According to a recent reading of the Multifamily Production Index (MPI) of the National Association of Home Builders (NAHB), apartments’ and condos’ construction was on the rise in the first quarter of 2014.
For nine quarters in a row the index has been above 50, and for the beginning of this year it’s set at 53.
The MPI follows the opinion of construction and development companies about the market of apartments and condos. Its scale is from 0 to 100, so values above 50 mean that more companies have a positive outlook on the market conditions than those who are pessimistic.
In the same time, the Multifamily Vacancy Index (MVI) decreased by one point to 37. It measures the perception of vacancies that construction companies in the multifamily housing industry have.