Home Depot Gets Hammered

By Shawn Ward, Geezeo Co-Founder

Spending at home renovation stores is slowing considerably amid continued weakness in the overall housing market.

Even though new homes sales had a surprising uptick in September, rising 2.7% to 464,0001, home sales for the quarter are still down close to 8% driven largely by August's double-digit drop.

As a result, average sales per customer fell 23% since July at Home Depot, (HD Quote), according to the new Main Street Spending Index compiled by Geezeo, a personal finance Web site that helps consumers track their spending. ...