Current Housing Reports: Market Absorption of Apartments: Annual 1999 Absorptions(Apartments Completed in 1998)

摘要

During 1998, a total of 209,900 privately financed, nonsubsidized, unfurnished,rental apartments in buildings of five units or more were completed in permit issuing areas in the United States. This number is about 11 percent greater than completions of similar units in 1997 and was the largest number of unfurnished rental apartments built since 1990, when 214,300 were constructed. Seventy-two pecent of the unfurnished rental apartments built in the U.S. in 1998 were absorbed (rented) within the first 3 months of completion, 89 percent within 6 months, 95 percent within 9 months, and 98 percent were rented within a year of completion. The South, with 55 percent of rental completions. The Survey of Market Absorption (SOMA) measures how soon privately financed, nonsubsidized, unfurnished units in buildings with five or more units are rented or sold (absorbed) after completion.