Eye On Housing
Data from the 2020 Census Bureau’s Survey of Construction (SOC) show that total multifamily units completed in 2020 increased by six percent to 375,000, the largest annual count of multifamily units completed in thirty years. The number of multifamily units completed were divided between 348,000 units built for-rent and 28,000 units built for-sale, increasing in both categories from the prior… Read More ›
For only the second year since the Great Recession, multifamily unit completions declined in 2018, according to NAHB analysis of the latest annual multifamily data from the Survey of Construction (SOC). As is typical, the number of multifamily units completed for rent exceeds the number of units completed for sale (92% rental share). In 2018, the number of units completed… Read More ›
The US Census Bureau recently released data on 2017 multifamily unit completions by building type from the Survey of Construction (SOC). In 2017, there was a significant expansion in the construction of units in large multifamily buildings (buildings with 50 or more units): units in these buildings grew by 18 percent to 187,000, the largest number since the start of… Read More ›
The US Census Bureau’s Survey of Market Absorption (SOMA), produced in collaboration with the Department of Housing and Urban Development, provides users with the opportunity to take a look at apartment completions and absorption rates on a quarterly basis. According to the SOMA, completions of unfurnished, unsubsidized apartments in buildings with five or more units totaled to 70,400 in the… Read More ›
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 ›
The Census Bureau recently released 2016 multifamily completions data from the Survey of Construction. A total of 159,000 housing units, or 49 percent of all multifamily completions, were in buildings with 50 or more units, more than any other building type (Figure 1). Multifamily completions in large buildings (50 or more units) grew significantly after the Great Recession, but growth… Read More ›
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 ›