Multifamily housing market still fragile, but strengthening

The National Association of Home Builders’ quarterly Multifamily Production Index (MPI) recorded its third consecutive quarterly increase in the first three months of 2011.
The MPI increased to 41.7 in the first quarter of 2011. However, those who feel the market is still getting worse outnumber those who feel conditions are improving.

June 15, 2011
multfamily, housing market, home owner, homeowner, multifamily production index

The National Association of Home Builders’ quarterly Multifamily Production Index (MPI) recorded its third consecutive quarterly increase in the first three months of 2011.

The MPI tracks multifamily housing industry sentiment about the strength of the market on a scale of 0 to 100. The index provides a composite measure of three key elements of the multifamily housing market: construction of low-rent units, construction of market-rate-rent units, and construction of “for sale” units. The index and all of its components are scaled so that any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

The MPI increased to 41.7 in the first quarter of 2011. However, those who feel the market is still getting worse outnumber those who feel conditions are improving.

For more information: www.greenindustrypros.com/news/10282103/fragile-multifamily-housing-market-strengthening

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