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We all know that home sales are up. And by up we mean setting new records of higher home prices and significantly less days on the market. Particularly because it is near the end of the year, these sales continually to surprise. But buyers aren’t just moving out of urban areas as the pandemic would suggest. Many are purchasing second homes due to the option of working from home being on the rise. Be it existing homes or new ones, there is no doubt that 2020 sales are historic. According to the article in Forbes earlier last month, “Home Sales Data is Another Sign to Retailers That Consumer Behavior Might be Forever Changed”, this is a trend to watch.

Retail sales are up in all sorts of sectors. And it’s not just cleaning products people want, like P&G reports. Their home-care product sales in general are up. Home improvement retailers like Home Depot are reporting record sales for various projects, including things like deck building and purchasing new appliances, perhaps for that recently updated kitchen. Additionally, warehouse stores like Costco are seeing increased earnings for large items like home exercise equipment and lawn furniture - perhaps for those newly built decks.

Even the food and beverage industries are pivoting to accommodate the change in workplace. As consumers spend more time than ever living and working at home, restaurants and manufacturers are retargeting their models to entice, and retain, consumers who now enjoy a majority of meals at home.family_cooking.jpg

What’s perhaps most significant, is retail giants concur these buying trends are here to stay, beyond the pandemic. PepsiCo CEO Ramon Laguarta sums it up, “…it’s going to be a much more flexible environment and much more tech-enabled remote kind of work, where consumers will be at home a few days of the week.” Whether these predictions are correct or not, the trend is clear. Not only are buyers interested in new homes, they are also spending their money on making their spaces safer, more comfortable, and convenient.