Click here to send MH news, tips, links, documents, facts
or factory-built housing related news story suggestions.

Home > Business, housing, Manufactured Housing Industry, News, research, Trends > New High Mortgage Rates, Latest Core-Logic Housing Price Data

New High Mortgage Rates, Latest Core-Logic Housing Price Data

June 27th, 2018

RisingInterestRatesPlusLatestCoreLogicCaseSchillerHouiingPriceTrendsandDataManufacturedHomeIndustryMHProNews

The S&P CoreLogic Case-Shiller 20-city home price index moved up 6.6 percent from a year earlier.  Housing price increases in Seattle, Las Vegas and San Francisco were at a double digit clip, the organization said in a release to the Daily Business News.

 

U.S. home prices rose in April from a year earlier, lifted by bidding wars in many cities where would-be buyers fought over a sparse supply of homes.

In April, Seattle led the way with a 13.1% year-over-year price increase, followed by Las Vegas with a 12.7% increase and San Francisco with a 10.9% increase. Nine of the 20 cities reported greater price increases in the year ending April 2018 versus the year ending March 2018,” the S&P CoreLogic Case-Shiller release stated.

FREDCaseschilelrHousingIndexManufacturedHousingIndustryDailyBusinessNewsMHProNEws

Prices rose even as home sales fell and mortgage rates climbed,” noted Newsmax.

Mortgage rates reached a seven-year high in late May of 4.77 percent, before declining this month. As of last week, the 30-year fixed mortgage rate averaged 4.57 percent, according to Freddie Mac. A year ago, it was 3.9 percent.

FREDCaseschilelrHousingIndexNationalManufacturedHousingIndustryDailyBusinessNewsMHProNEws

The economy is growing and the unemployment rate is at an 18-year low, which typically would point to stronger home sales,” noted Newsmax.

 

Analysis by S&P…

Home prices continued their climb with the S&P CoreLogic Case-Shiller National Index up 6.4% in the past 12 months,” says David M. Blitzer Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Cities west of the Rocky Mountains continue to lead price increases with Seattle, Las Vegas and San Francisco ranking 1-2-3 based on price movements in the trailing 12 months. The favorable economy and moderate mortgage rates both support recent gains in housing. One factor pushing prices up is the continued low supply of homes for sale. The months-supply is currently 4.3 months, up from levels below 4 months earlier in the year, but still low.”

Americans are increasingly turning to newly-built homes,” per Newsmax, “where sales jumped 6.7 percent in May. But higher prices and fewer existing homes to choose from are cutting many Americans out of the housing market.”

 

Manufactured Housing Signficance?

Many of these conditions – such as interest rising rates – are historically those that would lead to an increase in manufactured home sales.

ManufacturedHomeShipmentsVsNewExistingHomeSalesStaartsManufacturedHouisngIndustryDailyBusinessNEwsMHPronews

Facts are facts. They are neutral measures of reality. Once facts and their causes are understood, then the opportunities can be tapped. What the above means is that the typical retailer could potentially be selling 10x (+/-) more homes. a typical market

Nevertheless, manufactured home production and sales are still at historically low levels.

MobileHomeShipmentsManufacturedHomeShipmentChartMHIAShipmentsMHIndustryChampionSkylineHUDCodeDailyBusinessNewsMHProNews

What was accomplished previously in sustainable shipment levels, can clearly be done again.

In a release to MHProNews, the Manufactured Housing Association for Regulatory Reform (MHARR) attributed some of the woes for the still-low sales level to a lack of effective post-production national industry leadership.

MHARR hailed the start of a new communities focused post-production association.

New Manufactured Home Industry National Association Related Statements

The independent producers association based in Washington, D.C. nevertheless urged that the rest of the industry’s post-production companies should work to organize their own association.  That’s a call that award-winning Bob Crawford, president of Dick Moore Housing and others in the retail side of the HUD Code home industry support.

The new MH Communities association, and the call for a new retail post-production association follows comments by MHI award winner, Marty Lavin, who said that the Arlington, VA based trade group only works for the interests of the “big boys.”

‘Tip of Iceberg’ – Rick Rand; Marty Lavin, Communities have ‘No Confidence’ in Manufactured Housing Institute, New National Trade Group Announced

Lavin added that MHI is useful for smaller firms only to the extend that a small firm’s need happens to mirror that of a larger company.  For more details, see the related reports, linked above and below. (News, analysis, and commentary.)

(Third party images are provided under fair use guidelines.)

Related Reports:

Manufactured Home Communities, Retailers, Developers Face Disruptive, Troubling Trend

NorthStar and Manufactured Housing Radix

Only 3 Options – the Elephant in the Room

 

ConfidentialNewsTipsOKTipsIreportMHNews@MHMSM-comGraphic

To report a news tip, click the image above or send an email to iReportMHNewsTips@mhmsm.com – To help us spot your message in our volume of email, please put the words NEWS TIP in the subject line.

1) To sign up in seconds for our MH Industry leading emailed news updates, click here.EmailedMHProNewsHeadlineNewsDailyBusinessNews

2) To provide a News Tips and/or Commentary, click the link to the left. Please note if comments are on-or-off the record, thank you.

3) Marketing, Web, Video, Consulting, Recruiting and Training Resources

SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.


Matthew Silver - Reporter at Large
Soheyla Kovach - Support Services
L.A. 'Tony' Kovach - Publisher, Editor and Marketing Director. To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Comments are closed.