Home improvement demand is closely related to the underlying strength of the housing market. Most people undergo renovation projects just before selling a house or after buying a new place. Visits to Home Depot stores dropped 2.2% year over year in the second quarter, according to foot-traffic data from Placer.ai.

Home Depot said Tuesday that some of its prices could be going up because of the cost of tariffs.

As homeowners opt to stay put longer, spending has shifted toward smaller repair projects and maintenance, dampening sales of big-ticket renovation products.