U.S. Department of Commerce

Survey of Market Absorption of Apartments (SOMA)



Third Quarter 2003

Table 5. Absorption Rates of Condominium and Cooperative Apartments:
         1997 to 2003
(Buildings with five units or more. Percents are computed using
unrounded data)
                     Total                         Percent
                     condominium                   of all
                        and                        units in
Quarter              cooperative                   buildings
of                   apartments       Standard     with 5 or      Standard
completion           completed           error*    more units        error*

2003
October-December
July-September
April-June\p           11,500             2,300         16            3.6
January-March        \r11,200             2,240         18            3.5

2002
October-December     \r12,100             1,580         17            2.3
July-September       \r11,300             1,500         13            1.6
April-June              8,000             2,090         11            2.7
January-March           6,100               760         11            1.6

2001
October-December       11,900             1,600         17            2.8
July-September         12,200             2,220         15            2.9
April-June             10,700             2,020         15            2.8
January-March          11,000             1,650         18            2.3

2000
October-December        9,900             1,510	        13            1.9
July-September          9,700             1,510         11            1.7
April-June              8,400             1,270         11            1.9
January-March           8,100             1,440         12            2.3

1999
October-December        9,200             1,990         12            2.6
July-September         10,500             2,840         12            3.1
April-June              8,500             1,210         12            1.7
January-March           6,000             1,150         10            2.1


1998
October-December       10,400             3,150         15            4.3
July-September          9,800             2,840         13            3.4
April-June              6,900               900         10            1.5
January-March           7,300             1,540         13            2.5

1997
October-December        9,800             2,290         13            3.1
July-September          7,400             1,560         11            2.5
April-June              9,200             1,690         16            3.0
January-March           9,500             2,540         19            4.3


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

2003
October-December
July-September
April-June\p              77                4.3        (NA)           (NA)
January-March           \r70                3.9         75            7.6

2002
October-December        \r67                5.5	        86            2.5
July-September            71                4.0         84            2.3
April-June                86                3.3         93            2.0
January-March             72                4.5         85            3.0

2001
October-December          73                4.2         85            3.8
July-September            73                4.4         81            4.3
April-June                72                6.7         82            4.6
January-March             74                3.4         90            2.3

2000
October-December          77                3.6         89            2.7
July-September            74                5.1         82            5.3
April-June                83                3.7         92            2.4
January-March             77                4.5         87            3.6

1999
October-December          78                2.6         89            1.6
July-September            65               11.9         76           10.6
April-June                76                3.3         88            2.6
January-March             87                2.0         94            1.3

1998
October-December          81                2.2         92            0.8
July-September            72               13.5         80           12.1
April-June                82                3.4	        92            1.7
January-March             81                4.6         91            1.9

1997
October-December          86                2.6         93            1.6
July-September            74                5.1         94            1.1
April-June                84                3.6         92            1.8
January-March             76                7.8         89            5.6


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

2003
October-December
July-September
April-June\p             (NA)               (NA)       (NA)           (NA)
January-March            (NA)               (NA)       (NA)           (NA)

2002
October-December          93                1.1        (NA)           (NA)
July-September            90                2.3         93            2.3
April-June                96                1.5         97            1.3
January-March             90                2.2         94            1.5

2001
October-December          90                3.6         91            3.6
July-September            88                3.8         93            2.5
April-June                90                2.5         94            2.2
January-March             94                2.0         96            1.4

2000
October-December          92                2.4         94            2.0
July-September            87                4.7         91            3.7
April-June                95                2.2         96            2.2
January-March             91                3.2         94            2.6

1999
October-December          95                1.1         98            0.5
July-September            83               11.8         84           12.0
April-June                92                1.9         96            1.0
January-March             97                1.0         98            0.8

1998
October-December          96                0.5	        98            (Z)
July-September            83               11.9         86           10.4
April-June                94                1.6         96            1.3
January-March             95                1.3         96            1.2

1997
October-December          96                0.9         97            0.6
July-September            97                0.7         98            0.5
April-June                94                1.5         97            0.8
January-March             93                4.4         94            4.0

* 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 1 percent.


Go to Detailed Tables for Third Quarter 2003 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