The apartment and condominium market continued to gain momentum in the second quarter with builders’ and developers’ confidence in the sector soaring to an all-time high, according to the National Association of Home Builders’ multifamily index. The index rose to its highest reading since 2003, which is the year the index began.
The index measures builder and developer sentiment in the apartment and condo market. The latest reading for the second quarter was 61. Any number above 50 indicates that more respondents report conditions are improving than getting worse.