The Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB), inched down two points to an index level of 52. It is the fifth straight quarter with a reading over 50.
The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.
The MPI provides a composite measure of three key elements of the multifamily housing market: construction of low-rent units, market-rate rental units and “for-sale” units, or condominiums.
Read more...Apartment and Condominium Market Remains Strong after Small Correction in the First Quarter of 2013 | Multi-Housing News Online
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