In terms of gross sales, residential development and construction is the largest single sector of the real estate industry. Because of the typical builder’s organizational structure and financial leverage, the financial position and operating results of the homebuilder can change drastically in a relatively short time. Specialists serving the homebuilding industry must consider the significance of national economic changes, including demographics, financing, interest rates, consumer confidence, and housing demand. They also have experience in all facets of low income, affordable, luxury communities, and multifamily housing, and with issues covering changing tax law, the environment, and regulatory climate.