Dive Brief:

• Weyerhaeuser Co is selling its homebuilding division to Tri Pointe Homes Inc.
• The $2.7-billion deal will transform Tri Pointe into one of America's largest homebuilders as it gains access to developed land in crucial markets like California and Texas.
• The deal will allow Weyerhaeuser to focus on its core timber business.

Dive Insight:

For U.S. homebuilders, 2013 has been an eventful year in the mergers and acquisitions realm. Struggling to keep up with demand for new homes because of a shortage of developed land, many builders have found it easier to buy companies with access to land in key areas that is already developed—a much better option for some than waiting two to five years for raw land to be turned into lots.