Home Depot’s DIY Comeback: How Falling Interest Rates Could Skyrocket Its Sales

The Home Depot reported its third quarter 2024 financial results, demonstrating a mixed performance amidst a challenging economic environment. Total sales for the quarter reached $40.2 billion, marking a 6.6% increase from the previous year. However, this was offset by a 1.3% decline in comparable sales, highlighting persistent pressure on demand within the home improvement sector. The company’s U.S. stores experienced a 1.2% decline in comparable sales, impacted by macroeconomic factors and rising interest rates which have dampened consumer enthusiasm for larger, financed remodeling projects.