The do-it-yourself home improvement market is running hot again, although demand hasn't entirely recovered from pre-recession levels.
Rising home turnover and price appreciation, along with job and wage growth, are driving demand and sales growth at the nation's two largest DIY retailers. Management at Home Depot and Lowe's recently offered upbeat outlooks for the next few years and each cited some of these macro factors.
"The customer is clearly investing in our space so we're in a good asset class as it relates to housing," Home Depot Chairman and CEO Craig Menear said last month during the company's earnings conference call. However, he also said "special order kitchens, countertops in all manner of millwork still remain below the 2006 peak."