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Official Federal Housing and Construction Activity Report, Video

October 19th, 2018 Comments off

USOfficialHousingconstructionActivityReportNARSeptDailyBusinessNewsMHProNews
For the 6th month in a row, existing home sales have dropped, says the National Association of Realtors, as reported by CNBC.

 

  • U.S. home sales fell in September by the most in over two years as the housing market continued to struggle despite strength across the broader economy.
  • The National Association of Realtors ™ (NAR) said on Friday that existing home sales dropped 3.4 percent to a seasonally adjusted annual rate of 5.15 million units last month.

 

Among the factors cited were rising interest rates.

The median house price increased 4.2 percent from one year ago to $258,100 in September.

So why are manufactured homes still struggling to achieve 100,000 new home shipments a year?  Even adding in the cost of a home site, in the data summarized in the linked report below, reveals what should be a roaring manufactured housing market.

 

Fresh Facts, Figures, Future of Affordable Housing -Comparisons- Conventional Site-Built v Mobile/Manufactured Home Industry Data

 

For more on the question of why sales are so low, see the related reports, linked further below.  But next up, are the official HUD and U.S. Census Bureau residential construction data.

 

USCensusBureauHUDHousingUrbanDevelopmentPressReleaseMediaRelease

HUD AND CENSUS BUREAU REPORT RESIDENTIAL CONSTRUCTION ACTIVITY IN SEPTEMBER 2018

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for September 2018.

Building Permits: Privately owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,241,000. This is 0.6 percent (±1.2 percent)* below the revised August rate of 1,249,000, and is 1.0 percent (±1.2 percent)* below the September 2017 rate of 1,254,000. Single-family authorizations in September were at a rate of 851,000; this is 2.9 percent (±1.2 percent) above the revised August figure of 827,000. Authorizations of units in buildings with five units or more were at a rate of 351,000 in September.

NewResidentialConstructionHUDCensusBureauSept2018DailyBusinessNewsMHProNews

Housing Starts: Privately owned housing starts in September were at a seasonally adjusted annual rate of 1,201,000. This is 5.3 percent (±11.3 percent)* below the revised August estimate of 1,268,000, but is 3.7 percent (±12.1 percent)* above the September 2017 rate of 1,158,000. Single-family housing starts in September were at a rate of 871,000; this is 0.9 percent (±8.9 percent)* below the revised August figure of 879,000. The September rate for units in buildings with five units or more was 324,000.

Housing Completions: Privately owned housing completions in September were at a seasonally adjusted annual rate of 1,162,000. This is 4.1 percent (±11.3 percent)* below the revised August estimate of 1,212,000 but is 7.0 percent (±12.9 percent)* above the September 2017 rate of 1,086,000. Single-family housing completions in September were at a rate of 844,000; this is 8.7 percent (±8.4 percent) below the revised August rate of 924,000. The September rate for units in buildings with five units or more was 312,000.

NewResidentialConstructionHUDCensusBureauSAARTrendsSept2018DailyBusinessNewsMHProNews

 

The October report is scheduled for release on November 20, 2018.

 

EXPLANATORY NOTES

In interpreting changes in the statistics in this release, note that month-to-month changes in seasonally adjusted statistics often show movements which may be irregular. It may take three months to establish an underlying trend for building permit authorizations, six months for total starts, and six months for total completions. The statistics in this release are estimated from sample surveys and are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated relative standard errors of the most recent data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2 percent) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percentage change is likely to have occurred. All ranges given for percentage changes are 90 percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percentage changes shown in the tables. On average, the preliminary seasonally adjusted estimates of total building permits, housing starts and housing completions are revised 3 percent or less.

* The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

###

There are a range of factors that ought to be pointing to far higher sales by manufactured housing firms. See the related reports, further below. That’s “News through the lens of manufactured homes, and factory-built housing,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

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

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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:

 

Manufactured Housing Institute Shipment Data, FEMA, an Inside Look

New National Manufactured Housing Association Makes Its Appeal to Industry Members

Home Building in the United States Surges, Post Hurricanes

November 21st, 2017 Comments off

NewResidentialConstructionReleasedNov172017ForOct2017DataConventionalHousing-DailyBusinessNewsManufacturedHOusingMHProNewsThe U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2017,” begins a release to the Daily Business News.

Home building in the United States skyrocketed to a 12-month high in October, going by the Commerce Department data released on Nov 17,” commented an analysis by Nasdaq.

The feat was achieved after the effect of the two devastating hurricanes ebbed. Most of the gains came from the South and the Midwest. Texas and Florida, especially, reported gains, most of which were backed by repair and rebuilding in the hurricane-ravaged areas,” their report said.

BuildingPermitsHousingstartsHousingCompletionsNov2017ReportForOct2017

Nasdaq states “there can not be a better time to invest in home-building stocks.”

USHousingStartsHUDcommerceCensusBureauManufacuredHousingDailyBuisnessNewsMHProNews

Download the entire report, by clicking the graphic above or the link below. http://www.mhpronews.com/blogs/daily-business-news/wp-content/uploads/2017/11/HUDUSCensusBureaunewresconstDailyBusinessNews.pdf

Among the 5 operations they recommended was, “Universal Forest Products (UFPI) manufactures, treats and distributes lumber products for the manufactured housing, wholesale lumber and industrial markets.” UFPI is one of the stocks tracked on the Daily Business News market report. Last night’s closing number, including UFPI, are linked below.

DoJ Sues, Stops Vertical Mega Deal, Signal to Berkshire Hathaway & Manufactured Housing? MH Market UPdates

Compare to Manufactured Housing

A projection by one of the larger companies indicates that HUD code manufactured home shipments may finish the year at some 92,000 homes (+/-).

MobileManufacturedHomeAnnualShipments1959-2012CalculatedRisk-DailyBusinessNewsManufacturedHousingIndustryResearchReportsMHProNews

While the industry is “recovering,” it is still just a shadow of its previous highs or potential. Click the “What’s Holding the MH Industry Back?” to learn more.

The latest industry shipment report, and graphics are linked below.

Manufactured Housing Latest Shipment Data, Trends, Compared to Conventional Housing Growth

As MHProNews has reported, there is a need for over 8 million housing units.

Current and former managers with tech giants believe the only way to close the gap between the needs of the nation, and the ability to build enough homes are via factory building.

$58,000 PreFabs, Videos, Updates of More Hi-Tech Backers

A video seminar on how to attract more of those customers is linked below. ## (News, analysis, and commentary.)

Manufactured Housing Monday Morning Sales Meeting: Finance & Industry Facts, Figures, Sales Tip$ Improving Best Practice$

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Soheyla is a managing member and co-founder of LifeStyle Factory Homes, LLC the parent company to MHProNews and MHLivingNews.com.

Putting the Cart Before the Horse—Er, House—in Montana

June 26th, 2017 Comments off

Cartoon Credit: Missoula News

For several years, MHProNews has been following the booming growth of the Bakken oil field in western North Dakota, as in the example that is linked here.

The boom created an influx of thousands of job seekers, and their need for prompt availability of homes was primarily met with factory-built, or workforce housing.

That surge slackened when oil prices have fell.  It left a glut of empty housing.

Not far away in Missoula, Montana, the director of nonprofit Homeword, Andrea Davis, has long seen small manufactured homes as a gateway to homeownership for low income people.

When she saw the price tag of $35,000 for each home, appliances included, she ordered ten and figured she would determine how best to use them. (Most low-income housing projects start with demand.)

It was such a good opportunity that we didn’t want to let it go,” she says, but we didn’t have a project yet.”

Those 450 to 550 square foot homes were shipped to Missoula, per the Missoula News, and Homeword just received a $270,000 federal HOME grant awarded by the city this month.

New Frontier Tiny Home, 242 square feet, Credit: New Frontier

According to the Missoula Organization of Realtors, only eight percent of the homes sold last year in Missoula were priced under $150,000. Missoulians need an annual income of $63,000 to afford a median-priced home in the city. The HOME grant will allow five of the homes sold to people earning less than half that amount.

In many cases involving factory-built housing, zoning can be a problem as can objecting neighbors. Through discussions with other nonprofits, Davis has discovered an acre plot of land adjacent to the Missoula Food Bank where six of the units can be clustered on permanent foundations.

Including purchase of the property, installation of the homes and a little sprucing up, Davis figures the homes can be sold for $100,000 or less. “There’s just an opportunity to make these cute,” Davis says.

For purposes of comparison, $270,000 divided by five equals $54,000 for each home, if the total HOME grant is used for the total cost and installation of the homes. As MHProNews reported in a recent article, linked here, the Census Bureau reports that the average price in Dec. 2016, for a new single section, 14X70′ HUD Code manufactured home is $49,900.

Presuming that typical home in the Census Bureau reporting is a 924 square foot 14×70′ – consider the comparison. Granted, it’s nearly $15,000 more than the used Bakken oilfield home then Homeward paid, but that ‘average’ single sectional is also shiny, new and considerably larger.

Missoula, are you listening? ##

(Image credits are as show above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Matthew J. Silver to Daily Business News on MHProNews.)

MHARR to Secretary Perry: Withdraw Unnecessary MH Energy Rule

March 13th, 2017 Comments off
MHARRtoSecretaryPerryWithdrawUnnecessaryMHEnergyRulecreditNuclearTownHall-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credits: DOE, MHARR.

The Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews that it has formally called upon the Secretary of the U.S. Department of Energy (DOE), Gov. Rick Perry, to withdraw its proposed manufactured housing energy rule.

MHARR says that the proposed rule is “rooted in climate change activism and advanced by energy special interests through an illegitimate and scandal-plagued regulatory process, threatens to needlessly destroy the affordability of manufactured homes” and “simultaneously excludes millions of consumers from the manufactured housing market – and from home-ownership altogether.

According to MHARR, the proposed rule could increase the retail cost of an average multi-section manufactured home by $6,000.00 or more because regulatory compliance, testing and enforcement-related costs were never considered by DOE in developing the rule.

MHARRtoSecretaryPerryWithdrawUnnecessaryMHEnergyRulecreditWikipedia-RickPerry-postedtothedailybusinessnewsmhpronewsmhlivingnews

DOE Secretary Rick Perry. Credit: Wikipedia.

MHARR has been on the record as an opponent of both the proposed DOE rule and the “fundamentally-tainted administrative process” that led to its adoption.

In a November 2016 letter, the organization called for the DOE “to cease and desist from any further activity on the proposed manufactured housing rule pursuant to Congress’ November 15, 2016 warning to all federal agencies against finalizing any pending rules or regulations in the Obama Administration’s last days.

m_mark_weiss_mharr_pesident__mhpronews__credit

M. Mark Weiss. Credit: MHProNews.

The DOE manufactured housing ‘energy’ rule is a textbook example of a destructive, big government ‘solution’ in search of a problem. Manufactured homes, comprehensively regulated by the U.S. Department of Housing and Urban Development, already have median energy operating costs that are less than, or comparable to, other types of housing, according to the U.S. Census Bureau,” said MHARR President and CEO Mark Weiss.

To single out manufactured homes and their mostly lower and moderate-income buyers for what amounts to a huge, regressive tax that would devastate both them and the industry in order to satisfy special interests, is incomprehensible, indefensible and precisely the type of baseless, damaging federal regulation that President Trump has vowed to eliminate.

The full letter from Weiss to Secretary Rick Perry is linked here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

2015’s New Home Sales Best in Nine Years

January 28th, 2016 Comments off

homebuilders__biz_journals__creditData released by the Census Bureau and the Department of Housing and Urban Development (HUD) reveal sales of new, single-family homes rose 14.5 percent in 2015 to 501,000 units, the highest number since 2007, according to lbmjournal.

In Dec. alone sales were up 10.4 percent over Nov. 2015 to a seasonally-adjusted annual rate (SAAR) of 544,000.

Relatively low interest rates and an improving economy are motivating buyers to make a new-home purchase,” said NAHB Chief Economist David Crowe. “Builders are upping their inventory in response to heightened consumer interest. Housing inventory is now at its highest level since October 2009.”

All four regions saw sales rise. The Midwest saw the largest rise, at 31.6 percent, followed by 21 percent rise posted in the West. The Northeast gained 20.8 percent, while the South saw a much more modest rise of 0.4 percent.

As MHProNews understands, the inventory of new homes for sale stood at 237,000 units at the end of the year, equivalent to a 5.2 month supply at the current pace. ##

(Photo credit: bizjournals)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Modular Home Builders Pushing to Dispel Myths of Factory Built Homes

December 29th, 2015 Comments off

modular  shutterstock  creditWith a labor and available lot squeeze driving up the price of site-built homes, bloomberg reports modular homes present a viable alternative, less costly and a quicker build time than site-built, although in appearance, they might be very little different than site-built.

The median construction cost for modular comes in at $146,000, over $50,000 less than a comparable stick-built home, according to figures supplies by the National Association of Home Builders (NAHB).

The median square foot value for modular in 2014 was $76, $8 less than that for site built, even if the modular home is highly customized. According to NAHB statistics, construction time for modular was 5.4 months versus 6.2 months for site built, and as MHProNews knows, modular homes are built inside a factory, away from inclement weather that can damage materials and stall progress.

Modular home construction methods are much more common in Scandinavia than in the U. S. where factory-built homes comprised only two percent of single-family homes completed in 2014, down from four percent in the late 1990s.

Modular is utilized more for businesses in the U. S. for everything from cruise ships to hospitals, hotels and retail businesses.

According to the U. S. Census Bureau, modular single-family homes have been more prominent in the Northeast, where in Jan. 2014 they comprised eight percent of new homes, as compared to two percent in the Midwest and one percent in the South.

However, a stigma remains because of their association with manufactured homes, and the Modular Home Builders Association is trying to break this misconception by coordinating a national marketing effort to dispel the myths. ##

(Photo credit: shutterstock-modular home being sited)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Building Permits, Groundbreakings Up for the Month and Year

December 17th, 2015 Comments off

home planning     theatlanticcities  creditResidential building permits rose 11 percent over October, 2015, and 19.5 percent higher than Nov. 2014, according to what realtor reports from the statistics issued by the Census Bureau and the Dept. of Housing and Urban Development (HUD). Multifamily building permits rose 30.8 percent month-over-month and 38.9 percent year-over-year. The West and the Midwest both reported gains of 22 percent in November. The South saw a 5.6 percent gain over the previous month, while in the Northeast there was no change.

MHProNews has learned housing starts moved up 10.5 percent from last month, and 16.5 percent up over last Nov. But numbers were mixed when it comes to completions: completions fell 3.2 percent from October but rose 9.2 percent over November 2014.

Realtor Economist Jonathan Smoke, commenting on the tight inventory in the real estate market, said, “This is precisely the direction we need to address the fact that we have a housing shortage that is causing both prices and rents to increase, and the pace of new construction has not been keeping pace with the rate of household formation. ##

(Image credit: theatlanticcities–home planning)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

New Home Sales Post Strong Numbers for October

November 28th, 2015 Comments off

new home construction  housingwire creditAccording to nasdaq, data released by the Census Bureau and the Department of Housing and Urban Development indicate sales of new, single-family homes rose 10.7 percent in October to a seasonally-adjusted annual rate (SAAR) of 495,000 units, up from September’s revised numbers of 447,000. The rate is a 4.9 percent improvement from last year at this time.

New home inventory for sale, up 1.3 percent from the previous month as well as the highest level this year, was 226,000 units at the end of October, equal to a 5.5 months supply at the current pace of sales. The median sales price of a new single-family home fell six percent from October 2014 to $281,500.

These numbers are in contrast to other housing figures: housing starts fell 11 percent in October, existing home sales dropped 3.4 percent, and the National Association of Home Builders (NAHB) tells MHProNews homebuilders sentiment slipped three points to 62.

However, the bottom line indicates this year has been overall good for the housing market, probably the best since 2007, as the economic environment and employment picture improved. Despite the likelihood of a hike in interest rates in the near future, rising consumer confidence, the better job market, moderating home prices, rising household formation and rising rentals point to continuing momentum in the demand for housing in 2016. ##

(Photo credit: housingwire-new home construction)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Built-to-rent Homes Increase

November 25th, 2015 Comments off

house under const  naked philly  creditMHProNews has learned from builderonline that construction of single-family homes built specifically as rental units rose to 9,000 units for Q3 2015, compared to 7,000 for the same period last year. Robert Dietz of the National Association of Home Builders (NAHB) looks at statistics from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design to extrapolate these numbers.

Although the total number of built-for-rent share of single-family homes (only 28,000 homes were started in the last year) is a low percentage of the single-family home portion of the rental housing stock, the increase is indicative of the demand for rental units overall. The low inventory of homes for sale has pushed prices beyond the reach of many would-be home buyers, as tight credit and student debt—especially among would-be first-time homebuyers– has reduced the ability of many to save enough for a down payment, resulting in demand for rental units.

(Photo credit: nakedphilly–home under construction)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Housing Starts Fall in October, while Building Permits Rise

November 20th, 2015 Comments off

new home const   sue orgocki  associated press  creditFollowing numbers from the National Association of Home Builders (NAHB) that show builder confidence slipped three points in October, zacks tells MHProNews that figures released by the Department of Housing and Urban Development (HUD) and the Census Bureau reveal housing starts in October dropped 11 percent to a seasonally-adjusted annual rate (SAAR) of 1.06 million units.

Hitting the lowest level since March 2015, the October drop was lower than expectations, and may have been in part due to construction delays in the South as the result of flooding.

Single-family housing starts declined 2.4 percent, while multifamily starts, which were strong enough in recent months to put a positive spin on the housing market, plummeted 25.1 percent. Moreover, housing starts declined 1.8 percent year-over-year.

Somewhat offsetting to the housing starts drop, building permits rose 4.1 percent in October over the previous month, which may indicate construction activity may be stronger in November. Permits rose 2.4 percent for single-family homes and 6.8 percent for multi-family, indicating the continuing demand for apartments. Also, permits rose 2.7 percent year-over-year.

Analysts see the slow down in November as a temporary, and perhaps, seasonal setback, since the fourth quarter is typically the slowest for construction activity due to the cooler weather.

Overall, the improving economy and job market, combined with low interest rates, helped spur the housing market into a good year in 2015, and economists sense the momentum may carry into 2016. ##

(Photo credit: associatedpress/Sue Orgocki–new home construction)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.