Fall Regulatory Summit

Internal Use Only

NAHB: Housing Market Index

0 10 20 30 40 50 60 70 80 90 100

Jul-01

Jul-14

Oct-04

Oct-17

Jan-95

Apr-98

Jan-08

Apr-11

Jan-21

Feb-96

Mar-97

Jun-00

Feb-09

Mar-10

Jun-13

Feb-22

Mar-23

Sep-03

Dec-06

Sep-16

Dec-19

Nov-05

Nov-18

May-99

Aug-02

May-12

Aug-15

FALL REGULATORY SUMMIT Denver, CO – September 25, 2023

Internal Use Only Case Shiller: National Index (source: Standard & Poor’s Case-Shiller)

10% 15% 20% 25%

6M 12M

0% 5%

-20% -15% -10% -5%

Jul-19

Jul-08

Jan-14

Jan-03

Oct-16

Sep-17

Jun-20

Oct-05

Sep-06

Jun-09

Feb-13

Apr-22

Apr-11

Dec-14

Dec-03

Aug-18

Aug-07

Mar-23

Mar-12

Nov-15

Nov-04

May-21

May-10

(source: Standard & Poor’s Case-Shiller)

FALL REGULATORY SUMMIT Denver, CO – September 25, 2023