Multifamily stock index hits all-time high

Investment returns rise for publicly traded firms

The stocks of publicly traded companies whose primary business is multifamily housing outpaced the market as a whole in June, pushing the National Association of Home Builders' Multifamily Stock Index (MFSI) to an all-time high. "The health of apartment company stocks on Wall Street is another sign of the overall strength of the housing market in this country," said Bobby Rayburn, NAHB president and a home and apartment builder from Jackson, Miss. "With the echo boom generation now moving into prime renting age and immigration levels expected to remain stable or even increase, the long-term outlook for multifamily housing looks very good indeed." NAHB's Multifamily Stock Index tracks the total returns (including capital gains and dividends) of 28 publicly traded firms principally involved in the ownership and management of apartments. During the month of June, the MFSI rose by 53 points, or almost 3 percent, to 1882. With this rise, the MFSI now stands at an all-time high, surpassing...