Multifamily Construction Sentiment Reaches Highest Point in Seven Quarters

Multifamily construction sentiment has reached its highest mark in seven quarters in Q1 2021, according to results from the Multifamily Market Survey released by the National Association of Home Builders.

The Multifamily Production Index, which measures builder and developer sentiment about current conditions in the apartment and condo market on a scale of 0 to 100, rose eight points from Q4 2020 to 51 in Q1. NAHB says this is the first time the MPI has been over 50 in seven quarters. Meanwhile, the Multifamily Occupancy Index increased one point to 59. A number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse.