Building Materials Sales’ Impact on Lowe’s, Home Depot

Consumers are dedicating time and money to home improvement projects this summer, and June was a hot month for spending in the building materials category.

Forbes reported that sales in building materials were up 3.9 percent in June, and overall retail sales were up 0.6 percent.

“We are coming out of that housing bust environment. And with the value of home prices going up, there are consumers who are back in the money and so they are now thinking about doing home improvement projects – like fixing the roof, painting the walls, etc.,” Steve Baumgarten, portfolio manager at PNC Capital Advisors says in a Forbes article.

Home Depot and Lowe’s reported sales growth in Q1, and recent sales and purchasing behaviors could lead to a promising second quarter for the big box retailers, according to Forbes.

Sales results for both companies are due to be released mid-August.