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

Home > Affordable Housing, Analysis and Commentary, Association, Economy, housing, Manufactured Housing Industry, News, Trends > Significant Drop in Housing Sales, Splits Experts on Cause-Effect

Significant Drop in Housing Sales, Splits Experts on Cause-Effect

January 22nd, 2019

SignficantDropExistingHousingSalesSplitsExpertsonCauseEffectDailyBusinessNEwsMHProNews

CNBC and the National Association of Realtors are among the sources that report a drop in resale activity for December of 2018.

 

Here are some significant bullets and pull quotes for factory-built housing professionals to consider.

The latest decline is harder to explain. Perhaps it is the decline in consumer confidence that’s been occurring in the latter half of 2018,” said Lawrence Yun, chief economist for the Realtors. The latest numbers do not reflect the lower, current mortgage rates compared to the November figures, so it’s really harder to explain.”

 

December2018HOusingsnapshotDailyBusinessNewsMHProNews

To put this in context, the rate for existing home sales is about 50 times that of HUD Code manufactured homes. So don’t let the MHI or related powers that be spin this fact.

 

This weakness is certainly due to the sharp home price gains along with the rise in mortgage rates,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group, per CNBC.

 

ExistingHomeSalesDecember2018NationalAssociationRealtorsDailyBusinessNewsMHProNews

 

While positive demographics and a solid job market would normally offset this relatively modest rise in mortgage rates, it’s been about 10 years since mortgage rates have been as high as they were at the November peak – suggesting that there is a larger share of current homeowners who feel they are ‘locked in’ at a lower mortgage rate … reducing the number of them who would be looking for a home at a higher mortgage rate, said David Berson, chief economist at Nationwide, wrote Diana Olick.

The partial federal shutdown doesn’t factor in here, looking backwards, but it may going forward. “Looking ahead to 2019, expect weaker existing-homes sales as the new year ushered in a government shutdown and worsening economic uncertainty,” said Cheryl Young, senior economist at Trulia.

 

ManufacturedHousingSHipmentsBloombergQuintFactoryBuiltRebuidRecoveryDailyBusinessNEwsMHproNEws

Learn more about the cause and effect of manufactured housing’s slide, at this link here.

 

Affordability, rates, and a shift in uncertainty are among the debated points.  But each of these items – headwinds in conventional housing – could be used by manufactured home professionals to attract more buyers.  At various times in manufactured housing’s history, a drop in conventional housing would lead to a rise in manufactured home sales.

So why did manufactured housing slip before conventional housing?

 

ManufacturedHmeIndustryAchieveGreatPotentialAddressingResolvingCauseCorePerceptionIssuesLATonyKovachQuotePresentationPhoto

 

SubmitNewsTipsCommentsLettersToEditorMHProNews

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.

 

See the related reports, further below the byline and notices for insights on that question.  “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

ManufacturedHousingProNewsMHProNewsConfidentialTipsDocumentsNews

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.

NOTICE: You can get our ‘read-hot’ industry-leading emailed headline news updates, at this link here. You can join the scores who follow us on Twitter at this link. Connect on LinkedIn here.

NOTICE 2: Readers have periodically reported that they are getting a better experience when reading MHProNews on the Microsoft Edge, or Apple Safari browser than with Google’s Chrome browser. Chrome reportedly manipulates the content of a page more than the other two.

(Related Reports are further below. Third-party images and content are provided under fair use guidelines.)

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

ManufacturedHomeIndustry#1HeadlineNewsMHProNews

To see a sample of our emailed news update, click here. To sign up for the factory-built home industry’s #1 headline news, click here or the graphic above.

2) To pro-vide 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 Re-sources

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.

 

Related Reports:

You can click on the image/text boxes to learn more about that topic.

Current & Forecast Investing Habits of Millennials, $30 Trillion Dollar Transfer of Wealth Looms

Federal Economic Measures, Data at Close of 2018, and Manufactured Housing

Sobering Federal Report on Manufactured Housing Lending – Retailers, Communities, Producers, and Finance Companies – Take Note

 

New NAMHCO Association Challenges Manufactured Housing Institute on DTS, Financing, and More

Why Is Manufactured Housing Struggling During an Affordable Housing Crisis? Former MHI President, VP, Other’s Quotable Insights

 

 

 

 

 

 

 

 


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.