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KEY POINTS

  • Houzz, an online home remodeling platform, reported a 58% annual increase in project leads for home professionals in June.
  • Those working on outdoor spaces saw the biggest increase in demand, with searches for pool and spa professionals three times what they were a year ago.
  • Poolcorp, an international distributor of swimming pool supplies, parts and outdoor living products, hit a new intraday all-time high this week and is up over 54% this year.

There is a lot of activity in Justin Sullivan’s backyard, as workers hammer out his new deck, and jackhammers pound through the basement.

Concrete for the new pool has already been poured. The Sullivans had planned a renovation before the pandemic hit, but then suddenly it became a much bigger project.

“The pool, the home gym, the sauna — those are things that when you’re not able to go out, your house is an enjoyable space where you can live bunker-style and still be active, still feel comfortable, and still enjoy,” said Sullivan. “The kids will have spaces to make sure they can work from home, and when it gets really hot in the summertime, they’ll have a place where they can cool off.”

The Sullivans are far from alone in their desire to create a retreat, even if that retreat is in their own basement. Houzz, an online home remodeling platform, reported a 58% annual increase in project leads for home professionals in June.

Those working on outdoor spaces saw the biggest increase in demand, with searches for pool and spa professionals three times what they were a year ago. Not far behind, landscape contractors, deck and patio professionals all saw more than double the demand.

Pool demand is so strong that even Wall Street investors are taking note. Poolcorp, an international distributor of swimming pool supplies, parts and outdoor living products, hit an intraday all-time high this week and is up over 54% year to date. The stock is on pace for its best year since 2003.

Much like real estate agents, remodeling professionals are now adapting to a new world of social and professional distancing.

 

Read full article: [www.cnbc.com]

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