Multifamily Production Index Remains Positive
Washington, DC, Sept. 2, 2014 -- The Multifamily Production Index, an indicator for the multifamily market released by the National Association of Home Builders, posted a gain of five points to a reading of 58 for the second quarter.
It is the 10th straight quarter with a reading of 50 or above.
The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. Any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.
“We have seen steady growth for the apartment market since 2011,” said W. Dean Henry, chairman of NAHB's Multifamily Leadership Board.
“There will continue to be strong demand for the foreseeable future, but the availability of construction labor is still proving to be a challenge.”