WASHINGTON – May 30, 2017 – The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), dropped seven points to 48 in the first quarter of 2017.
The MPI has not had a reading of under 50 since the fourth quarter of 2011.
The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market, and the scale runs from 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report that conditions are improving; a number below 50 suggests that 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. All three components decreased in the first quarter: low-rent units dropped six points tRead More