Homeowners are still holding off on renovations until interest rates come down.

This insight comes from consumer behavior data shared byHome Depot Inc.(NYSE:HD) executives during their most recent earnings call.

A drop in sales from furniture retailerWayfair Inc(NYSE:W) falls in line with these data while the bankruptcy ofLL Flooring(NYSE:LL) shows that the slowdown has been too heavy for some businesses to bear.

What Home Depot Is Saying:The real estate market was one of the sectors hit hardest by rising interest rates.

While the prospect of an interest rate cut in...