Privately financed apartments completed during the July- September 1976 quarter were absorbed after 3 months following completion at an estimated seasonally adjusted rate of 77 percent During this same period last year, the seasonally adjusted rate was 69 percent See Table 3. The nonseasonally adjusted rate was 83 percent and the median asking rent was $222 for these units. Apartments which have been on the market for 9 months (those completed during January-March 1976) were 96 percent rented.