Tag Archive for ‘survey of market 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 ›

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 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 ›

Apartment Absorptions Remain Strong as Completions Rise

The rental apartment market continued to be strong during the third quarter of 2015, as multifamily production expanded. According to NAHB analysis of the most recent data from the Census Bureau and Department of Housing and Urban Development Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments in buildings with five or more units totaled 298,500 residences for… Read More ›

Apartment Absorption Rates Remain High

Absorption rates for new rental and for-sale multifamily homes remained near post-recession highs in the fourth quarter of 2013. According to data from the Survey of Market Absorption of Apartments (SOMA), completions of privately financed, unsubsidized, unfurnished rental apartments in buildings with five or more units were up strongly for the four quarter period ending with the third quarter of 2013. A total… Read More ›

Rental Market Continues to Strengthen

The most recent data from the Survey of Market Absorption of Apartments (SOMA) showed that completions of privately financed, nonsubsidized, unfurnished rental apartments continued to climb in the fourth quarter of 2012. The reported 31,600 completions in buildings with 5+ units were slightly above the third quarter level and more than doubled since the fourth quarter of 2011. At the… 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 ›