GS HOUSING MARKET ACTIVITY SCALE: Week of June 7: Scale Up 2% Sequentially Led by Purchase Applications and Sales

Research evidence excerpt

GS HOUSING MARKET ACTIVITY SCALE: Week of June 7: Scale Up 2% Sequentially Led by Purchase Applications and Sales

Equity Research

16 June 2026 | 12:01AM EDT

GS HOUSING MARKET ACTIVITY SCALE

Week of June 7: Scale Up 2% Sequentially Led by Purchase Applications

and Sales

Improvement in Purchase Susan+1(212)357-3906Maklari|Exhibit 1: GS Housing Activity Weekly Scale

Applications and Sales Offset Higher susan.maklari@gs.comGoldman Sachs & Co. LLCHolds at 4

Week of 06/07/26 Rates: For the week of June 7, the index Charles Perron-Piche, CFA

rose 2% sequentially and 5% YOY, +1(917)343-1847 | charles.perron-

piche@gs.com

bringing it 15% below the long-term Goldman Sachs & Co. LLC

average. Results were led by a 7% Rhea Bhatia

+1(332)245-7517 | rhea.bhatia@gs.com

increase in purchase applications along Goldman Sachs India SPL

with home sales up 3%. These gains Galilee Best

were partially offset by a slowdown in +1(212)902-7208Goldman Sachs & Co.| galilee.best@gs.comLLC

price appreciation along with a 1%

move in active listings and homes off

market in the last two weeks while

Source: Goldman Sachs Global Investment Research mortgage rates rose 4bps to 6.52%. The

recent volatility in readings is consistent with our channel checks and builder results

that show a moderation in sales into the summer despite overall pent-up demand for

housing. This is led by the entry-level while higher-end consumers are relatively more

resilient. Given the set-up, we are focused on names with company-specific

initiatives, including the potential for capital allocation, and highlight Buy-rated IBP.

Should conditions for the builders improve, we see the greatest upside to MTH and

DHI given their exposure to the entry-level along with a disciplined approach to

balancing margins and uses of cash.