- Single-family homes (i.e. 1-unit)
- Multi-unit homes (i.e. 2-4 units)
- Apartments (5 units or more)
The group reading is a fair description of the market and it's easy-to-understand. As a result, it's what the press tends to report. However, for home buyers in Oklahoma , it's the single-family category that's most relevant. The reason why single-family homes accounted for 84% of November's Housing Starts is because that's the type of home that most buyers buy. Few purchase 2-4 unit properties, and even fewer buy entire apartment complexes. That said, it's possible that November's Housing Starts data is wrong. Within the press release, the government placed an asterisk next to the data, indicating that the figure's margin of error exceeds its actual measurement. Against a 7 percent gain, the reported margin of error is 13.5%. There is no statistical evidence, therefore, to prove the actual change was different from zero. If Housing Starts did fall in November, it will help to reduce the Edmond housing inventory, which will, in turn, help keep home prices high. For home sellers, this could mean good news. Fewer homes for sale increase competition among buyers.
via Posterize
Originally posted at Oklahoma City Real Estate Blog
Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/housing-starts-rise-in-november-but-with-a-hi
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