Some Dewey Beach, DE Homeowners Use Pause to Improve Properties
One pandemic side-effect affecting Dewey Beach, DE residential properties got Wall Street’s attention last week. The second-quarter sales numbers were scheduled for release, and the home improvement industry was expecting strong results. Sure enough, come Tuesday, Home Depot weighed in with what MarketWatch hailed as “stellar business performance”—domestic sales growth of 25%.
The following morning, Lowe’s announced “very strong” second-quarter results. They weren’t kidding. With “sales for the home improvement business increasing 35.1%,” modesty would have been inappropriate.
In fact, the big-box giants’ record-breaking flood of commerce reflects the circumstances many Dewey Beach, DE homeowners have been dealing with themselves. Because of the pandemic-spawned disruptions to normal spending patterns (Lowes’ calls that the “wallet share shift”), many newly-housebound residents have turned their attention onto the homes they’ve been spending so much time in. Suddenly, what the industry terms “core repair and maintenance activities” have been getting a lot of attention—and “wallet share.”
The Bank of America speculated on three reasons for the surge. There was the pent-up demand for home improvement projects that had been temporarily put on hold because of COVID-19. Next, there were a whole host of projects suddenly gaining popularity (improving newly activated home offices, building beds for home gardening, enhancing outdoor spaces, etc.). Lastly, BofA cited demand for home improvement projects “pulled forward” sooner than would normally have been the case. They didn’t explain why—but given the wholesale abandonment of many summer vacation and entertainment plans, it probably made sense for many Dewey Beach, DE residents to use the lull to tackle projects sooner rather than later.
Realtor.com seized the moment to recommend DIY projects that get the most return on investment when it comes time to sell. Kitchen cabinets, front doors, backyard decks, basements, storage areas, and “small things” (like leaking faucets and missing light fixtures) all qualified as investment-worthy targets for repair or improvement—as did the broader category of curb appeal.
For homeowners who’ve hesitated to make a move, they are likely to find the market more welcoming than expected. Call me for a comprehensive, no-obligation report on how comparable Dewey Beach, DE properties are performing right now! Call/Text me Russell Stucki at (302) 228-7871, email me at firstname.lastname@example.org, visit more listings at www.beachrealestatemarket.com.