Home Depot was a proxy for the hot real estate market.
What happens: The company rode along the coast at the height of the pandemic building – and only gave us a clue that it had not slowed down.
A fresh data point illuminates the boom: US house prices rose in December at the fastest pace in six years – the latest sign of strong demand.
Details: Home Depot said on Tuesday that vinyl flooring, appliances and molds generated sales at the end of last year.
- Sales for DIY projects continued at a breakneck pace.
- Home purchases by professional builders have increased the most since the pandemic began.
Get fast: Domestic demand has risen, but supply is still low – shipping prices are rising.
- Builders are competing to keep up with the demand for new homes.
- Loan rates fell as the pandemic hit, forcing incarcerated residents to look for larger or different homes.
The other side: As people spent more time in their homes, they put in extra money, fueling a housing frenzy.
What are they saying: “It took us 19 years … to get the first total sales of $ 20 billion,” but sales increased by more than that. in one year, Home Depot CEO Craig Menear told analysts today.