WASHINGTON -- The National Association of Home Builders (NAHB), a trade association representing more than 235,000 members, announced Jan. 25 that its Multifamily Stock Index (MFSI) dipped again in December. The December numbers released today dropped 111 points, about 3%, from the November MFSI to an index value of 3,521.

The MFSI tracks the stocks of 23 publicly traded firms, including 20 Real Estate Investment Trusts (REITs), principally involved in owning, developing and managing multifamily housing.

Despite the drop, the MFSI is still 35 points higher than it was a year ago, indicating that investor confidence is still quite strong in the multifamily housing market. The rental sector, in particular, seems to be gaining strength in most markets across the country, according to the NAHB.

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