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Apartment Absorption Doubles in Q2 Analysis

HOUSTON-Absorption during the second quarter reaches levels not seen since 2001. The final count shows 3,823 units were rented versus 1,665 a year ago. More than 60% of the quarter's momentum was aimed at the class A sector.

By Jennifer D. Duell | Updated on July 15, 2005

HOUSTON-The region’s multifamily market more than doubled its absorption in the past year, according to a recently released, second-quarter analysis. The 3,823-unit absorption, up from 1,665 units a year ago, is the highest it’s been since 2001.

The research team reports the level of absorption is especially impressive given the amount of apartments that have hit the market this year in the 473,000-unit inventory, says Leslie Countryman, a market analyst with O’Connor & Associates in Houston. To date, 26 complexes with 6,506 units have come online and an additional 43 developments with 9,942 units are under construction. Of those complexes, 16 are tax-credit projects, she says.

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