News in end use

The prices of goods used in residential construction, less energy, increased for the fourth consecutive month in February, the BLS and NAHB reported.

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.