On February 25, 2021, National Association of Home Builders (NAHB) reported Multifamily Production Index (MPI) down five points to 43 points in the 4th quarter of 2020, from 48 points in the 3rd quarter of 2020; while, Multifamily Vacancy Index (MVI) declined two points to 42 points in the 4th quarter of 2020 from 40 points in the 3rd quarter of 2020.
The market rate rental properties dropped five points to 48 points; component measuring low rent units decreased four points to 42 points; and for sale units decreased seven points to 39 points; in the 4th quarter of 2020.
NAHB Chief Economist Robert Dietz, stated “Building material delays and increased costs, especially lumber, have become serious headwinds for builders and developers.”
For more complete detailed information about National Association of Home Builders’ Multifamily Production Index in the 4th quarter of 2020, please click HERE
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