Homebuilders and Building Products: Weekly punch list: Housing Symposium and DHI takeaways; M&A momentum building

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Homebuilders and Building Products: Weekly punch list: Housing Symposium and DHI takeaways; M&A momentum building

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Homebuilders and Building Products

Weekly punch list: Housing Symposium and

DHI takeaways; M&A momentum building

Industry Overview

Housing Symposium: affordability still the story 07 June 2026

Our 2026 Housing Symposium (see note: Housing Symposium: What did we learn?)

Equityreinforced a consistent message across builders, suppliers and macro participants:

United Stateshousing demand remains constrained by affordability and consumer confidence, but is Homebuilders and Building Products

generally tracking in line with tempered expectations. Demand trends remain choppy and

increasingly K-shaped, with higher-income buyers proving more resilient while entry- Rafe Jadrosich

level cohorts continue to face pressure from elevated monthly payments. Regionally, the ResearchBofAS Analyst

Midwest and more affordable markets are outperforming, while the Sunbelt remains +1 646 855 5815

rafe.jadrosich@bofa.com

softer with Texas still challenged. Builders continue to rely on incentives, especially rate

Shaun Calnan, CFA

buydowns, to drive absorption, highlighting the trade-off between pace and price. Research Analyst

Mortgage rates are expected to remain in the mid-6% range near term, limiting a BofAS

+1 646 855 1362

meaningful affordability reset, while home prices are soft but showing signs of shaun.calnan@bofa.com

stabilization across most markets. Victoria Piskarev

DHI fireside chat: steady demand and incentives ResearchBofAS Analyst

+1 646 855 0657

Takeaways from our D.R. Horton (DHI) fireside chat pointed to a stable but incentive- victoria.piskarev@bofa.com

driven demand environment. Sales trends are tracking in line with normal seasonality,