In tough year, Home Depot supplied housing boom
The housing market was among the very few bright spots for the U.S. economy in the year of the lockdown and Home Depot became its supplier, racking up an unprecedented $132 billion in sales for 2020.
Sales grew even stronger in the final quarter of the year, surging 25% to $32.26 billion. That is up from $25.78 billion in the same period last year and exceeded even the lofty projections for $30.66 billion on Wall Street, according to a survey of analysts by Zacks Investment Research.
On Tuesday, the S&P CoreLogic Case-Shiller 20-city home price index recorded a 10.1% spike in December, compared with the same month last year. That topped the 9.2% jump the previous month, and all other months going back almost seven years.
While Home Depot was not alone in meeting the demand in the housing boom, the sheer volume of the goods it sold was staggering.
