Posts Tagged ‘measures’

Improving Housing Market Hits Highest Level

September 9th, 2013 Comments off

The National Association of Home Builders (NAHB) reports 44 markets have been added to the First American Improving Markets Index (IMI) for Sept., bringing the number to 291, the highest number since the index began two years ago. Based on improvement in housing permits, employment and home prices for at least six months, only five markets were dropped from the list in Sept. “The dramatic increase in markets qualifying for the IMI in September was partly due to a recent improvement in the way that Freddie Mac measures home prices, which resulted in stronger gains than previously reported,” noted NAHB Chief Economist David Crowe. “Even so, the broadened list of metros on the IMI continues to demonstrate the slow but steady gains that individual housing markets are making to bolster the national outlook.” As MHProNews has learned, every state has at least one county that is part of an improving market.

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City Planners Restricting Manufactured Housing Sites

July 16th, 2013 Comments off

The Magnolia, Ark. Planning and Zoning Commission has proposed restricting manufactured homes (MH) to R-3 zoning, thereby keeping it out of R-2 and R-1 zoning. The new measure would require amending zoning laws for most of this whole city, located in southwestern Arkansas, as MHProNews has learned, affecting hundreds of homes. By law a sign must be posted in every yard that is up for the change, and each property subject to rezoning must be published. Commissioner Christine Durham will seek an alternative to this costly legal notice. The second ordinance reflects state code that requires manufactured homes to have porches, skirting, roofs that blend with the house and driveways. If the Magnolia City Council approves these measures, the planning commission wants to also change zoning in five other areas that would further restrict the siting of manufactured homes, according to magnoliareporter.

(Photo credit: Michael Mercier/huntsvilletimes)

Housing Market Index Posts Largest Gain in over Ten Years

June 17th, 2013 Comments off

For the first time in seven years, builder confidence for newly-built single-family homes has surpassed the 50th percentile mark, which indicates builders see the market as good rather than poor. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) gained eight points to 52. Based on a survey the NAHB has been conducting for 25 years, the HMI measures builder perceptions of current sales, prospective buyers, and sales expectations for the coming six months. The index has not risen eight points since the fall of 2002. “This is the first time the HMI has been above 50 since April 2006, and surpassing this important benchmark reflects the fact that builders are seeing better market conditions as demand for new homes increases,” said NAHB Chairman Rick Judson. Regionally, the Northeast, South and Midwest all posted gains while the West fell one point, as MHProNews has learned.

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Measures before the Texas Legislature

February 15th, 2013 Comments off

MHProNews has learned from the Texas Manufactured Housing Association (TMHA) of the four measures in the hopper of the Texas Legislature that could affect the factory-built housing industry. HB 578 would establish state regulatory authority over modular housing, a bill TMHA supports because of the losses modular producers have suffered over the years. HB 944 would allow an exemption from license requirements for selling a limited number of manufactured homes. Since current law requires an MHC owner to obtain a retail license if he/she sells just one MH in 12 months, HB 610 would provide a limited exclusion to this requirement if manufactured homes were sold in conjunction with the sale of a manufactured home community. In response to a fraudulent MH dealer whose customers may be eligible for compensation from the manufactured homeowner’s Recovery Trust fund, SB 499 would allow either a jury or bench trial to determine eligibility.

(Image credit: City of Pecos, TX)

Senior Housing Market Looking Up

February 12th, 2013 Comments off

The National Association of Home Builders (NAHB) informs MHProNews builder confidence in the 55+ housing market for single-family homes grew by ten points in the fourth quarter 2012 versus the same period the year previous. NAHB’s Housing Market Index (HMI) measures builder sentiment based on current sales, prospective buyer traffic, and anticipated sales for six months. Although the indices are all below 50, which is the divide between a good and a poor market, all three components improved from a year ago. NAHB Chief Economist David Crowe says, “Like the overall housing market, the 55+ segment of the market is undergoing a slow but steady recovery. While problems with tight credit conditions for buyers and obtaining accurate appraisals are still lingering, new problems like spot shortages and rising costs for labor, materials and lots are beginning to emerge.”

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NAHB: Housing Market Continues Upward

February 6th, 2013 Comments off

The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) reports the number of improving housing markets grew in Feb. to 259, up from 242 markets in Jan., and now includes all 50 states and the District of Columbia. The IMI measures changes in housing permits, employment, and house prices for six consecutive months. “The fact that all 50 states now have at least one metro on the improving list shows that the housing recovery has substantial momentum and continues to expand from one market to the next,” said 2013 NAHB Chairman Rick Judson, as MHProNews has learned. “Just over 70 percent of the 361 metros covered by the IMI are listed as improving this month,” said NAHB Chief Economist David Crowe. “That’s a far cry from when we initiated this index with just 12 improving metros in September of 2011 for the purpose of highlighting places that didn’t fit the mold of the national headlines.”

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T. J. T. Reports Substantial Drop in Sales

January 26th, 2013 Comments off

DailyFinance tells MHProNews T. J. T., Inc., based in Eagle, Idaho reports a net loss of $1,149,000, $.25 a diluted share, for fiscal year 2012 for this supplier of axles, tires and set-up supplies for the MH industry. Lower sales volume combined with an increase in SG&A (selling, general and administrative expenses) led to the net loss, which includes a $340,000 loss in Q4 2012. Sales plummeted 57 percent to $821,000 in the fourth quarter compared to the same period 2011. On the year, sales fell 34 percent to $4,004,000 in 2012 for the FY ending Sept. 30, 2012 compared to the previous fiscal year totals. The company formed T. J. T. Transit, LLC in Oct. 2012, a wholly-owned subsidiary designed for the transport of manufactured housing, modular buildings and man camps, which is set to be operational in early 2013. Due to cost-saving measures being taken by the company, T. J. T. will no longer file quarterly or annual reports for public perusal.

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City Council Repeals Rules Governing MH

September 20th, 2012 Comments off

Following-up on a story we published Aug. 7, 2012 regarding measures passed by the Marion, North Carolina City Council July 17 to regulate placement and structural standards of new manufactured housing, mcdowellnews reports the council voted unanimously to repeal the new rules. Local real estate agent Mark Shuman pointed out the new rules were contrary to federal and state law because they restrict siting of new and pre-HUD Code manufactured housing. Additionally, the requirements to make their roofs and foundations blend in with site-built homes infringes on property rights, and puts an economic hardship on people of modest means. The proposed regulations did not apply to manufactured housing in communities, to modular homes or existing homes. Shuman suggested in the future the planning board and the city council need to research their proposals better. MHProNews has learned Mayor Steve Little said he will appoint a committee to focus on different rules, suggesting it meets with manufactured home dealers, real estate agents and landlords.

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Contact Your Congressional Representatives NOW

August 20th, 2012 Comments off

The Manufactured Housing Institute (MHI) tells MHProNews with Congress in recess until mid-Sept. and members back in their home districts, now is the time to contact your representative and senator and encourage them to co-sponsor HR bill 3849 or Senate bill 3484, both entitled Preserving Access to Manufactured Housing. While the bipartisan House bill was introduced in January by three representatives, the Senate companion legislation was filed last week. Although the measures are slightly different, both focus on providing support fo the MH industry. For a list of the 40 plus co-sponsors of the House bill, sample letters to be sent to your congressional representatives, and the differences between the two bills, please click here.

(Image credit: Manufactured Housing Institute)

Home Builders Confidence Inches Up

June 19th, 2012 Comments off

MHProNews has learned from the National Association of Home Builders (NAHB) their Wells Fargo Housing Market Index (HMI) reports builder confidence in the market for new, single-family homes rose one point in June, to 29, the highest level attained since May of 2007. Based on a 25 year-old survey, the HMI measures builders expectations for the next six months based on current building activity and prospects’ inquiries. A number over 50 indicates builders’ see conditions as good rather than poor. Regionally, the Midwest and West posted gains, while the South and Northeast indicated decline.

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