeowners spiff up before end-of-the-year festivities.

Building material sales rose 7.6 percent in September compared with a year ago and 5.1 percent in October, according to federal data. That’s higher than the retail sector’s average 3.7 percent gain in October, excluding cars. Clothing, sporting goods, music, books and general merchandise all posted slower sales growth than home materials in recent months.

“It’s pretty clear that the home improvement sector has been taking share from ot…………… continues on International Business Times

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Related News:

Rising rents correlate with less home improvement spending
News from Housing Wire:

A study by BuildZoom shows that in San Francisco, zip codes in which rents increased more steeply have actually tended to see remodeling and home improvement activity increase less than elsewhere, and in some cases even decline.

“Using data on housing costs from Zillow in conjunction with our building permit data, we estimate that from 2011 to 2013 a 10% increase in rents in a zip code area was accompanied, on average, by a 9.7% decrease in the number of homes undergoing permitted improvement,” says Issi Romem, chief economist for BuildZoom.

The full report can be read here. 

In contrast, Romem found, remodeling and home improvement activity tended to increase more in zip codes with greater increases in home values, as opposed to rents.

“From 2004 to 2013 we estimate that, on average, a 10% increase in home values was associated with a 4.3% increase in the number of homes undergoing improvement,” he says.

Romem concludes that rents are a reliable indication that competition among renters is intense, which enables landlords to mini…………… continues on Housing Wire

… Read the full article


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