Current Housing Reports: Market Absorption of Apartments: Fourth Quarter 1995-211 Absorptions (Completions in Third Quarter 1995)

摘要

An estimated total of 65,300 apartments were completed in buildings with five211u001eunits or more in the third quarter of 1995. This estimate is significantly higher 211u001e(+ or = 5,970) than the 51,200 apartments completed in the second quarter of 211u001e1995, and is also higher (+ or = 5,270) than the 45,400 apartments completed in 211u001ethe same quarter of last year (table 11). Approximately 48,200 units, that is, 74 211u001epercent of all completions, were privately financed, nonsubsidized, unfurnished, 211u001erental apartments. As was true for the total new completions, this 48,200 211u001eestimate is higher (+ or = 5,280) than the revised 36,000 unfurnished units 211u001ecompleted in the second quarter and higher (+ or = 5,490) than the 29,500 211u001ecompletions in the third quarter of 1994. An estimated 72 percent of the newly 211u001ecompleted apartments were absorbed (seasonally adjusted) 3 months after their 211u001ecompletion (table 1). The not-seasonally-adjusted 3-month absorption rate for the 211u001e48,200 apartments completed in the third quarter was 76 percent, not 211u001esignificantly different from the revised 77-percent rate last quarter but lower 211u001e(+ or = 5 percent) than the 86-percent rate for completions in the same (third) 211u001equarter last year. The Survey of Market Absorption is designed to provide data 211u001econcerning the rate at which nonsubsidized and unfurnished privately financed 211u001eunits in buildings with five units or more rented (or absorbed).