Builder Confidence

Builder confidence in the market for new multifamily housing plummeted in the first quarter of 2020, according to a survey released Thursday by the National Association of Home Builders. The Mutlifamily Production Index – which measures builder and developer attitudes about the apartment and condo market – fell to 27, down 22 points from the previous quarter. The index is on a scale of 0 to 100, with a number below 50 indicating that more respondents believe conditions are getting worse than those reporting conditions are improving. The index is at its lowest level since the fourth quarter of 2009. “Like other sectors of the housing market, the multifamily market has been greatly affected by the effects of the pandemic,”…