Lowe's has made two significant acquisitions, LBM and ADG, to gain exposure to larger professional contractors and the homebuilding market.

U.S. home prices have increased by over 50% over the last several years.

The U.S. housing market turnover is currently about 20% below normalized levels.

The current rate of existing home sales in the U.S. is approximately 4 million units per year, whereas a healthy market would be around 5 million.

Drew Redding predicts that existing home sales in the U.S. will grow by a low single-digit percentage in 2026.

Lowe's reported a 0.6% increase in same-store sales and maintained its full-year guidance for flat to 2% growth.

Home Depot maintained its full-year same-store sales guidance, which calls for growth between 0% and 2%.

Home Depot reported a slight miss on same-store sales in its most recent quarter.