Apartment and condominium market shows continued improvement in second quarter

The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB) today, improved for the eighth consecutive quarter with an index level of 54. It is the highest reading since the second quarter of 2005.

The MPI, which measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100, rose from 51 in the first quarter to 54 in the second quarter.