Bloomberg reports shipment of manufactured housing in April fell to a seasonally-adjusted annual rate of 46,000 from 47,000 from March, according to the Census Bureau. The average sales price fell from $59,300 to $56,800 in April. The seasonally-adjusted dealer inventory remained steady at 22,000, while placements dropped from 43,000 to …
The Charlotte Observer reports from North Carolina that Universal Forest Products, Inc., will hire 49 workers upon opening a second facility in Salisbury, NC. With $80,000 in state grant money, this manufacturer of wood and wood-alternative products for the manufactured housing, retail and construction markets will invest $2.6 million over …
HousingWire reports the National Association of Realtors (NAR) says pending home sales rose above year-ago levels for the first time since April 2010, increasing 8.2 percent in May. April 2011 pending sales had decreased 11.6 percent over March, and were down 26.5 percent over April 2010. The NAR’s pending home …
The Statesman Journal reports from Salem, Oregon, that Palm Harbor Homes is supplying the Oregon State Fairgrounds with 25 small modular homes to comprise the Oregon Youth Village, replacing a series of dormitories that were structurally unsound. State law requires the State Fair to house 4H and Future Farmers of …
Palm Harbor Supplies State Fair with Modular Homes Read More
MHMSM.com has learned that Chicago-based private equity real estate investment firm Green Courte Partners LLC has named Keith Balowek Managing Director, Parking Acquisitions. With 30 years real estate experience in a number of private and public companies, Mr. Balowek was involved in the acquisition of more than $500 million parking …
The Louisville Courier-Journal says a Wall Street Journal analysis of mortgage banking in Kentucky shows people had more trouble getting financing in 2010 than in other states. Adam Hall, president of the Mortgage Bankers Association of Kentucky says part of the reason in the rural areas is the existence of …
Study Shows Tighter Lending Restrictions in Kentucky Read More
The Bethlehem Patch reports from Bethlehem, Pennsylvania, that an 11.8 acre lot may soon be home to 59 manufactured homes, 132 parking spaces and a basketball court called Applebutter Village. The developer was granted an extension to July 14 by the Bethlehem Planning Commission to address concerns relating to visitor …
MHMSM.com has learned that HME Solar Solutions of the Netherlands has developed a factory-built home with a solar panel roof that will not only function as the sole energy source for the small vacation home, but can combine with other HME homes to generate energy for a community. The entire …
The Daily Profit Blog reports that two of the top five small cap stocks for June 23 were manufactured housing stocks. Skyline Corporation (NYSE:SKY) gained 7.8 percent, and Cavco Industries (NASDAQ:CVCO) was up 4.8 percent, turning in the third and fourth best performances, respectively, for the day. The report says …
Concurrent to the news from the Census Bureau, LinkedIn reports from Realtor Magazine the median sale price of new homes rose 2.6 percent in May over April, to $222,600. This marked the first time in six months that number has risen. The normal markup of new homes over existing homes …
Origination News says the Census Bureau reports new home sales fell in May to a seasonally-adjusted rate of 319,000, down from 326,000 in April. Sales fell two percent below April, and 13.5 percent below May 2010. IHS Global Insight economist Patrick Newport says new home sales are “stuck at the …
Delaware Online reports from Georgetown that the Sussex County Council overruled the county planning and zoning commission and voted to put an RV campground in the middle of Rehoboth Shores manufactured home community. The undeveloped space had been designated for 260 home locations, but the council said it will increase …
County Council Overrules Zoning Commission in Delaware Read More
TakeoverChatter reports that Equity LifeStyle Properties (ELS) is one of five companies to hit a 52-week high June 20. The higher price may be the result of investors thinking the stock is undervalued, and their demand pushes the price higher. ELS Chairman Sam Zell recently led his company in acquiring …
The Dickinson Press in Dickinson, North Dakota, reports two brothers have combined Custom Touch Homes manufactured housing and Rosebud Manufacturing interior wood furnishings under one roof into Dakota Custom Cabinets and Homes LLC. Tim Kern manages Custom Touch and says the “stick-built offsite” homes are comparable to site-built in terms …
Business Wire reports that Morgan Stanley is partnering with National Equity Fund (NEF) to establish a program to develop affordable housing and jobs in a 13-state area hit hard by recent storms and flooding. By using Low Income Housing Tax Credits (LIHTC), the $100 million program can finance new construction …
From Alabama, the Tuscaloosa News says one of the newest housing developments is a gated, affordable manufactured housing community in a hilly area of the county. Country Ridge offers refurbished homes from the low $20,000s to the high $40,000s, with quaint street lights, underground utilities, security cameras and large lots …
Daily Commercial News says Intelligent Living Corporation (ILVC) (OTCBB: ILVC) of Vancouver, British Columbia, Canada, is working with First Nations communities in Western Canada to help meet their needs for 20,000 modular housing units. In addition, a recent government analysis determined that 50 percent of tribal housing needs major repairs. …
Canadian Firm Building Modular Units for First Nations People Read More
Yahoo! Finance reports Nobility Homes financials for the second quarter 2011 show a drop of revenue of nearly $480,000 from the second quarter 2010 to $3,229,214. The loss of $143,047 for Q2 2011 is less than the $236,928 lost in the second quarter of 2010. Nobility says it has a …
LinkedIn reports from Realty Trac that notices for mortgage payment defaults fell to their lowest level in five years. Foreclosure filings fell 33 percent from May a year ago, and bank repossessions are down nearly 30 percent from May 2012. Banks are expected to repossess 20 percent fewer homes this …
Good Signs for the Housing Recovery—but Good Enough? Read More
The New York Times notes that while the term prefab or modular has long conjured images of cheap and flimsy, today’s builders are learning that modular construction uses the same materials as traditional building, and can save 20 percent in costs as well as months of construction. In Philadelphia, an …
Modular Construction Preferred in Pennsylvania and New York Read More
