Tag: Fuels

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Ageing Housing Inventory Fuels Residence-Enchancment Growth

Lowe’s says same-store gross sales rose 5% in 4Q 2021, partly as a result of the housing inventory is growing old and extra annoyed patrons are choosing 30-plus year-old houses.

NEW YORK – The house enchancment increase reveals few indicators of slowing down. Lowe’s instructed shareholders Wednesday its same-store gross sales had been up 5% within the fourth quarter. The corporate additionally raised its gross sales forecast for the 12 months to $99 billion. That was after Residence Depot reported an 8% improve in same-store gross sales the day earlier than.

One large motive for the expansion: a housing inventory

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Covid-19 Fuels Greatest-Ever Business Actual-Property Gross sales

Buyers set a file for U.S. commercial-property gross sales final 12 months, betting that the pandemic is reordering how Individuals reside, work and play.

Actual-estate patrons loaded up on warehouses, which function success facilities for the e-commerce growth. They purchased residence buildings to capitalize on file excessive rents. They paid up for resorts and vacation-oriented accommodations that benefited from the resurgence in journey to leisure locations.

“Did the pandemic speed up these developments?” requested Spencer Levy, senior financial adviser at real-estate agency

CBRE Group Inc.

“You wager it did.”

Total, commercial-property gross sales totaled a file $809 billion in 2021,

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