QUESTION
How have the numbers of vacant and available versus vacant and not available apartments changed in New York City?
0:50:30
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66 sec
Elyzabeth Gaumer confirms a net increase in occupied units in New York City, explaining that households have moved into newly available units or those previously off-market, resulting in high occupancy rates.
- A net increase of 60,000 occupied units is reported despite a decrease in vacant available and not available units.
- Vacant and available units have declined by nearly 70,000, and vacant not available by 123,200.
- Households are moving into units previously available for rent and those off the market in 2021.
- Occupancy rates are exceptionally high across all types of housing, including those that were off-market and vacant previously.
Pierina Ana Sanchez
0:50:30
On your slides 78, you showed that the rate the number of vacant and available apartments for rent have declined by nearly 70,000 and vacant not available is down by 123,200.
0:50:44
So it it seems like where the survey is showing us that we have more units in the city of New York, 60,000 more.
0:50:51
We have more units online and fewer unavailable.
0:50:54
Am I understanding that correctly?
0:50:55
Can you expand upon that a little bit?
Elyzabeth Gaumer
0:50:57
Yeah.
0:50:57
That's absolutely correct.
0:50:59
When we had this when when we, as a city, experience this dramatic net increase in occupied units that not only are households that are going into new supply, but they also have to go into other housing units.
0:51:12
And what we saw very clearly was that they moved into units that had been available for rent.
0:51:17
Those are now dramatically occupied.
0:51:21
And that many of those units that had been off the market in 21 also were now occupied.
0:51:26
When we just see occupancy rates exceptionally high across the board in every type of housing, including those that were off market and vacant last time.