Privately financed apartments completed during the July- September 1977 quarter were absorbed after 3 months following completion at an estimated seasonally adjusted rate of 79 percent. This is about the same as the seasonally adjusted rate of 78 percent for apartments completed during the second quarter of 1977 (see table 3). The nonseasonally adjusted rate of 83 percent does not significantly differ from the seasonally adjusted rate. The median asking rent for these units was $234. Apartments which have been on the market for 9 months (those completed during January-March 1977) were 97 percent rented.