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With many Americans working, studying, and sheltering at home in the months since the coronavirus pandemic broke out, existing living spaces have had to perform functionally dual and triple roles.
Amid these shifts in usage, Americans have begun en masse do home improvement projects, updating and reconfiguring existing spaces, expanding their homes and even moving to entirely new places to better adapt to the fundamental changes in daily life that are brought about by nearly six Months of quarantine were triggered. Almost half a year after the pandemic began, as much of the world is cautiously returning to a form of normal everyday life, Americans have carried out their renovations with no end to the pandemic in sight and the number of known deaths now exceeding 170,000 people Houses.
Previously at Archinect: The divergence between residential and commercial markets continues as the impact of the pandemic on construction and design deepens.
This week, retail giant Home Depot announced record earnings for the first full quarter that includes this new way of life. CNBC reports that Home Depot’s earnings rose $ 4.33 billion for the second quarter of 2020, which ended Aug. 2. The retailer points to an increase in sales between product and consumer types as construction companies large and small see an increase in residential work that includes everything from plumbing and paint to lumber and high-end appliances. The profit increase is 25% higher than in the first quarter of the year. Net sales increased 23.4% from the previous season to $ 38.05 billion.
Previously at Archinect: Is construction activity starting to recover? Image courtesy PSMJ Resources.
The construction boom, sparked only by a surge in online sales, is leading to an increase in overall housing demand that has taken shape on the American shores since the pandemic and is due to the country’s ongoing housing shortage, which is showing no sign of Relaxation across the country shows country. Although residential architects and builders struggled during the first phase of the pandemic when strict home-stay contracts shut down thousands of construction sites across the country, recent estimates suggest continued economic strength in the residential sector for architects and builders as office and business projects on the market Rebstock with reduced demand and low short- and medium-term uncertainty. The increase in these projects has even brought customers some relief on construction and material costs, which have fallen from recent highs due to increased competition from busy contractors crowding for new projects.
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