The Multifamily Production Index (MPI), a leading indicator for the multifamily market released by the National Association of Home Builders (NAHB) Thursday, showed steady improvement in the apartment and condominium housing market for a sixth consecutive quarter.
The MPI measures builder and developer sentiment about current conditions in the multifamily market on a scale of 0 to 100. It increased from 47.3 in the third quarter to 48.9 in the fourth quarter – the highest reading since the fourth quarter of 2005.
