Multifamily Construction Ends Q3 on a Low

The outlook for multifamily construction closed the third quarter on a low note, as confidence in the market for new multifamily housing declined significantly during the period, according to the National Association of Home Builders’ (NAHB) Multifamily Market Survey (MMS).

The MMS’s two separate indices saw mixed results. The Multifamily Production Index (MPI) fell 10 points from the previous quarter to 32, while the Multifamily Occupancy Index (MOI) dropped 15 points to a reading of 45.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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