1 Reason to Buy Home Depot Stock During This Historically Weak Housing Market

Home Depot stock is down 11% over the past year amid a historically weak housing market with record-low turnover. However, the article argues this presents a buying opportunity for long-term investors, as management indicates customers have the financial means to spend on large projects but are waiting for more certainty on inflation, interest rates, and jobs. The stock trades near its three-year average valuation despite depressed earnings, and Home Depot has posted eight consecutive quarters of same-store sales growth with professional contractors, suggesting pent-up demand ready to be unleashed when housing recovers.