Home Depot Inc. forecast a bigger decline in 2007 profits on Tuesday, citing weakness in the U.S. housing market and the sale of its supply unit.The home improvement industry leader said it expected full-year profit to fall 15 percent to 18 percent to a range of $2.30 to $2.36 per share. In May, Home Depot said earnings per share would fall 9 percent this year to $2.54. In February, Home Depot had projected a 4 to 9 percent decline in per-share earnings.

The revised outlook reflects the pending sale later this year of the supply business that provides building materials to contractors. The May guidance included that unit, which is being sold for $10.3 billion to private equity firms.