Home Depot Q3 sales surge as market improves

ATLANTA — Home Depot, benefiting from falling unemployment, still-low mortgage rates and rising home prices, saw its sales surge in the third quarter. The home improvement retailer extended its streak of strong earnings while some other retailers have struggled. But Home Depot and its rival Lowe’s have stood out, thanks in part to low mortgage rates that have led to a warming housing market in the U.S. and increased refinancing. For the three months that ended Oct. 30, Home Depot Inc. earned $1.97 billion, up from $1.73 billion a year earlier. Revenue increased to $23.15 billion from $21.82 billion.