In this segment from the Motley Fool Money radio show, host Chris Hill, Million Dollar Portfolio's Jason Moser, and Motley Fool Total Income's Ron Gross weigh in on why Home Depot (HD -0.74%) was able to turn in such a glowing first-quarter report: It beat on profit, its average tickets are up, and all signs point to a bright outlook. The leading home improvement retailer's gains are partly powered by factors beyond its control, such as the housing market, mortgage rates, and its wares' resistance to the threat of e-commerce. But it's capitalizing on the trends well. So where does it go from here?

A full transcript follows the video.

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This video was recorded on May 19, 2017.

Chris Hill: Home Depot's first-quarter report demonstrated once again why Home Depot is the No. 1 home improvement chain in America. Ron Gross, profits, same-store sales, where would you like to begin?

Ron Gross: It's good stuff. It's nice to see a nice report coming out of a retailer. They're clearly bucking the trend, as we have said week after week, of retailers doing quite poorly. They continue to be helped by low mortgage rates, solid housing market, that's really the big story here, plus the fact that it's not as easy to purchase a lot of this stuff through Amazon or online. Although, their online sales are up 23%, so they're doing a good job there as well. But, same-store sales up 5.5%, 16% pop in big-ticket transactions, which is a big number. Increased their guidance. Stock is only trading at 22 times, that's fine for a company that putting up numbers like this. Five years from now, if interest rates are different and the housing market is different, will that impact their business? Yes, it probably will. But that will ebb and flow for the life of this company, and I still think it's just such a solid operator.

Jason Moser: What's interesting to see is, they performed so well here in the recent past, you look at the homeownership rate over the most recent decade, it's actually kept on falling, ever since 2005, it's trended straight downward to far below where it was in 1995. There's a great opportunity for Home Depot here as that home ownership rate starts to tick back up. That is the place to go, whether you own or rent, whether it's rain or shine. You just have to love these guys' market opportunity.

Gross: Interestingly, Lowe's just announced they were investing $500 million to buy two companies that sell products to apartment building managers, because they're trying to diversify away from the do-it-yourself homeowners. Because even though they do pretty well, Home Depot continues to just do a little bit better.