Is Now the Right Time to Buy Home Depot Stock?
Mega-retailer Home Depot (NYSE: HD) has fallen roughly 24% from its post-pandemic peak. The home improvement boom of 2020 and 2021 sent the stock soaring, but now a slowing housing market and inflation impacts on consumer spending have investors concerned.
With potential economic challenges on the horizon, investors are rightly wondering if now is a good time to buy Home Depot stock or not. Let's take a closer look to see.
Home Depot is the largest home improvement retailer in the world, having over 2,300 stores in all 50 states alongside Canada, Mexico, and three U.S. territories. A cooling housing market isn't great for a company that has direct ties to the housing industry. But it's also not as big of a cause for concern as many investors believe.
Source Fool.com
