The U.S. Census Bureau’s Survey of Market Absorption (SOMA) shows that the absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) fell by 5 percentage points to 51 percent in the third quarter of 2020 (from 56 percent in the third quarter of 2019) (Figure 1). The number of apartments completed rose… Read More ›
Tag Archive for ‘Condominium Absorption’
Apartment Absorption Steady but Rent Prices Fall
The U.S. Census Bureau’s Survey of Market Absorption (SOMA) shows that the absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) inched up to 60 percent in the second quarter of 2020 (from 55 percent in the second quarter of 2019) (Figure 1). Meanwhile, the number of apartments completed fell slightly, from… Read More ›
COVID-19 Impacts Apartment and Condominium Absorption Rates
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) fell to 45 percent in the first quarter of 2020 (from 53 percent in the first quarter of 2019) (Figure 1).This is the lowest absorption rate on record for… Read More ›
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 ›
Absorption Rate Up Slightly for Apartments in Second Quarter
New 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) rose two percentage points to 58 percent in the second quarter of 2019 (from the second quarter of 2018) (Figure 1). The number of apartments completed in the… 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 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 ›