News in end use

Total construction spending during January was estimated at a SAAR of $2,102.4, 0.2% below the revised December estimate of $2,105.8 billion.

Experts expect annual national home price growth to be 3.8% in 2024, the Fannie Mae Home Price Expectations Survey showed.

The Mortgage Bankers Association Purchase Applications Payment Index showed that homebuyer affordability declined in January.

In the four-week period ending February 25th, new listings of US homes for sale increased 13% year-over-year, Redfin reported.

The Index of Consumer Sentiment increased to a reading of 76.9 in February, down from 79.0 in January. This is a month-over-month decline of 2.7% but up 14.9% year-over-year (66.9 in February 2023).

Read GDP inched 0.2% higher in 2023Q4, following a 0.1% decline in Q3.

The National Association of Realtors Pending Homes Sales Index declined 4.9% month-over-month to a reading of 74.3.

Personal income increased 1.0% month-over-month in January; disposable personal income increased 0.3%; and personal consumption expenditures increased 0.2%.

The 30-year fixed-rate mortgage averaged 6.94%, up from last week when it averaged 6.90%, Freddie Mac reported.

The advance figure for seasonally adjusted initial unemployment claims was 215,000 during the week ending February 24th, an increase of 13,000 from the previous week.