Tag Archive for ‘condominiums’

Home Building Shows Ongoing Growth in Second Home Counties

Per the latest results of NAHB’s Home Building Geography Index, in the third quarter of 2021, both single-family and multifamily home building showed gains in second home counties. This marked a  reversal for multifamily after weakness last year. Second home counties are defined by NAHB as those having a high proportion of housing units that are not their owners’ primary… Read More ›

Smaller Multifamily Buildings Gain Market Share in 2019

Data from the 2019 Census Bureau Survey of Construction (SOC) show a gain for the number of multifamily units built in smaller properties, reversing a trend that favored larger buildings over recent years. The SOC differentiates between a “building” and a “unit”, with “unit” defined as an apartment, a group of rooms, or a single room intended for occupancy as… Read More ›

Apartment and Condominium Absorption Increased in Q2 2017

The Census Bureau, in collaboration with the Department of Housing and Urban Development (HUD), produces the Survey of Market Absorption (SOMA), which tracks apartment and condominium completions, absorption rates (the share of apartments/condos rented or purchased within the first 3 months after completion), and asking rent prices. In the second quarter of 2017, completions of unfurnished, unsubsidized, privately financed apartments… Read More ›

Apartment and Condominium Absorption Rates Drop

According to the most recent release of the Survey of Market Absorption (SOMA), produced by the US Census Bureau in collaboration with the US Department of Housing and Urban Development, completions of nonsubsidized, unfurnished, rental apartments in buildings with 5 or more units totaled to 73,300 in the fourth quarter of 2016, about 9 percent higher than completions in the… Read More ›

Rental Apartment Absorption Flat While Condominium Absorption Jumps

The US Census Bureau, in collaboration with the US Department of Housing and Urban Development, releases data on completions and absorption rates for multifamily buildings with at least 5 apartments. The most recent release shows that completions of nonsubsidized, unfurnished, rental apartments amounted to 73,800 in the third quarter of 2016. This is 11,700 more than the second quarter of 2016, but… Read More ›

Absorption Data Indicate Multifamily Market Leveling Off

The US Census Bureau recently released data on multifamily completions and absorption rates from the second quarter of 2016. Completions of privately financed, unfurnished, unsubsidized apartments in buildings with five or more units totaled to 62,600, which is approximately 5,000 fewer than completions in the second quarter of 2015 (Figure 1). Examining Figure 1 further indicates a leveling off of multifamily… Read More ›

Apartment Construction Continues to Improve

Completions of unfurnished apartments for rent or sale in 5+ unit properties climbed to more than 30,000 units during the third quarter of 2012, a 20% increase versus the third quarter of 2011. The Survey of Market Absorption of Apartments (SOMA) tracks completions and market absorption rates (units rented or sold after construction of the property is complete) for apartments sold or… Read More ›