| Variable | Correlation (R-squared) | t-Value | Elasticity Value |
| Employment Lagged | 0.8315 | 14.12 | 9.80 |
| Wage | 0.8649 | 4.20 | 2.50 |
| Housing Starts | 0.8817 | 3.23 | 0.24 |
| Housing Costs | 0.8853 | -4.36 | -0.70 |
| Additions/Improvements | 0.8982 | 2.90 | 0.20 |
| Addition Costs | 0.9084 | -3.33 | -0.10 |
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