Apartment absorption remains high while new unit construction picks up according to the SOMA report.

The NAHB (National Association of Home Builders) Eye on Housing out late last week included a chart of 5+ unit apartment building construction and absorption in the US. Built with the latest data from the Census Bureau’s SOMA (Survey of Market Absorption of Apartments, xls available here) is shows that absorption is holding in around 65% even while construction of new units is picking up:

Apartment building construction and absorption

The job growth isn’t distributed evenly across the US however. In the chart below from Axiometrics’ latest Jobs Report we can see which metros are Continue reading Apartment absorption remains high while new unit construction picks up according to the SOMA report.