Recent economic data leads the National Association of Home Builders (NAHB) to suggest housing conditions may improve in the coming months.

Of late, though, the NAHB/Wells Fargo Housing Market Index (HMI) for October fell for the fourth consecutive month and is now at its lowest level since December 2022.

"While builder sentiment was down again in November, recent macroeconomic data point to improving conditions for home construction in the coming months," NAHB Chief Economist Robert Dietz said in prepared remarks.

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