Multifamily Production Index improves.

The Multifamily Production Index (MPI), a leading indicator for the multifamily market released by the National Association of Home Builders (NAHB) today, recorded its highest reading since the third quarter of 2005 with an index level of 51. This is the seventh consecutive quarter that the index has increased. The MPI provides a composite measure of three key elements of the multifamily housing market: construction of low-rent units, market-rate rental units and “for-sale" units, or condominiums.