Published on 1 Sep 2022 on Insider Monkey via Yahoo Finance
10 Home Improvement Stocks to Buy Now
In this article, we will be looking at 10 home improvement stocks to buy now. If you want to skip our discussion on the home improvement sector, go directly to 5 Home Improvement Stocks to Buy Now.
Home improvement represents a growing sector of the U.S. economy, with its size expected to surpass the $600 billion level by 2025, according to Statista. The current market size stands at around $538 billion. One of the key themes of the home improvement sector is the home decoration category, which comes in full swing during the second-half of the year, especially during the Christmas season.
Although many sectors came under pressure during the COVID-19 pandemic, the home improvement sector saw a dramatic acceleration, as homeowners found extra time to work on do-it-yourself (DIY) and home improvement projects. Research by HomeAdvisor reveals that nearly 35% of Americans indulged in repainting their living space or some sort of garden landscaping during the pandemic. Meanwhile, 70% of Americans decided to start a home improvement project during the lockdowns. The pandemic made people realize that their homes should not only be suited for living purposes but also for other aspects like work, education, and outdoor activities. Some homeowners also opted to install security cameras or high-speed internet.