Tag Archive for ‘Apartment Completions’

Absorption Rate for Apartments Remained Stable in Q3 2019

Data from the U.S. Census Bureau’s Survey of Market Absorption (SOMA) show that the absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) remained essentially flat at 58 percent in the third quarter of 2019 (from 57 percent in the third quarter of 2018) (Figure 1). The number of apartments completed in… Read More ›

Apartment Absorption Shows Weakness

In the fourth quarter of 2018, 56,950 apartment units were completed, an 18 percent decline from the fourth quarter of 2017 (69,640) (Figure 1). Apartment completions in the fourth quarter of 2018 were at their lowest point since the fourth quarter of 2013. These data come from the US Census Bureau, in collaboration with the US Department of Housing and… Read More ›

Apartment Absorption Inches Up in the Second Quarter of 2018

The US Census Bureau’s Survey of Market Absorption (SOMA), which is produced in collaboration with the Department of Housing and Urban Development, recently released data from the second quarter of 2018. The data show that completions of unfurnished, unsubsidized rental apartments in buildings with five or more units totaled to 78,510, which is up by approximately 3 percent from the… Read More ›

Apartment Absorption Steady While Condominium Absorption Climbs

The U.S. Census Bureau produces the Survey of Market Absorption (SOMA), which tracks what happens to apartments in buildings with five or more units after they are completed. In the third quarter of 2017, 77,900 unfurnished, unsubsidized rental apartments were completed.  This is a 6 percent increase over units completed in the third quarter of 2016 (73,400 units) (FIGURE 1)…. Read More ›