Archive

Posts Tagged ‘Dallas’

Case-Shiller Numbers Release make Case for Manufactured Housing

May 31st, 2017 Comments off
CaseShillerHomePriceNumbersReleasedcreditMHProNews-postedtothedailybusinessnewsmhpronewsmhlivingnews

The latest numbers support the argument that manufactured housing is the answer. Credit: MHProNews.

New numbers released from the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index this week, show a 5.8 percent annual gain in March, up from 5.7 percent in February.

The numbers represent a 33-month high.

According to Builder, Seattle, Portland, and Dallas reported the highest year-over-year gains among the 20 cities measured. Seattle led the way with a 12.3 percent year-over-year price increase, followed by Portland coming in at 9.2 percent, and Dallas finished with an 8.6 percent increase.

Home prices continue rising with the S&P CoreLogic Case -Shiller National Index up 5.8 percent in the year ended March, the fastest pace in almost three years,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.

While there is some regional variation, prices are rising across the U.S. Half of the 20 cities tracked by the S&P CoreLogic Case-Shiller indices rose more than 6 percent from March 2016 to March 2017. The smallest gain of 4.1 percent, in New York, was roughly double the rate of inflation.”

CaseShillerHomePriceNumbersReleasedcreditBuilder1-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Builder.

Prior to seasonal adjustments, the National Index posted a month-over-month gain of 0.8 percent in March, and after seasonal adjustment, the number showed a 0.3 percent month-over-month increase.

Sales of both new and existing homes, housing starts and the National Association of Home Builders’ sentiment index are all trending higher. Over the last year, analysts suggested that one factor pushing prices higher was the unusually low inventory of homes for sale. People are staying in their homes longer rather than selling and trading up,” said Blitzer.

If mortgage rates, currently near 4 percent, rise further, this could deter more people from selling and keep pressure on inventories and prices. While prices cannot rise indefinitely, there is no way to tell when rising prices and mortgage rates will force a slowdown in housing.”

CaseShillerHomePriceNumbersReleasedcreditBuilder2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Builder.

 

The Impact… and the Opportunity 

Blitzer’s comment regarding home prices and pressure on inventories presents an interesting scenario.

Numbers from the National Association of Realtors (NAR) last week showed existing homes stayed on the market for less time in April than in any month since 2011, but tight inventory drove a decline in existing home sales over March’s record pace.

Demand from buyers is still far exceeding the available supply, leading to both the decline in existing home sales and the fact that homes are flying off the market,” said Lawrence Yun, NAR’s chief economist.

Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase.”

Yun continued, focused on the root of the issue.

Realtors continue to voice the frustration their clients are experiencing because of the insufficient number of homes for sale,” said Yun.

Homes in the lower- and mid-market price range are hard to find in most markets, and when one is listed for sale, interest is immediate and multiple offers are nudging the eventual sales prices higher.”

The challenges referenced by Yun show a site built housing market that is, by all accounts, upside down. Demand for affordable housing is outstripping supply, keeping those who would otherwise be able to realize the dream of home ownership from doing so.

Customers quickly discover that when home shoppers give a good, careful look at today’s residential style manufactured and modular homes, many are saying ‘yes.’

With interest rates rising, and more cities considering or being urged to accept manufactured homes as infill, the manufactured home industry’s opportunities are rising.

As the Daily Business News has covered, the Manufactured Housing Association for Regulatory Reform has made similar points, and is calling for a full implementation of the law – notably the Manufactured Housing Improvement Act of 2000 (MHIA 2000) – as a key way to fuel more industry sales to meet the demands of an affordable home-hungry public. ##

 

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

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, MHProNews.

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

 

(Copyright Notice: This and all content on MHProNews and MHLivingNews always have been and are Copyrighted, © 2017 by MHProNews.com a dba of LifeStyle Factory Homes, LLC – All Rights Reserved. No duplication is permitted without specific written permission. Headlines with link-backs are of course ok. A short-quoted clip, with proper attribution and link back to the specific article are also ok – but you must send a notice to iReport

Ellis Modular Seeking Government Contracts

May 6th, 2014 Comments off

Specializing in modular units for industry, business, education and health facilities, Ellis Modular is now pursuing federal contracts through the General Services Administration. “The opportunity to service government accounts opens up significantly more markets throughout the region as our goal continues to be to expand our modular solutions business,” states Tom Lee, Director of Business Development at Ellis Modular, according to PRNewswire.com. The company intends to extend its reach into state and local municipalities, MHProNews.com has learned. Their turn-key communities for workforce housing, especially in the energy exploration arena, are designed for rapid deployment. ##

(Photo credit: Josh Polson/greeleytribune.com–Thomasine Azure building workforce housing)

Drew Contracts with Aluminum Extruder

April 14th, 2014 Comments off

Manufactured housing component supplier Drew Industries, Inc. through it wholly-owned subsidiary Lippert Components, Inc. has entered into a six-year aluminum extrusion agreement with Atrium Windows & Doors of Dallas. Drew’s president, Scott Mereness, says the deal means Drew will be able to acquire its extruded aluminum products at a competitive price for the length of the contract. The COO of Atrium, Brian Slobodow, says his company has been extruding aluminum for 35 years and this volume will add to capacity utilization. In addition, as marketwatch.com informs MHProNews.com, Drew sold some of its aluminum extruding assets to Atrium for $7.5 million, payable over four years. ##

(Image credit: Drew Industries, Inc.)

Applicant Requests Property be Rezoned for Manufactured Home

February 26th, 2014 Comments off

The Kilgore (Texas) City Council at its regular session will consider a request to change the zoning of property located east of the intersection of Peavine and Harvey Roads from commercial to single-family manufactured housing, according to news-journal.com. Kilgore is in northeast Texas, east of Dallas. MHProNews.com knows Texas is the number one state in terms of manufactured home shipments. ##

(Photo credit: trulia.com–manufactured home, San Benito, TX)

Housing Market Recovery Spreads

December 31st, 2013 Comments off

As nationalmortgagenews.com informs MHProNews, 84 of the largest 300 housing markets have regained 100 percent of home values since the housing bubble, accounting for nearly 30 percent of tracked markets. Only nineteen markets had a decline in home values, while the remaining markets showed a rise of 50 basis points. 158 of the markets have recovered 50 percent of their original value pre-recession. Of the top ten markets with the largest percentage of recovery, the top four are in Texas—San Antonio, Houston, Austin and Dallas.

(Photo credit: Matt Heafey)

Time For Sale Homes Remain on Market Declines

November 14th, 2013 Comments off

According to data collected by Zillow, homes listed for sale nationwide sold a month faster in September, 2013 than in Sept. 2012, falling from 116 days to 86 days. Covering the 30 largest metro markets, where homes sold faster this Sept. compared to last, homes that moved the fastest and spent the fewest days listed on Zillow include the markets in San Francisco Bay Area (48 days), Sacramento, Calif. (59 days), and Dallas (60 days). As wsj.com tells MHProNews, by calculating the median number of days listings remained on Zillow at the national, metro and county levels, Zillow determined since the beginning of 2010 homes stayed on listings for an average of 119 days. Zillow Chief Economist Stan Humphries says, “The declining inventory of for-sale homes over the past year naturally creates pressure for buyers to more quickly snap up the inventory that is on the market. We do expect that this need for speed will abate in the near-term as mortgage rates rise and more inventory becomes available because of new construction and declining negative equity.”

(Photo credit: mattheafey)

New York Land Lease Community Changes Hands

October 23rd, 2013 Comments off

Atlanta, Georgia-based investment advisory brokerage firm ARA announces the sale of Saratoga Hills manufactured housing community in Stillwater, New York, 24 miles from Albany. Saratoga is an all-age community of 300 homesites sitting on 91 acres with a mix of single and multisection homes. According to nreionline.com, the seller is a commercial real estate investment firm in Dallas; the buyer is a private owner/operator. Although the selling price was not disclosed, MHProNews has learned independently the community was listed at $7.1 million in July of this year, and has room to expand the number of homesites. Constructed in 1970, the seller acquired the non-performing mortgage on the property ten years ago, connected it to public water and sewer and increased the occupancy to 73 percent.

(Photo credit: mobilehomeparkstore–Saratoga Hills)

Fed Reports Increased Real Estate Activity

February 29th, 2012 Comments off

Construction Site in Dallas, Eric Miller PhotoReports from the twelve Federal Reserve Districts suggest that overall economic activity continued to increase at a modest to moderate pace in January and early February. The Fed reports manufacturing continued to expand at a steady pace across the nation, with many districts reporting increases in new orders, shipments, or production and several districts indicating gains in capital spending, especially in auto-related industries. Activity in nonfinancial services industries remained stable or increased. Reports of consumer spending were generally positive, except for sales of seasonal items. Residential real estate market conditions improved somewhat in most districts, with several reports of increased home sales and some reports of increased construction. Residential real estate activity increased modestly in most Districts. Boston, Cleveland, Richmond, Atlanta, Kansas City, and Dallas reported growth in home sales, while New York noted steady to slightly softer home sales. Philadelphia reported strong residential real estate activity. In contrast, home sales declined in St. Louis and San Francisco noted that home demand persisted at low levels. Boston, Atlanta, Chicago, Minneapolis, Dallas, and San Francisco reported increased multifamily construction activity. Banking conditions generally improved across the districts. Of the districts reporting on hiring, most indicated a slight increase. Prices of final goods and services were relatively stable in most districts.

(Image Credit: Eric Miller)

Inventory of For Sale Homes Falls

December 1st, 2011 Comments off

RealtorMag reports the inventory of homes for sale fell to its lowest level in four years in October, according to data from Multiple Listing Service (MLS). Zelman and Associates says many sellers are taking their homes off the market because they are receiving low-ball bids, and banks are in no hurry to process additional foreclosures. The inventory of homes on the market fell 3.5 percent from September 2011 to 2.12 million homes. That number declined by 21 percent from October of last year. Portland, Oregon, saw the inventory of homes for sale fall by 6.9 percent. In Seattle it dropped 5.3 percent and in Dallas by 5.2 percent.

(Photo credit: Wikipedia)

Fannie Mae Opens Dallas Help Center

December 14th, 2010 Comments off

Housingwire reports that Fannie Mae will open a mortgage help center for troubled borrowers in Dallas on Dec. 17. Centers have also been opened in Atlanta, Chicago, Los Angeles, Miami and Phoenix. The report says Dallas-Fort Worth foreclosure postings at local county courthouses reached nearly 64,000 in 2010, a record high for one year, according to Foreclosure Listing Service, which tracks local numbers.