Fourth Quarter Indices Show Continued Improvement for Apartment and Condominium Market
The Multifamily Production Index (MPI), released today by the National Association of Home Builders (NAHB), increased two points to a level of 54. It is the fourth 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.