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Absorption-of-Market-Apratments

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					NOTE TO DATA USERS: Beginning with completions in 2006, the metropolitan area data will change. Based on revisions to the definitions of metropolitan areas by the Office of Management and Budget (OMB), plus changes enacted to the Survey of Construction (SOC) and the Building Permit Survey - there will be a new set of areas covered by this survey, and the current areas will no longer be compiled. Even for those areas that appear to be the same in name, the geography, in virtually all cases is different, due primarily to ever-expanding reaches of the nation's metropolitan areas. Presently, the Survey of Market Absorption of Apartments (SOMA) includes a combination of 95 total primary metropolitan statistical areas, metropolitan statistical areas and combined metropolitan statistical areas. Beginning with 2006 completions, absorption rates for unfurnished rental apartments in a total of 45 core based statistical areas will be compiled, 15 of which will be covered on a quarter-by-quarter basis. Unfortunately, MARC's list of peer metros is not well represented in the Census Bureau's list oaf new areas to be tracked by SOMA, as only 7 of our metros, including Kansas City, are not on their list. Therefore, this data set set has limited usefulness, and it will become less useful as time goes by, unless the Census Bureau resumes tracking more areas in the future.

SUBJECT: Survey of Market Absorption of Apartments (SOMA)
This spreadsheet consists of several worksheets, which can be reached by clicking on the tabs at the bottom of this page. The contents of the tabs are in sequential order, as follows: Notes (this tab) Sampling and Estimation Second Quarter 2007 (Completions through the First Quarter 2007) First Quarter 2007 (Completions in 2006) First Quarter 2006 (Completions in the Fourth Quarter 2005) Fourth Quarter 2005 (Completions in the Third Quarter 2005) Fourth Quarter 2004 (Completions in the Third Quarter 2004) Fourth Quarter 2003 (Completions in the Third Quarter 2003) Fourth Quarter 2002 (Completions in the Third Quarter 2002) Fourth Quarter 2001 (Completions in the Third Quarter 2001) Fourth Quarter 2000 (Completions in the Third Quarter 2000) INTRODUCTION: The Survey of Market Absorption (SOMA) measures how soon privately financed, nonsubsidized, unfurnished units in buildings with five or more units are rented or sold (absorbed) after completion. In addition, the Survey collects data on characteristics of the units such as number of bedrooms, asking rent, and asking price (although not all of these data are reported at the metro geographic level). All statistics from the SOMA are limited to apartments in newly constructed buildings with five units or more. Absorption rates are based on the first time an apartment is rented after completion or the first time a condominium or cooperative apartment is sold after completion. If apartments initially intended to be sold as condominium or cooperative units are, instead, offered by the builder or building owner for rent they are counted as rental apartments. Units categorized as federally subsidized are those built under two programs of the Department of Housing and Urban Development (Section 8, Low Income Housing Assistance, and Section 202, Citizens Housing Direct Loans) and all units in buildings containing apartments in the Federal Housing Administration (FHA) rent supplement program. The data on privately financed units include privately owned housing subsidized by state and local governments. Time-share units, continuing care retirement units, and turnkey units (privately built for and sold to local public housing authorities after completion) are outside the scope of the survey.

The Survey of Market Absorption (SOMA), sponsored by the Department of Housing and Urban Development (HUD), uses the Census Bureau’s Survey of Construction (SOC) as its sampling base. Each month, a sample of residential buildings containing five or more units is selected for SOMA. The initial 3-month interview collects information on amenities, rent or sales price levels, number of units, type of building, and the number of units taken off the market (absorbed). Field representatives conduct subsequent interviews, if necessary, at 6, 9, and 12 months after completion. Beginning in 2002, the survey started collecting information on “Senior Housing”. Basic tabulations are released on the Internet and in a printed report. Additionally, data on absorption rates for selected metropolitan areas are released only on the Internet. Detailed information is provided for regular rental units and condominiums. There are also two annual releases, the H-131 Characteristics of Apartments Report which provides annual 3-month absorption rates, and the H-130 Annual which provides 12-month absorption data. In addition to the Kansas City Metropolitan Statistical Area, this database includes 9 other metros which have been identified as peers by MARC Research Services. Whenever possible (i.e., when comparable data exist), we will be adding data on the Austin, Dallas, Denver, Indianapolis, Minneapolis, Omaha, Portland, Salt Lake City and St. Louis metropolitan areas. USE: The rate at which a market absorbs new cosntruction is of particular interest to developers and planners. Developers need to know what the market demand is for their product. How long it takes for an apartment to be rented after construction is a strong indiactor of the need for such housing.

Planners, on the other hand, may have broader interests. City and county development planners may be concerned with the physical indicators of absorption, and will use such data to guide and even approve further development. Other planners may use the data indicretly to focus on the economic impact of housing built in different areas of a city (e.g., downtown) or the social impact of new rental housing (e.g., are rents affordable for the typical resident of the area). TIME PERIOD: Data is available quarterly since 2000, although this data set inlcudes quarters only for the currrent year. All prior years are reported on an annual basis. SOURCE: U.S. Department of Commerce, Bureau of the Census, Housing and Household Economic Statistics Division LAST METRO DATALINE UPDATE: December 24, 2007 ADDITIONAL INFORMATION: http://www.census.gov/hhes/www/housing/soma/soma.html

Source and Accuracy of the Estimates
The Survey of Market Absorption (SOMA) is a sample survey and consequently all statistics in the report are subject to sampling variability. Estimates derived from different samples would likely differ from one another. The standard error of a survey estimate is a measure of the variation among the estimates from all possible samples. It allows the Census Bureau to construct an interval with prescribed confidence that the interval includes the average of the estimates from all possible samples. Estimates of standard errors have been computed from the sample data and are presented in the tables. 90-percent confidence intervals for statistical comparisons can be constructed by using the standard errors found in the tables. Two types of possible errors are associated with data from sample surveys: nonsampling and sampling errors. In general, nonsampling errors can be attributed to many sources: inability to obtain information about all cases in the sample, difficulties with definitions, differences in interpretating questions, inability or unwillingness of the respondents to provide correct information, and data processing errors. Although no direct measurements of any bias that might result from nonsampling errors has been obtained, the Census Bureau thinks that most of the important response and operational errors were detected during review of the data for reasonableness and consistency. Sampling Errors The particular sample used for this survey is one of many possible samples of the same size that could have been selected using the same sample design. Even if the same questionnaires, instructions, and interviewers were used, estimates from different samples would likely differ from each other. The deviation of a sample estimate from the average of estimates from all possible samples is defined as the sampling error. The standard error of a survey estimate provides a measure of this variation and, thus, is a measure of the precision with which an estimate from a sample approximates the average result from all possible samples. If all possible samples were selected, if each was surveyed under the same general conditions, and if an estimate and its estimated standard error were calculated from each sample, then: Approximately 68 percent of the intervals from one standard error below the estimate to one Approximately 90 percent of the intervals from 1.6 standard errors below the estimate to 1.6 standard errors above the estimate (i.e., the 90-percent confidence interval) would include the average result from all possible samples. Approximately 95 percent of the intervals from two standard errors below the estimate to two standard errors above the estimate (i.e., the 95-percent confidence interval) would include the average result from all possible samples. This report uses a 90-percent confidence level as its standard for statistical significance. Beginning with data for completions in the second quarter of 1999, the Census Bureau implemented a new procedure for computing standard errors. The new procedure may result in differences in standard errors derived using the prior methodology, so standard errors were revised back to the third quarter of 1998.

For very small estimates, the lower limit of the confidence interval may be negative. In this case, a better approximation to the true interval estimate can be achieved by restricting the interval estimate to positive values; that is, by changing the lower limit of the interval estimate to zero. The average result from all possible samples either is or is not contained in any particular computed interval. However, for a particular sample, one can say with specified confidence that the average result from all possible samples is included in the constructed interval. NOTE TO DATA USERS The SOMA adopted new ratio estimation procedures in 1990 to derive more accurate estimates of completions. Please use caution when comparing the number of completions in 1990 and following years with those in earlier years. SAMPLE DESIGN The U.S. Census Bureau designed the survey to provide data concerning the rate at which privately financed, nonsubsidized, unfurnished units in buildings with five or more units are rented or sold (absorbed). In addition, the survey collects data on characteristics such as number of bedrooms, asking rent, and asking price. Buildings for the Survey came from those included in the Census Bureau's Survey of Construction (SOC). For the SOC, the United States is first divided into primary sampling units (PSUs), which are stratified based on population and building permits. The PSUs to be used for the survey are then randomly selected from each stratum. Next, a sample of geographic locations that issue permits is chosen within each of the selected PSUs. All newly constructed buildings with five units or more within the sampled places and a subsample of buildings with one to four units are included in the SOC. For the SOMA, the Census Bureau selects, each quarter, a sample of buildings with five or more units that have been reported in the SOC as having been completed during that quarter. The SOMA does not include buildings in areas that do not issue permits. In each of the subsequent four quarters, the proportion of units in the quarterly sample that are sold or rented ("absorbed") are recorded, providing data for absorption rates 3, 6, 9, and 12 months after completion. ESTIMATION The Census Bureau publishes preliminary estimates for a given quarter and may revise these estimates in ensuing quarters. Each quarter, some of the absorption data for some buildings arrive after the deadline for that quarter's report; these late data appear in a revised table in the next quarterly report. Finalized data appears in the H-130, Market Absorption of Apartments annual report. Beginning with data on completions in the fourth quarter of 1990 (which formed the basis for absorptions in the first quarter of 1991), the Census Bureau modified the estimation procedure and applied the new procedure to the data for the other three quarters of 1990 so that annual estimates using the same methodology for four quarters could be derived. The Census Bureau did not perform any additional re-estimation of past data. Using the original estimation procedure, the Census Bureau created unbiased estimates by multiplying the counts for each building by its base weight (the inverse of its probability of selection) and then summing over all buildings. Multiplying the unbiased estimate by the following ratio estimate factor for the country as a whole provided the final estimate:

total units in buildings with five or more units in permit-issuing areas as estimated by the SOC for that quarter* divided by total units in buildings with five or more units as estimated by the SOMA for that quarter *(Beginning with January 2001 completions, the SOC revised its methodology for estimating the number of units completed for 5+ multi-unit structures. See http://www.census.gov/ftp/pub/const/www/new_methodology_const.html for these changes. Thus, use caution when comparing data from 2001 and forward to any estimates prior to 2001.) In the modified estimation procedure, instead of applying a single ratio-estimate factor for the entire Nation, the Census Bureau computes separate ratio-estimate factors for each of the four census regions. Multiplying the unbiased regional estimates by the corresponding ratio-estimate factors provides the final estimates for regions. The Census Bureau obtains the final estimate for the country by summing the final regional estimates. This procedure produces estimates of the units completed in a given quarter which are consistent with the published figures from the SOC and also reduces, to some extent, the sampling variability of the estimates of totals. Absorption rates and other characteristics of units not included in the interviewed group or not accounted for are assumed to be identical to rates for units about which data were obtained. The noninterviewed and not-accountedfor cases constitute less than 2 percent of the sample housing units in this survey.

Core Based Statistical Area Absorption Rates Second Quarter 2007 SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units)

Completions in:

2nd quarter 2006 through 1st 1st quarter 2006 through 4th quarter 2007 quarter 2006 Percent absorbed in 3 months 60 82 62 61 61 53 * * 78 53 81 80 75 NA NA Percent absorbed in 6 months 90% C.I. (+/-)2 80 94 77 76 77 81 86 + 74 79 92 91 80 NA NA 2.8 + 5.0 12.2 2.4 + + + 16.9 1.1 2.6 7.8 1.3 NA NA

Area Austin-Round Rock, TX Columbus, OH Dallas-Ft. Worth-Arlington, TX Denver-Aurora, CO Indianapolis-Carmel, IN Jacksonville, FL Kansas City, MO-KS Milwaukee-Waukesha-West Allis, WI Minneapolis-St. Paul, MN-WI Orlando-Kissimmee, FL Portland-Vancouver-Beaverton, OR-WA San Diego-Carlsbad-San Marcos, CA Tampa, St. Petersburg-Clearwater, FL St. Louis, MO-IL Salt Lake City-Ogden, UT

90% C.I. (+/-)2 3.1 + 6.9 19.3 2.6 3.1 * * 9.4 2.0 11.4 11.5 3.3 NA NA

2 A 90% confidence variability is a measure of an estimate's variability. The larger the confidence interval in relation to the size 1 The percent of all units in the MSA in buildings with 5 units or more that are in places in th Permit Use Survey sample. * Data suppressed to prevent disclosure + Estimated to be less than one half of one percent OR cannot be estimated - No activity # Withheld because the estimate did not meet publication standards because of the associated confidence interval * = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division

Washington, D.C. 20233-8500

nfidence interval in relation to the size of the estimate, the less reliabble the estimate th Permit Use Survey sample.

ated confidence interval

ociated standard error

Metropolitan Area Absorption Rates First Quarter 2007 (Completions in 2006) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 1st quarter 2006 through 4th quarter 2006 Percent absorbed in 3 months 90% C.I. 60 3.9 * * 61 4.5 50 2.4 55 4.3 59 1.6 23 + 60 20.3 57 7.3 75 8.0 70 19.7 63 3.8 * + 82 #

Completions in: Coverage1

Area Austin-Round Rock, TX Columbus, OH Dallas-Ft. Worth-Arlington, TX Denver-Aurora, CO Indianapolis-Carmel, IN Jacksonville, FL Kansas City, MO-KS Milwaukee-Waukesha-West Allis, WI Minneapolis-St. Paul-Bloomington, MN-WI Orlando-Kissimmee, FL Portland-Vancouver-Beaverton, OR-WA San Diego-Carlsbad-San Marcos, CA Tampa, St. Petersburg-Clearwater, FL St. Louis, MO-IL Salt Lake City-Ogden, UT

1 The percent of all units in the MSA in buildings with 5 units or more that are in places in th Permit Use Survey sample. * Data suppressed to prevent disclosure + Estimated to be less than one half of one percent OR cannot be estimated - No activity # Withheld because the estimate did not meet publication standards because of the associated confidence interval

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ermit Use Survey sample.

d confidence interval

Metropolitan Area Absorption Rates First Quarter 2006 (Completions in the Fourth Quarter 2005) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 1st quarter 2005 through 4th quarter 2005 4th quarter 2004 through 3rd quarter 2005 3rd quarter 2004 through 2nd quarter 2005

Completions in:

Area Austin-San Marcos, TX Dallas, TX Denver-Boulder-Greeley, CO Fort Worth-Arlington, TX Indianapolis, IN Kansas City, MO-KS Minneapolis-St. Paul, MN-WI Portland-Vancouver, OR-WA St. Louis, MO-IL Salt Lake City-Ogden, UT

Percent Percent Percent absorbed in absorbed in absorbed in 3 months 90% C.I. 6 months 90% C.I. 9 months 90% C.I. 65 17.8 79 17.1 90 1.3 61 10.1 81 9.3 93 0.8 54 9.6 79 12.1 85 1.5 100 + 100 + 94 1.0 49 3.2 63 4.7 74 2.0 49 4.6 91 2.9 95 1.6 # 10.4 77 20.0 92 8.4 66 9.1 79 4.1 94 2.9 * + 100 + 100 + 82 # 84 23.2 86 22.0

* = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ated standard error

Metropolitan Area Absorption Rates Fourth Quarter 2005 (Completions in the Third Quarter 2005) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 4th quarter 2004 through 3rd quarter 2005 3rd quarter 2004 through 2nd quarter 2005 2nd quarter 2004 through 1st quarter 2005

Completions in:

Area Austin-San Marcos, TX Dallas, TX Denver-Boulder-Greeley, CO Fort Worth-Arlington, TX Indianapolis, IN Kansas City, MO-KS Minneapolis-St. Paul, MN-WI Portland-Vancouver, OR-WA St. Louis, MO-IL Salt Lake City-Ogden, UT

Percent Percent Percent absorbed in Standard absorbed in Standard absorbed in Standard 3 months error 6 months error 9 months error # 58 70 95 48 56 68 59 55 # # 14.7 4.8 5.8 6.2 4.3 10.4 9.1 + # 76 81 76 87 59 91 87 85 100 # 6.8 6.7 9.7 3.5 2.0 3.4 12.8 4.3 + # 88 94 85 94 72 98 92 100 60 1.5 3.4 2.5 1.0 4.2 0.7 7.0 + +

* = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ted standard error

Metropolitan Area Absorption Rates Fourth Quarter 2004 (Completions in the Third Quarter 2004) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 3rd quarter 2003 through 2nd quarter 2004 2nd quarter 2003 through 1st quarter 2004 1st quarter 2003 through 4th quarter 2003

Completions in:

Area Austin-San Marcos, TX Dallas, TX Denver-Boulder-Greeley, CO Fort Worth-Arlington, TX Indianapolis, IN Kansas City, MO-KS Minneapolis-St. Paul, MN-WI Portland-Vancouver, OR-WA St. Louis, MO-IL Salt Lake City-Ogden, UT

Percent Percent Percent absorbed in Standard absorbed in Standard absorbed in Standard 3 months error 6 months error 9 months error 58 52 56 67 58 60 69 52 * * 3.5 # 6.5 3.4 4.8 7.7 16.9 # * * 75 74 74 76 79 43 79 70 83 79 2.3 7.8 2.9 9.0 2.8 # 22.6 # # 10.7 83 90 88 84 88 48 88 95 83 * 0.8 2.3 0.8 7.8 1.3 # 12.2 0.8 # *

* = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ted standard error

Metropolitan Area Absorption Rates Fourth Quarter 2003 (Completions in the Third Quarter 2003) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 4th quarter 2002 through 3rd quarter 2003 3rd quarter 2002 through 2nd quarter 2003 2nd quarter 2002 through 1st quarter 2003

Completions in:

Area Austin-San Marcos, TX Dallas, TX Denver-Boulder-Greeley, CO Fort Worth-Arlington, TX Indianapolis, IN Kansas City, MO-KS Minneapolis-St. Paul, MN-WI Portland-Vancouver, OR-WA St. Louis, MO-IL Salt Lake City-Ogden, UT

Percent Percent Percent absorbed in Standard absorbed in Standard absorbed in Standard 3 months error 6 months error 9 months error 45 63 54 # 62 39 54 48 * * 2.1 2.1 2.1 # 2.1 7.4 13.3 5.8 * * 71 63 74 # 82 88 87 68 * * 1.5 2.1 1.8 # 3.3 5.1 7.6 4.6 * * 87 78 86 # 93 93 94 82 83 * 1.1 1.7 1.9 # 2.3 2.2 4.4 4.8 1.7 *

* = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ted standard error

Metropolitan Area Absorption Rates Fourth Quarter 2002 (Completions in the Third Quarter 2002) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 4th quarter 2001 through 3rd quarter 2002 3rd quarter 2001 through 2nd quarter 2002 2nd quarter 2001 through 1st quarter 2002

Completions in:

Area Austin-San Marcos, TX Dallas, TX Denver-Boulder-Greeley, CO Fort Worth-Arlington, TX Indianapolis, IN Kansas City, MO-KS Minneapolis-St. Paul, MN-WI Portland-Vancouver, OR-WA St. Louis, MO-IL Salt Lake City-Ogden, UT

Percent Percent Percent absorbed in Standard absorbed in Standard absorbed in Standard 3 months error 6 months error 9 months error 61 59 65 60 78 65 * 49 48 # 1.7 2.6 1.1 3.1 8.4 9.6 * 8.3 11.7 # 81 78 82 71 88 79 82 83 64 69 1.5 2.0 1.0 1.9 7.1 4.9 9.3 4.0 3.3 16.5 90 90 91 88 98 84 90 93 73 87 1.2 1.7 1.1 2.0 0.5 4.6 4.6 2.9 9.2 6.0

* = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ted standard error

Metropolitan Area Absorption Rates Fourth Quarter 2001 (Completions in the Third Quarter 2001) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 4th quarter 2000 through 3rd quarter 2001 3rd quarter 2000 through 2nd quarter 2001 2nd quarter 2000 through 1st quarter 2001

Completions in:

Area Austin-San Marcos, TX Dallas, TX Denver-Boulder-Greeley, CO Fort Worth-Arlington, TX Indianapolis, IN Kansas City, MO-KS Minneapolis-St. Paul, MN-WI Portland-Vancouver, OR-WA St. Louis, MO-IL Salt Lake City-Ogden, UT

Percent Percent Percent absorbed in Standard absorbed in Standard absorbed in Standard 3 months error 6 months error 9 months error 63 46 69 81 58 57 # 70 # 93 1.3 4.7 1.0 2.1 5.8 1.3 # 13.5 # 2.1 86 82 90 94 71 75 78 88 69 100 1.6 4.8 1.5 0.5 6.7 0.5 15.5 4.9 12.0 + 96 94 95 97 86 88 90 99 82 100 + 1.9 1.8 0.5 3.1 0.5 6.9 + 7.5 +

* = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ted standard error

Metropolitan Area Absorption Rates Fourth Quarter 2000 (Completions in the Third Quarter 2000) SURVEY OF MARKET ABSORPTION Estimates of Absorption Rates (Privately-financed, nonsubsidized, unfurnished units) 4th quarter 1999 through 3rd quarter 2000 3rd quarter 1999 through 2nd quarter 2000 2nd quarter 1999 through 1st quarter 2000

Completions in:

Area Austin-San Marcos, TX Dallas, TX Denver-Boulder-Greeley, CO Fort Worth-Arlington, TX Indianapolis, IN Kansas City, MO-KS Minneapolis-St. Paul, MN-WI Portland-Vancouver, OR-WA St. Louis, MO-IL Salt Lake City-Ogden, UT

Percent Percent Percent absorbed in Standard absorbed in Standard absorbed in Standard 3 months error 6 months error 9 months error 92 70 79 54 50 75 * 67 * 85 + 1.7 3.3 4.7 5.6 3.6 * 5.1 * 2.6 98 85 93 91 69 89 * 91 * 95 + 1.2 0.8 3.1 1.1 2.9 * 2.7 * 0.9 99 89 98 97 79 95 98 * 98 + 4.3 + 0.9 + 1.3 0.7 * +

* = Data suppressed to prevent disclosure + = Estimated to be less than one half of one percent OR cannot be estimated - = No activity # = Withheld because the estimate did not meet publication standards because of the associated standard error

U.S. DEPARTMENT OF COMMERCE Bureau of the Census Housing and Household Economic Statistics Division Washington, D.C. 20233-8500

ted standard error


				
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