The Multifamily Production Index (MPI), which measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100, improved for the eighth consecutive quarter with an index level of 54. It is the highest reading since the second quarter of 2005.
The Multifamily Vacancy Index (MVI), which measures the multifamily housing industry's perception of vacancies, increased five points to 36, bringing it back approximately to the level it sustained throughout 2011.
