Multifamily Developer Confidence Increases in Second Quarter
Indices from the National Association of Home Builders’ Multifamily Market Survey (MMS) has increased confidence among multifamily developers as both the Multifamily Production Index and Multifamily Occupancy Index rose year-over-year. The indices measure builder and developer sentiments towards production and occupancy of the multifamily housing market, including apartments and condos. As of now, results are evaluated on a year-over-year basis, with current measurements slightly up from this time last year.
According to NAHB Chief Economist Dr. Robert Dietz, “Multifamily starts are still facing headwinds like higher interest rates and construction costs, but are becoming less constrained by the number of apartments under construction, which is falling back toward more historically normal levels.”
