The S&P 500 is back to pushing all-time highs, but some stocks are still down substantially from their record highs.

Home Depot (NYSE: HD) is one of them. The world's largest home improvement retailer is down 21% from its peak, due to a slowdown in the housing market and the company's own expectations this year for a decline in revenue and earnings after a boom during the pandemic.

However, despite the near-term weakness, there are a number of reasons for it to be the leading home improvement stock now.

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Source Fool.com