On November 21, 2017, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reported about the Multifamily Production Index (MPI) gained ten points to 46 points in the 3rd quarter of 2017.
The MPI component low-rent units up one point to 54 points, the market rate rental units decreased seventeen point to 43 points, the for sale units declined seventeen points to 40 points, and multifamily vacancy index (MVI) increased three points to 41 points in the 3rd quarter of 2017.
NAHB Chief Economist Robert Dietz, stated “Multifamily production had been quite strong, although it slowed down in the past three months,” “And with approximately 600,000 units in the pipeline, builders and developers are taking a cautious approach until they see how the market absorbs these units when they come online.”
For complete more detailed information about NAHB Builder Confidence Index for 3rd quarter of 2017, please click HERE
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