The Quikrete Industry Dashboard

While the National Association of Home Builders (NAHB) reported that builder confidence ticked upward in February, that wasn’t the case for housing starts.

The latest NAHB/Wells Fargo Housing Market Index (HMI) climbed four points to a reading of 48. This figure is the highest HMI reading since August 2023.

But the latest Monthly New Residential Construction Report saw total housing starts fall by 14.8% in January to a seasonally adjusted annual rate of 1.331 million from a revised December 2023 estimate of 1.562 million. Single-family starts declined by 4.7%.

Residential permits in January decreased by 1.5% to a seasonally adjusted annual rate of 1.470 million compared to the December 2023 rate of 1.493 million. 

In the meantime, gas prices are ascending.

The national average for a gallon of regular gas has reached $3.28 as of Feb. 16. A month ago, the price stood at $3.07.

Diesel fuel has hit an average national price of $4.12 from an average price of $3.93 on Jan. 16.

The most recent Advanced Monthly Retail Report from the U.S. Census Bureau indicated that monthly sales at building supply and lawn and garden dealers, NAICS 444, fell 6.4% on a year-over-year basis compared to January 2023.