News in end use

Mortgage loan application volume decreased 5.6% on a seasonally adjusted basis from one week earlier, the MBA reported.

As of December 2023, the US housing market gained $2.4 trillion in value over the last year, bringing its total value to $47.5 trillion, Redfin reported.

US real GDP increased at an annual rate of 3.2% in Q4, following an increase of 4.9% in Q3.

The Federal Housing Finance Agency House Price Index® increased 0.1% month-over-month in December (seasonally adjusted).

The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 5.5% in December, up from 5.1% in November.

The Conference Board Consumer Confidence Index® declined to a reading of 106.7 in February, down from January’s revised reading of 110.9.

New residential single-family home sales in January were at a SAAR of 661,000, 1.5% above the revised December 2023 rate.

With home building volumes lower, labor shortages have eased significantly since the record level set in 2021, according to the latest NAHB/Wells Fargo Housing Market Index.

The ESR Group expects existing-home sales and new single-family housing starts to modestly grow in 2024 amid lower mortgage rates and slowly strengthening homebuyer sentiment.

For the four-week period ending on February 18th, new home listings rose 10% year-over-year—the biggest increase in two months, Redfin reported.