Multifamily Builder and Developer Confidence Remains Unchanged in Fourth Quarter
Confidence in the market for new multifamily housing remained unchanged in the fourth quarter of 2019, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) remained even at 49, while the Multifamily Vacancy Index (MVI) also remained even with a reading of 40.
The MPI measures builder and developer sentiment about current conditions in the apartment and condo market on a scale of 0 to 100. The index and all of its components are scaled so that a number below 50 indicates that more respondents report conditions are getting worse than report conditions are improving.