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On the Call: Home Depot CEO Frank Blake

The Associated Press

Home Depot reported third-quarter net income edged up on housing market gains and storm-related buying.

QUESTION: "Frank, you sounded more positive overall on signals of a housing recovery. What are you seeing?"

RESPONSE (CEO Frank Blake): "There's strength in the core of the business. ... We are not lighting rockets over this and we don't want to get out over our skis, but we are starting to see the recovery of the housing market. I mean there are lots of data points that we look at on this obviously. Geographically, the harder hit areas that were really the epicenter of the housing crisis appear to be on the mend. It has been consecutive, it has been consistent, so that is why we think it is healing."