Devereaux Homes and Developments in Regina, Saskatchewan, Canada is busy assembling multi-unit modular apartments at Sky Harbour Estates. CEO Denis Jones says while single-family and two story modular building has been around a long time, it’s only recently the technology has been applied to multi-unit developments. Upon completion, Sky Harbour …
The California Association of Realtors (CAR) says pending home sales increased for the second straight month in Feb. Equity sales comprised 51.1 percent of home sales in Feb., a slight increase from 49.9 percent the prior month, and 44.8 percent a year ago. According to NationalMortgageNews distressed property sales statewide …
OriginationNews tells MHProNews.com FHA-backed single-family mortgages fell almost ten percent in Feb. from the previous month as lenders originated $16.5 billion in loans. According to HUD, lenders originated $8.4 billion of FHA loans and $6.8 billion of refinanced loans. Purchases fell 18 percent from January. Funding of reverse mortgages totaled …
SeekingAlpha reports the manufactured housing industry sub-sector is the smallest sector in the FTSE NAREIT Index. MHProNews.com says the Index has different methods to rate the performance of commercial real estate investment and property sectors. It notes as of the end of Feb. 2012, there were 126 equity REITs (real …
As home prices fell for the fifth consecutive month, hitting their lowest point since Q4 2002, investors shied away from urging the market higher. CNNMoney tells MHProNews.com all three markets lost ground today, as the Dow Jones Industrial Average dropped -43.90 points, -0.33 percent, to close at 13,197.73. The Nasdaq …
Investors Cautious, Housing Stocks Mixed, Patrick Gains Read More
In a press release, MarketWatch says NADAguides Manufactured Housing CONNECT provides instant valuation of homes from 1963-2012, in a web-based application, with adjustments for geographic location, community and loan valuation guidelines, condition, accessories, and repairs needed. The guide helps lenders, retailers and community owners evaluate MH. The release says NADAguides …
From the headquarters in Concord, New Hampshire of ROC (resident-owned communities) USA, LLC President Paul Bradley informs MHProNews.com Michael Bullard has joined the ROC team as Communications and Marketing Manager effective April 9, 2012. For nearly ten years Bullard has been Executive Editor of the Cecil Whig newspaper in Cecil …
In the biggest gain since Jan. 3 when the Dow rose 180 points, CNNMoney tells MHProNews.com the Dow Jones Industrial Average moved up 160.90 points, + 1.23 percent, to close at 13,241.63, as Fed Chairman Ben Bernanke indicated to a group of economists the interest rate will remain low for …
Dow Posts 2nd Biggest Gain of Year; UMH and Patrick Rise as Well Read More
Although it requires twice the manpower, takes three times longer, and nearly doubles the cost to deconstruct a home than demolish it, a Cleveland company, A Piece of Cleveland, and the Cleveland Institute of Art are conducting a test program to make furniture, mill work, and other items from the …
BloombergBusinessNewsweek tells MHProNews.com manufactured housing shipments rose in Jan. to a seasonally-adjusted annual rate (SAAR) of 60,000, up from 59,000 in Dec. 2011. The number of placements remained the same at 48,000, and dealer inventory was unchanged at 22,000, all SAARs. The average median sales price fell from $62,600 to …
According to HousingWire, Freddie Mac says the 30-year, fixed rate mortgage (FRM) rose from 3.92 percent last week to 4.08 percent this week, the first time it has averaged above four percent since last October. One year ago it was 4.81 percent. The 15-year FRM edged up from 3.16 percent …
Despite unemployment claims hitting a four-year low, investors were more concerned about economic growth hitting a soft spot in China and Germany, causing alarm among investors. CNNMoney tells MHProNews.com all three markets lost ground today, as the Dow Jones Industrial Average dropped 78.48 points, -0.60 percent, to close at 13,046.14. …
NationalMortgageNews tells MHProNews.com Bank of America/Merrill Lynch Global Research analysts say home prices fell 3.2 percent in the second half of last year, but adds prices will bottom out this spring. Last Nov. B of A said housing prices would fall another 4-5 percent this year, but now says but …
B of A: Housing Recovery Happening, as it Heads for the Back Door Read More
In a short video, Baristanet informs MHProNews, Fredco Modular Homes of Passaic, New Jersey details the erection of an Excel four bedroom, two bath, two-story modular home in one day. Since 1979 the Fredco Group has been involved in site development, golf course/sports field construction, and landscaping/hardscaping, including the construction …
From Alabama and the Birmingham News, MHProNews.com learns that the Alabama House of Representatives recently approved legislation that exempts some storm shelters from new oversight by the state agency that regulates mobile homes. According to the report, the House voted 86-5 on the measure. Estimates say the new regulations were …
Alabama House Votes to Exempt Storm Shelters from Regulations Read More
According to The Wall Street Journal, the manufactured housing industry may be poised for a rebound. Noting the 42.1 percent increase in MH sales Jan. 2012 over Jan. 2011, and the corresponding six percent decrease of new single-family stick built homes in 2011, the article says home buyers may be …
WoodworkingNetwork informs MHProNews.com Universal Forest Products, Inc. (UFPI) has instituted a software system to document usage of 300 production tools. The new system, called Intooligence, and developed by an Elkhart, IN company of the same name, maintains a database of serial numbers of cutterheads, links to knife sets, keeps track …
News that building permit requests had risen in the U.S. was not sufficient to counter investors’ fears that China might be entering a manufacturing slowdown, sending the Dow Jones Industrial Average down 68.94 points, -0.52 percent, to 13,170.19, according to CNNMoney. Nasdaq lost -0.14 percent to end at 3074.15, and …
Deer Valley Slides, Skyline Falls, Despite Rise in Building Permits Read More
NorthBayBusinessJournal informs MHProNews.com new California modular kid-on-the-block Healthy Buildings Technology Group finished the first of two showcase Ohome homes in Napa, CA. The roof and wall panels of a 640 square-foot dwelling were hauled to a site in North Napa and assembled in two days. A second Ohome nearly twice …
Green-oriented Builder Sets Sights on Modular Homes Read More
The National Association of Home Builders (NAHB) tells MHProNews.com builder confidence as measured by the NAHB/Wells Fargo Housing Market Index (HMI) fell one point to 29 in March after five months of increase. A score of 50 or better indicates more builders see the market as good rather than poor. …
