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.
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.