One pandemic side-effect affecting St. Cloud 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 St. Cloud 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 St. Cloud 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 St. Cloud properties are performing right now!

Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. We have agents specializing in residential, commercial, multifamily, new construction, existing, investment properties, foreclosures/REO, and short sales with offices located in:

Five Office Locations To Serve YOU!

Saint Cloud 320-259-4554
Princeton 320-983-3555
Maple Grove 763-565-2000
Hutchinson 320-455-9127
Litchfield 320-298-1140

Premier Real Estate specializes MANY areas around Central MN including Saint Cloud, Waite Park, Rice, Royalton, Sartell, Royalton, Little Falls, Cold Spring, Saint Joseph, Elk River, Monticello, Ramsey, Saint Michael, Andover, Ham Lake, Anoka, Champlin, Buffalo, Glencoe, Brownton, Silver Lake, Kandiyohi, Dassel, Minneapolis, Maple Grove, Saint Louis Park, Saint Paul, Robbinsdale, Crystal, New Hope, Brooklyn Center and more!