The Worst Mistake Home Depot Investors Can Make Right Now
According to data from Redfin, a real estate brokerage firm, home prices in the U.S. have fallen for five straight months. And a 30-year fixed rate mortgage is currently at 6.6% nationwide, spurred by the Federal Reserve's aggressive ongoing rate-hiking policy aimed at stopping record inflation. That's more than double the rate from a year ago.
Unsurprisingly, selling shares of Home Depot (NYSE: HD), the largest home-improvement retailer in the world, might be on investors' minds right now. Here's why this would be a huge mistake.
While a softer housing market might immediately have you thinking of selling shares, the demand for home-improvement projects has remained healthy, and it shows in Home Depot's latest results. In the most recent fiscal quarter, Home Depot reported that revenue and diluted earnings per share increased 5.6% and 8.2%, respectively.
Source Fool.com
