Absorption of New Multifamily Units Rises as Completions Near 100K in Second Quarter of 2023 | Eye On Housing

Econ & Housing

By Jesse Wade on November 28, 2023 • The most recent release of the Census Bureaus’ Survey of Market Absorption of New Multifamily Units (SOMA) reported that of the 99,290 unfurnished, unsubsidized apartments completed in the second quarter of 2023, 65% were absorbed into the market in the first three months following completion. 83% of…

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