The National Association of Home Builders (NAHB), reports builder’s confidence in the construction of new multifamily housing was unchanged in the fourth quarter of 2019. Production of new apartments has been strong for the past several months. Sentiment amongst multifamily developers would be higher, if not for emerging housing policies in certain parts of the country. The Multifamily Production Index (MPI) remained even at 49. 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 a number below 50 indicates that more respondents report conditions are getting worse than report conditions are improving.
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Multifamily Builder and Developer Confidence Unchanged in Fourth Quarter