The builders are now concentrating on multifamily dwellings for rental purposes; accordingly HD’s investment is in line with the new construction trend. Single family homes construction is still at the historically lowest level in two decades. This transaction is the largest in that past ten years and in fact was only superseded in size by one other deal.
HD has a vested interest in its professional builder and craftsmen community which rings the register for 35% of the HD’s annual sales. To support this type of customer HD just introduced a new line of tools specifically for the professional craftsman which are being manufactured by Milwaukee, and DeWalt. Even in this slow recovery of the housing market, HD’s fastest growing division is this “pro” group.