Homebuilding - Weekly Coverage Update 6.8.2026

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Homebuilding - Weekly Coverage Update 6.8.2026

Truist Securities

Equity Research Report June 8, 2026

INDUSTRIALS: Homebuilding

Homebuilding - Weekly Coverage Update

6.8.2026 Jonathan Bettenhausen The Weekly Update note provides a quick recap of the prior week in the Homebuilding

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Jonathan.Bettenhausen@truist.com sector, as well as a look forward at key dates in the weeks ahead.

14 Page Document Recap From Last Week: Last week, our coverage outperformed the S&P 500, returning

4.3% compared to the -2.6% from the index. By far the biggest news of the week was

Berkshire Hathaway's (BRK.B, NR) agreement to buy Taylor Morrison (TMHC, Hold) for

Reasons for this report $72.50/share. TMHC was up 22.3% last week on the news and our top performer. Note

that we downgraded this stock to Hold from Buy last week given that it now trades near

✓ Sector Update the deal price. D.R. Horton (DHI, Hold) was the worst performer, down 1.0%. We discuss

✓ Weekly Preview and Recap this and acquisition read through to the rest of the group in our note linked below.

• TMHC - Company Announces Agreement To Be Purchased By Berkshire Hathaway

• TMHC - Downgrade To Hold Following Deal Announcement

• Homebuilding - YTD Review and 2H Outlook; Deal Headlines And Hope Trade Are

Key Wild Cards

A Note on Rates: Probability of Cuts Shrink. Rates on the 10yr surged late last week

and the 6m and 1yr T-Bill yields are now above the upper end of the Fed target range.

It seems to us like the narrative on rate cuts has completely turned to now being more

likely that we actually see hikes in the back half of the year. T-Bill rates back up this

narrative. Note that we also saw an MBS sell off late last week, which was not reflected

in the PMMS mortgage rate numbers.