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Good Bill of Health for the Housing Recovery

Lowe's Companies, Inc.(NYSE:LOW) reported stellar second quarter earnings. Net income rose 26 percent and EPS beat estimates by 9 cents a share. In current trading, shares are up above 5%. Speculation on the health of the housing recovery is gaining a good bill of health. Both the Home Depot, Inc.(NYSE:HD) and Lowe’s sited the growing positive trends in the housing market as significant contributors to earnings. As I allude to an earlier blog, Americans are spending more on their homes than retail.

With U.S. homebuilders’ confidence at an eight year high and housing starts rising
nearly 5.9% last month, this recovery is real.

(Image source: Justin Sullivan, Getty Images)