Spring is finally peaking in through in much of the country, and one of the big things that means is it’s almost time to get outside and start those home projects that were blanketed in snow for the past few months.

And there’s one place that is going to get a lot busier — Lowe’s Companies, Inc. (NYSE:LOW). Lowe’s will not only benefit from a busy spring, but LOW stock is also doing very well as homeowners continue to take advantage of low interest rates by refinancing and using some of the liberated equity to add improvements to their properties.

LOW is also linked into the nation’s new housing growth. On the surface, new home sales (as well as existing home sales) seem like they will take a hit as the Federal Reserve begins to raise interest rates.

However, Freddie Mac and Fannie Mae, national federal government-backed lenders that support much of the home buying market, are planning to launch 3% down-payment products for select housing and consumers. That should certainly make it much more attractive for first time buyers and lower income buyers to enter the housing markets.

Also, as the U.S. economy continues to add jobs, that means the economy will continue to improve. That will help add home buyers in 2015.

Bear in mind, when existing homes sell, the new owners almost always do some renovations to make the place their own. No matter whether it’s repainting the interior, or switching out the carpeting, or adding a sunroom and deck, LOW is a major beneficiary.

Even if you’re not bullish on the economic recovery in the U.S., LOW still has an advantage. If consumers become increasingly cautious, many times instead of moving up to a bigger house or taking on a major project, they will opt for do-it-yourself projects and improve their current properties. That’s still good news for LOW.

The only thing that is really bad for LOW business is a real estate cataclysm like 2009 or a deep recession where the economy grinds almost to a halt.

A look at Lowe’s 2014 Q4 numbers proves that LOW is firing on all cylinders. Net earnings for the quarter clocked grew by a stunning 47% year over year. Earnings improved by 29% year over year. And the last quarter wasn’t a fluke: Net earnings have been climbing steadily for 10 months now.

There are two new concerns that have been swirling around of late but both are easily dismissed. First, competitor Home Depot Inc (NYSE:HD) lower its guidance for 2015 citing the strong dollar will hurt sales outside the U.S. LOW also has operations in Canada and Mexico — so, there’s a risk there but its domestic business is growing so well, it hasn’t warned about this issue and should be fine.

Second, two insiders have sold large amounts of LOW stock in early March. The CEO sold about 8.7% of his shares and an Executive Vice President sold 37% of his shares. Some may have been profit taking since LOW stock sits near 52-week highs, and it could also be a tax time move. Either way, it’s not a trend, just a blip.

There’s a chance Lowe’s stock will pull back a bit in the short term, but it’s not really something to quibble about. Lowe’s is a great long-term hold. So, paying an extra $2 or $3 a share over the long run isn’t going to matter. LOW is a top pick for anyone looking to play the improving U.S. economy.

Louis Navellier is a renowned growth investor. He is the editor of five investing newsletters: Blue Chip Growth, Emerging Growth, Ultimate Growth, Family Trust and Platinum Growth. His most popular service, Blue Chip Growth, has a track record of beating the market 3:1 over the last 14 years. He uses a combination of quantitative and fundamental analysis to identify market-beating stocks. Mr. Navellier has made his proven formula accessible to investors via his free, online stock rating tool, PortfolioGrader.com. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters.