One of the interesting outcomes of the coronavirus pandemic is the surge in housing prices. Folks realized they would be spending a lot more time at home and desired better accommodations. Additionally, remote working increased, and if you didn't need to stay within a certain radius of your company's offices, it created more options for where you could live.
According to the Federal Reserve Bank of St. Louis, home prices rose 19.7% in July from the same month last year. Home prices have been growing by double-digit percentages year over year since December 2020. Two growth stocks that could benefit from this trend are Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) . Consumers are typically more interested in home improvement projects when home values are rising.
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2 Growth Stocks That Can Benefit From Rising Home Values