Housing, Multifamily On Steady Growth Track

WASHINGTON, DC-The housing industry received good news in the form of two separate reports from the National Association of Home Builders. In one, the Multifamily Production Index held steady with a score of 52, making it the third straight quarter with a reading over 50. In the other, NAHB reported that the number of housing markets considered to be “improving” has jumped by 76 to reach 201 in December.

The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. In the third quarter of 2012, the MPI component tracking builder and developer perceptions of market-rate rental properties reached a record score of 69. In addition it has been over 60 for five consecutive quarters, which is the longest sustained period of strength since the inception of the index in 2003. For-sale units had its highest reading since the fourth quarter of 2005, of 44, while low-rent units dropped 15 points to 46.