News in end use

Existing-home sales increased 4.2% to a seasonally adjusted annual rate of 4.26 million in February, NAR reported.

The 30-year fixed-rate mortgage averaged 6.67%, up from last week when it averaged 6.65%, Freddie Mac reported.

The Conference Board Leading Economic Index declined 0.3% to a reading of 101.1 in February, after a revised decline of 0.2% in January.

The advance figure for seasonally adjusted initial unemployment claims was 223,000, an increase of 2,000 from the previous week’s revised total.

Mortgage loan application volume decreased 6.2% on a seasonally adjusted basis from one week earlier, MBA reported.

The number of renter households in America increased 0.8% year-over-year to 45.4 million in Q4, the slowest growth since 2023Q1, Redfin reported.

Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,501,000, 11.2% above the revised January estimate.

The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada decreased 4% in February to 229,030 units, CMHC reported.

US home prices grew 0.4% in February on a seasonally adjusted basis, the slowest pace since July 2024, Redfin reported.

Overall, the construction industry added a net 2,000 jobs in January, the BLS and NAHB reported. Employment increased in 23 states.