Last week's housing data showed signs of stabilization after an effective two-month pause for major portions of the economy, according to National Association of Home Builders (NAHB) chief economist Rob Dietz. Dietz wrote on NAHB Now that hints of rebound are present in the data despite most indicators being down year-over-year, provided businesses can continue to reopen. Additionally, the continuation of momentum recently gained in housing markets is dependent on the labor market, according to Dietz.

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