The S&P/Case Shiller Home Price Indices show an average price growth year-over-year in August of 12.8 percent for the 10-and 20-city composites, according to HousingWire. On a monthly basis, the composites rose 1.3 percent in August, with Las Vegas hitting 2.9 percent, its highest rate since August 2004. Detroit and …
Large Metro Areas see Home Prices Rise, says S&P Case Shiller Read More
A lackluster report on retail sales was not sufficient to rein in the bulls in today’s trading as the Dow and the S&P moved to new highs, encouraged by the Federal Reserve’s decision to continue its economic stimulus. CNNMoney reports the Dow Jones Industrial Average rose 111.42 points, +0.72 percent, …
Cavco Rides, Patrick Slides, Dow and S&P Hit New Highs Read More
Although in line with analyst’s consensus estimates of earning $0.82 per share for Q3, 2013, Sun Communities, Inc. (SUI) had revenues of $107. 20 for the same quarter 2012, far above the $80.38 million that had been estimated. By comparison, according to Zolmax.com, earnings per share hit $0.71 for the …
New York City-based Meridian Capital Group LLC arranged a $150 million acquisition and permanent financing of a manufactured housing community (MHC) portfolio package for Matrix Realty Group. The portfolio contains 11 MHCs comprised of 5,347 homesites in mostly small towns, ten in Michigan and one in Alabama, as rejournal.com informs …
Manufactured Housing Community Portfolio Moves through Matrix Realty Read More
While mortgage lending in rural areas expanded last year as did as did overall lending, rural applicants are more likely to be denied and to pay higher interest rates than urban borrowers. While 21 percent of rural applicants were denied a loan last year–some 500,000– the overall rate for the …
Rural Mortgage Borrowers Hit Harder than Urban Brethren Read More
With half of the companies in the S&P 500 having reported third quarter financials and 75 percent of them are better than expected, according to what FactSet tells CNNMoney, the S&P gained +2.34 points, +0.13 percent, to set another record high at 1,762.11. Meanwhile, the rally from last week stalled …
Patrick Spikes, while most Tracked Stocks are Quiet, many Slipping Read More
The crumbling Packard Motor Plant in Detroit, built in 1905 but closed in 1956, had tenants until the late 1990s and is now set to become a facility to build modular homes and offices. A family doctor from Texas, along with several investors, won the bid at $6 million for …
Mark Wilson of non-profit affordable housing developer Community Frameworks in Spokane, Washington, noting that multi-generational living is coming back, is seeking a family to purchase an elder cottage as a model for the organization. He says, “An elder cottage is a small, energy-efficient, self-contained home designed to be placed adjacent …
According to marketwatch.com, Cavco Industries, Inc. (CVCO) will release its financials for the second quarter of fiscal 2014 on Thurs., October 31 after the close of the market. Senior management will discuss the results in a webcast the following day, Fri., Nov. 1 at 12:00 noon EST. Interested parties may …
Federal Housing Finance Agency (FHFA) Director Edward DeMarco says he plans to reduce the government service enterprise (GSEs) loan limits which will increase private sector participation in the mortgage market, according to nationalmortgagenews. He also intends to gradually increase the guarantee fees that Fannie Mae and Freddie Mac charge lenders. …
DeMarco will Increase Private Sector Participation Read More
Corporate returns among several high tech stocks pushed the S&P to an all new high, and the Dow and Nasdaq ended the week gaining about one percent each. CNNMoney reports the Dow Jones Industrial Average advanced +61.07 points, +0.39 percent, to end the day at 15,570.28. The Nasdaq gained +0.37 …
Three Major Indexes Gain; Tracked Housing Stocks Move Little Read More
Patrick Industries, Inc. (NASDAQ:PATK) reports net sales for Q3 2013 increased 29.8 percent over the same quarter 2012, from $112.9 million to $146.6 million. While sales to the manufactured housing (MH) industry rose 16 percent, the sales increase was due primarily to the 35 percent increase in revenues from the …
Positive domestic corporate returns and good news from China’s factory activity lifted investors’ mood as all three major indexes gained in today’s trading. CNNMoney reports the Dow Jones Industrial Average advanced +95.88 points, +0.62 percent, to end the day at 15,509.21. The Nasdaq gained +0.56 percent, +21.89 points to end …
Patrick Leads Tracked Housing Stocks; Three Major Indexes Advance Read More
Doug Koos owns a manufactured housing community in Castine, Maine that he intends to turn into a modular housing community. Currently he has 19 manufactured homes on the property plus six abandoned homes that are currently being demolished in the community licensed for 29 units. State law allows for modular …
An ongoing dispute between the British Columbia Safety Authority (BCSA) in Canada and modular home builder Riske Creek Manufacturing and its owner Andy Tower has resulted in a recall of the company’s homes by the BCSA, which alleges the park model homes do not comply with gas and electrical certification …
Universal Forest Products, Inc. (NASDAQ:UFPI) has been upgraded from neutral to outperform, according to a Zacks analyst as published by Zolmax.com. Zacks says, “Universal Forest’s earnings more than doubled year over year to $0.71 per share in the third quarter 2013. Revenues grew 22% on the back of healthy performances …
NECN reports the Vermont Manufactured Housing Innovation Project will begin replacing ten aging factory-built homes with new energy efficient manufactured homes in a pilot project funded by non-profits, tax rebates, and fixed bank rates. As MHProNews has learned, 15 percent of the homes damaged or destroyed in Vermont during Tropical …
Southern Energy Homes has finalized plans to move its homebuilding facility from Double Springs, Alabama to a 176,000 square foot plant in an industrial park in Russellville. The 200 employees of this manufactured housing builder will be transferred to the new operation in the northwest part of the state. The …
While unemployment fell to a five-year low in September, hitting 7.2 percent, down .01 percent from August, non-farm payrolls rose by only 148,000 jobs. Says Paul Ashworth of Capital Economics, “The unemployment rate keeps edging lower, but the Fed seems to be more focused on the drop-off in the pace …
Employment for Young Renters and Homebuyers Remains Sluggish Read More
Investors focused on a mixed bag of corporate earnings and a dismal outlook from Caterpillar as the three major indexes all slid into the red zone for the day. CNNMoney reports the Dow Jones Industrial Average edged down -54.33 points, -0.35 percent, to end the day at 15,413.33. The Nasdaq …
Tracked Housing Stocks Close Mixed; Three Major Indexes Slide Read More
