Tree Frog Forestry News

Multifamily Builder and Developer Confidence Falls in First Quarter on COVID-19 Pandemic

By Carmel Ford
NAHB – Eye on Housing
May 21, 2020
Category: Finance & Economics
Region: United States

Confidence in the market for new multifamily housing weakened significantly in the first quarter of 2020, according to results from the NAHB. The Multifamily Production Index fell 22 points to 27, and the Multifamily Vacancy Index rose 19 points to 59, with higher numbers indicating more vacancies. The MPI reading is the lowest since the fourth quarter of 2009 while the MVI reading is the highest since that same quarter. This survey was conducted during the first part of April after the coronavirus pandemic hit. Historically, the MPI and MVI have performed well as leading indicators… on likely movement… one to three quarters in advance.

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