Reported 2 months ago
Homeowners are postponing major home renovation projects as high interest rates continue to affect the housing market, prompting a 40% decline in housing turnover. Home Depot's CEO noted that customer interest in financing large projects is low, with the company expecting a sales decline of 3% to 4% this year. As mortgage rates trend downwards, there is hope for increased remodeling activity, although economic concerns may temper consumer confidence in making significant purchases.
Source: YAHOO