U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



First Quarter 1998

Table 5. Absorption Rates of Condominium and Cooperative Apartments:
         1991 to 1997
(Buildings with five units or more.)

                         Total               Percent
                   condominium                of all
                           and              units in
     Quarter       cooperative             buildings
        of         apartments   Standard   with 5 or  Standard
    completion       completed    error*  more units    error*

             1997
October-December\p      9,700     2,350          13       3.1
July-September        \r7,400     1,560          11       2.5
April-June              9,200     1,690          16       3.0
January-March           9,500     2,540          19       4.3

             1996
October-December       14,200     4,020          23       6.4
July-September         10,600     1,540          15       2.1
April-June              6,400       850          10       1.7
January-March           5,600       840          11       1.8

       1995
October-December        9,400     1,790          16       3.1
July-September         10,100     1,290          16       2.0
April-June              9,600     1,750          19       3.3
January-March           7,200     1,190          20       3.3

       1994
October-December        8,200     1,460          17       3.4
July-September          8,300     1,110          18       3.2
April-June              9,200     1,970          25       5.4
January-March           8,800     1,450          36       4.6

       1993
October-December        9,500     1,410          30       4.8
July-September          7,000       870          21       4.0
April-June              8,500     1,140          27       4.2
January-March           7,000     1,140          25       4.3

       1992
October-December        7,900     1,170          19       3.0
July-September          8,200     1,280          19       3.1
April-June              7,200     2,120          19       5.5
January-March           7,800       950          24       3.1

       1991
October-December        7,900       940          21       3.1
July-September          9,900     1,050          16       3.0
April-June              9,800     1,180          16       2.6
January-March           7,700     1,200          14       2.3


                              Percent absorbed within-
     Quarter            3 months               6 months
        of                      Standard              Standard
    completion        Percent     error*     Percent    error*


             1997
October-December\p         86       2.6        (NA)      (NA)
July-September             74       5.1          94       1.1
April-June                 84       3.6          92       1.8
January-March              76       7.8          89       5.6

             1996
October-December           90       2.8          95       1.7
July-September             71       3.4          83       2.4
April-June                 80       4.6          92       1.3
January-March              76       2.3          88       1.4

       1995
October-December           83       3.0          90       2.2
July-September             77       4.4          87       2.7
April-June                 69       4.9          79       6.4
January-March              66       9.1          76       9.0

       1994
October-December           73       4.5          86       2.8
July-September             72       2.7          83       5.7
April-June                 79       2.9          88       2.4
January-March              82       3.2          89       2.2

       1993
October-December           83       2.9          92       1.4
July-September             68       7.5          75       6.3
April-June                 76       2.4          85       2.4
January-March              76       2.6          86       2.4

       1992
October-December           71       1.8          83       1.6
July-September             71       2.8          85       1.9
April-June                 69       5.5          82       3.5
January-March              64       2.4          74       2.0

       1991
October-December           65       3.3          79       2.2
July-September             59       4.1          72       2.3
April-June                 55       5.7          74       5.2
January-March              62       3.7          73       4.2


                              Percent absorbed within-
     Quarter            9 months               12 months
        of                      Standard              Standard
    completion        Percent     error*     Percent    error*

       1997
October-December\p        (NA)      (NA)       (NA)        (NA)
July-September            (NA)      (NA)       (NA)        (NA)
April-June                 94       1.5        (NA)        (NA)
January-March              93       4.4          94         4.0

       1996
October-December           96       1.3          99       (Z)
July-September             92       1.6          95       0.7
April-June                 95       1.0          96       0.9
January-March              92       1.2          94       0.9

       1995
October-December           93       1.7          94       1.6
July-September             92       2.3          96       0.9
April-June                 87       4.9          90       4.7
January-March              82       9.7          86      10.0

       1994
October-December           91       2.3          94       2.1
July-September             88       5.3          90       4.9
April-June                 92       2.4          94       1.5
January-March              92       1.4          94       0.9

       1993
October-December           95       0.9          97       0.7
July-September             81       6.8          85       7.0
April-June                 89       2.0          93       0.9
January-March              93       1.3          95       1.0

       1992
October-December           90       1.1          93       1.0
July-September             91       1.2          93       1.1
April-June                 87       3.3          89       2.6
January-March              80       2.1          84       1.8

       1991
October-December           85       1.6          89       1.7
July-September             78       1.9          85       1.4
April-June                 80       2.8          84       2.7
January-March              80       4.9          88       3.0


* One standard error (68-percent confidence interval)
NA Not available.  p Preliminary.  r Revised.
Z Fewer than 50 units or less than one-half of one percent.



Go to Detailed Tables for First Quarter 1998 Absorptions
Contact George Boyd at 301-763-3199 or mail to george.t.boyd@census.gov for further information on the Survey of Market Absorption of Apartments Data.

Source: U.S. Census Bureau, Social, Economic, and Housing Statistics Division
Last Revised: September 30, 2011