WASHINGTON, April 7, 2016 /PRNewswire-USNewswire/ -- The 2015 Survey of Market Absorption of New Multifamily Units annual report provides absorption details for units constructed in 2014. The Survey of Market Absorption of New Multifamily Units is conducted by the U.S. Census Bureau on behalf of the Department of Housing and Urban Development. This survey measures how soon privately financed, nonsubsidized, unfurnished units in buildings with five or more units are rented or sold (absorbed) after completion. In addition, it collects data on characteristics such as number of bedrooms, asking rent and asking price.
The estimates in this report are based on responses from a sample of the population. Estimates vary from actual values because of sampling variation or other factors. All comparisons made in this report have undergone statistical testing and are significant at the 90 percent confidence level.
In addition to the annual report, the Survey of Market Absorption produces quarterly reports that will be available in June, September and December starting with absorptions in the first quarter of 2016. Additionally, statistics on absorption rates for selected metropolitan areas are also released on the Internet at the same time. For more information, please visit http://www.census.gov/housing/soma/.
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SOURCE U.S. Census Bureau