Lowe’s CEO, Marvin Ellison is reaping a 6% boost in the chain’s stock, he expects success to continue to 2026 with an upwards trend in renovations. In an interview with Yahoo Finance, the CEO described a perfect equation for renovation activity, “Americans have “significant equity” of an “average of $400,000 in equity per home,” said Ellison. “We expect homeowners to start, at some point, to tap into these … home equity lines of credit (HELOC) to start to finance larger, more discretionary home improvement projects, because they’re going to be reluctant to give up those sub-4%, sub-3%, 30-year fixed mortgage rates,” he continued.
HELOCS are continually gaining popularity to finance home improvements. According to the National Association of REALTORS®, the typical age of first-time home-buyers at 40 years-old. Additionally, the average age of a home is at it’s all time high at about 44 years old. With both the the stock and homebuyer age climbing, renovations are a nonnegotiable to preserve quality, comfortability and long-term livability.
According to research at Angi report, 93% of homeowners planned home improvement projects in 2025, a large portion of this community are Baby Boomers who are making changes to age-in-place. While 46% are respondents are planning for large-scale projects over the next five years, such as kitchen remodels (31%) and bathroom upgrades (28%).
