Home Depot sales continue to surge in hot housing market

Home Depot’s sales continued to climb through third quarter with the U.S. housing market red hot

Home Depot's sales continued to climb through third quarter with the U.S. housing market red hot.

Revenue rose 9.8% to $36.82 billion, exceeding the $34.97 billion Wall Street had expected, according to a survey by Zacks Investment Research. Sales at stores open at least a year, a key gauge of a retailer's health, jumped 6.1%, also better than expected. Those sales rose 5.5% in U.S. stores.

While the number of customer transactions slipped 5.5%, the average receipt rose 12.9% to $82.38.

Some of those bigger shopping trips involved people prepping their homes for the winter season, but also higher prices due to snarled supply chains and shortages as the U.S. economy emerges from the pandemic, said Neil Saunders, managing director of GlobalData.