U.S. Multifamily Developer Confidence Weakens in Q3

The National Association of Home Builders is reporting this week that their latest Multifamily Production Index dropped 10 points to 46 in the third quarter of 2017. This is the lowest reading since the second quarter of 2011.

The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

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