The level of demand and vacancy rates for multifamily housing have kept builder and developer confidence in the market positive in the first quarter, according to the Multifamily Production Index (MPI) and the Multifamily Vacancy Index (MVI) released by the National Association of Home Builders (NAHB).
The MPI, which measures builder and developer sentiment about current conditions in the apartment and condo market, was unchanged from the previous quarter at 53 on a scale of 0 to 100. The MVI, which measures the multifamily housing industry’s perception of vacancies, remained essentially unchanged with an increase of one point to 42, which is seen as healthy for the multifamily market.
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