Housing bill could boost Home Depot demand over time
A housing bill that cleared Congress could eventually send more Pro orders, installs, and delivery work into Home Depot stores if it speeds building and rebuilding.
The Senate approved the 21st Century ROAD to Housing Act 85-5 on June 22 and the House followed with a 358-32 vote a day later, sending a wide-ranging housing package to the finish line after more than 1,100 National Association of Home Builders members lobbied lawmakers on Capitol Hill earlier this month. The final bill folds in provisions from more than 60 pieces of legislation and includes more than 50 sections touching housing supply, financing and disaster recovery.
The package includes a three-year authorization for Community Development Block Grant-Disaster Recovery, a 100,000-unit increase to the Rental Assistance Demonstration cap and a new Moving to Work cohort, all of which could affect how quickly housing stock gets repaired, converted or replaced.
The bill also kept a restriction on institutional investors buying single-family homes while carving out an exception for build-to-rent properties. NAHB said a prior build-to-rent sales requirement would have forced purpose-built rental homes to be sold within seven years and could have cut rental supply by 40,000 to 72,000 units a year. More than 250 groups backed the revised amendment by May 29, including the National Multifamily Housing Council, which said the change protects and supports as many as 72,000 build-to-rent households each year.
The package includes steps to boost manufactured housing, build more homes in Opportunity Zones, streamline environmental reviews that slow residential construction, encourage transit-oriented development and promote zoning and land-use reforms. Richard McPhail, Home Depot’s chief financial officer, said housing turnover is a major driver of spending on home improvement and related categories, and that the market has been unusually frozen. Home Depot reported first-quarter fiscal 2026 sales of $41.8 billion, up 4.8% from a year earlier. The bill also raises FHA multifamily loan limits and HUD HOME income eligibility, with FHA-insured multifamily loan limits unchanged for 12 years.
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