According to the Multifamily Market Survey (MMS), organized by the National Association of Home Builders (NAHB), confidence is lowering in the multifamily housing market. Both indexes from the MMS fell in the second quarter of 2022, the Multifamily Production Index (MPI) fell to 42 points and the Multifamily Occupancy Index (MOI) dropped to a score of 60.

 

Sean Kelly, the chairman of the NAHB's Multifamily Council explained, "Overall, rental demand remains solid. Rising mortgage interest rates mean low vacancy in multifamily rental." The NAHB again points to inflation as one of the contributing factors to this decrease in demand from builders and encourages builders to exercise economic caution when constructing.

https://www.nahb.org/news-and-economics/press-releases/2022/08/multifamily-sector-shows-signs-of-caution-in-the-second-quarter