The National Association of Home Builders (NAHB) announced on the 18th that the Housing Market Index (HMI) for October rose by 2 points to 43, up from 41 in the previous month. The HMI reflects the confidence level of builders in the market for newly constructed single-family homes. However, the index still remained below 50 in October. A reading of 50 serves as the benchmark for gauging whether the housing market is improving or deteriorating. A score below 50 indicates worsening conditions, while a score above 50 suggests improvement.

[Reuters]