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Home improvement retail stores say that the housing market is still on the right track despite lower sales the last few months. Retailers are saying that the harsh winter slowed sales, not a lackluster housing market. Now that spring has arrived, sales have increased significantly. Frank Blake, the Chief Executive Officer of Home Depot said, “many indicators in the housing market have softened over the last several months, leading to the question of whether this indicates that the housing recovery has run out of steam.” Home Depot’s revenue increased 2.9% in the first quarter of this year, averaging 19.7 billion. More here
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