An aerial view of a construction worker roofing an apartment home on May 27, 2020 in Uniondale, New York.
Al Bello | Getty Images
Stuck-at-home Americans tackled long-delayed home repairs during the pandemic. They fought boredom with do-it-yourself projects. They made their houses cozier and more functional.
That has paid off for Home Depot and Lowe’s. Home Depot’s shares have risen 80% and Lowe’s shares have soared by about 170% over the past 12 months. Unlike some pandemic beneficiaries, their share prices have not fallen off in recent months. Both home improvement retailers hit fresh all-time highs on Tuesday.
As investors make post-pandemic bets, there are some factors that are keeping these companies attractive to own, namely the hot real estate market and the changing ways that people use their homes.