"The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose two points month over month to a reading of 43 in October, marking the second consecutive month of increases in builder sentiment after three straight months of decline. While builders are feeling more optimistic about the 2025 market conditions, challenges remain around consumer affordability, which is evident from the steady 32% of builders cutting prices. This indicates a cautious optimism in the face of ongoing economic pressures."
"Carl Harris, a NAHB chairman, highlighted that despite the rising builder sentiment, the affordability challenges continue to be significant for consumers, as reflected in the rising average price reduction to 6%. While the optimism is rising, the housing market still has major hurdles to overcome, not least of which is whether policy changes in upcoming elections will address the supply-side issues that contribute to the ongoing housing crisis. The upcoming election makes housing policy a pivotal issue for candidates."
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