NAHB: Apartment and Condominium Market Remains Steady in Third Quarter:
December 6, 2012 - The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB) today, remained steady with an index level of 52. It is the third straight quarter with a reading over 50.
The MPI, which measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100, was essentially unchanged in the third quarter, only dropping two points from 54 in the second quarter.
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There are positive signs in some places. Here in the Chicago area things are still stalled. Some blame that on the slow pace of foreclosure cases, but I think a number of factors are involved.
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