1732 ET - RH's results are being hit by lower-than-expected demand levels while the company operates in what CEO Gary Friedman called the worst housing market in the U.S. in almost 50 years. In 1978 there were 4.09 million existing homes sold when the U.S. had a population of 223 million. Contrast that to 2024 where 4.06 million existing homes sold with a population of 341 million, Friedman says. "This illuminates just how depressed the housing market has been this past year," the executive notes. "While we expect a higher risk business environment this year due to the uncertainty caused by tariffs, market volatility and inflation risk, we believe it's important to separate the signal from the noise," Friedman says. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 02, 2025 17:32 ET (21:32 GMT)
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