The King James Version's and the New King James Version's wording is a bit awkward for our modern ears unless we carefully follow Paul's line of thought from the beginning of the chapter. Isaiah, whom Paul quotes, is saying the faith exists when people hear the message, believe it, and then obey it. Three modern versions help to clarify this:
The Revised English Bible: "So then faith does come from hearing, and hearing through the word of Christ." This helps to show that this verse is a concluding statement, an appeal to believe the facts and the logical reasoning that preceded it.
The New Testament in Modern English, better known as the "Phillips' Translation": "Belief, you see, can only come from hearing the message, and the message is the word of Christ." (Emphasis ours throughout.)
Moffat: "You see, faith must come from what is heard, and what is heard comes from the word of Christ."
Biblical faith, a very specific faith, comes from a person knowing, believing, and using what God says in His Word strongly enough to make it a constant part of his life.
Of concern to this faith is where is the information that is entering our minds and guiding our conduct coming from? Never has mankind lived in a time when powerful and frequent communication is so easily available and seemingly limitless in quantity. Radio, television, the Internet, movies, cell phones, iPads, etc., pound our eyes and ears almost incessantly. Perhaps the most powerful influence is the general attitude of the people and the events in which our lives are immersed within the culture. Few people in the world seriously care any longer about what God says in His Word. This can subtly and silently affect our attitudes and conduct in daily life.
Are we living our lives by the faith? Those who have some respect for God are overwhelmed in our culture's civic life, thus public reference to God has been removed from schools, courts, universities, and governments. The secularism of mankind dominates. The result is abortion, homosexuality, lesbianism, and same-sex marriage as acceptable practices. Thus, it may appear even to those who do care as though Satan has overwhelmed God and is dominating life on earth. We must understand that those not living by the faith set the world's spirit, fashions, novels, movie themes, and music in this culture. We must resist being drawn in.