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Home Depot Reports Americans Scaling Back Large Remodeling Projects
Home Depot said Americans are reducing spending on major home improvement projects amid economic uncertainty and a subdued housing market. The retailer cited affordability pressures as a key factor.
May 19, 3:20 PM·1m read1 source
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Home Depot said Americans are scaling back large remodeling projects as they face mounting economic uncertainty and a subdued housing market strained by affordability pressures. The company linked the trend to broader conditions affecting consumer spending on home upgrades. It did not specify the size of the decline or provide quarterly figures in the statement.
A subdued housing market has limited opportunities for large-scale renovations, according to the retailer. Affordability pressures continue to influence household decisions on major expenditures. The company did not outline specific next steps or forecast changes in consumer behavior.
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