GS HOUSING MARKET ACTIVITY SCALE: Week of June 28: Scale Up 1% Sequentially Led by Purchase Applications and Home Prices

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GS HOUSING MARKET ACTIVITY SCALE: Week of June 28: Scale Up 1% Sequentially Led by Purchase Applications and Home Prices

Equity Research

7 July 2026 | 12:01AM EDT

GS HOUSING MARKET ACTIVITY SCALE

Week of June 28: Scale Up 1% Sequentially Led by Purchase

Applications and Home Prices

Improving Purchase Apps and Prices Susan+1(212)357-3906Maklari|Exhibit 1: GS Housing Activity Weekly Scale

Along With Lower Rates Drive Scale susan.maklari@gs.comGoldman Sachs & Co. LLCHolds at 4

Week of 06/28/26 Higher: For the week of June 28, the Charles Perron-Piche, CFA

index was up 1% sequentially and 7% +1(917)343-1847 | charles.perron-

piche@gs.com

YOY, putting it 16% below the Goldman Sachs & Co. LLC

long-term average. Results were led by Rhea Bhatia

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

a 1% increase in purchase applications Goldman Sachs India SPL

and median sale price along with a 1pt Galilee Best

recovery in the median new listing price +1(212)902-7208Goldman Sachs & Co.| galilee.best@gs.comLLC

while mortgage rates declined 6bps to

6.43%. This sequential improvement

comes as our channel checks suggest a

Source: Goldman Sachs Global Investment Research modest recent improvement in activity,

though we will continue to monitor conditions for evidence of sustainability. 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.

How it Works: In developing the scale, we went back over 50 years of data to

determine averages, outliers, and differing operating environments. As such, a