Investor Presentaiton

total housing sales are expected to stabilize to 2022 levels in 2024 ... Total Housing Sales in the U.S. (thousands) Association of Mortgage Fannie Mae Bankers Assoc. Home Builders Year Estimates Estimates Estimates 2021 6,891 6,896 6,189 2022 5,671 5,099 5,167 2023 4,915 4,990 4,524 2024 4,889 5,360 5,043 2023-2024 Change -0.5% 7.4% 11.5% W WISCONSIN SCHOOL OF BUSINESS UNIVERSITY OF WISCONSIN-MADISON TOGETHER FORWARD® JAMES A. GRAASKAMP CENTER for REAL ESTATE Sources: Urban Institute, "Housing Finance at a Glance," August 2023 and Graaskamp Center.

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