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 improvement retail giant Home Depot (NYSE:HD) will be announcing earnings results this Tuesday before the bell.

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

Adjusted earnings per share, which excludes nonrecurring items, edged up to $4.68 from $4.67 in the same period a year ago, but was below the average analyst estimate compiled by FactSet of $4.72.