News in end use

The Associated Builders and Contractors Construction Backlog Indicator declined to 8.1 months in February, down from 8.4 months in January.

The 30-year fixed-rate mortgage averaged 6.74%, down from last week when it averaged 6.88%, Freddie Mac reported.

The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.6% in February. This follows a 0.3% increase in January.

The advance figure for seasonally adjusted initial unemployment claims was 209,000 during the week ending March 9th, a decrease of 1,000 from last week.

Mortgage loan application volume increased 7.1% on a seasonally adjusted basis from one week earlier, the MBA reported.

The Freddie Mac Multifamily Apartment Investment Market Index® decreased in Q4 but increased over the full year.

32 states saw month-over-month employment gains in January, 17 lost construction sector jobs, and 2 were unchanged, the BLS and NAHB reported.

The Consumer Price Index for All Urban Consumers increased 0.4% in February on as seasonally adjusted basis, after rising 0.3% in January.

The median US asking rent increased 2.2% year-over-year to $1,981 in February, the largest gain reported since January 2023, Redfin reported.

The NFIB Small Business Optimism Index declined to a reading of 89.4, marking the 26th consecutive month below the 49-year average of 98.