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Posts Tagged ‘South’

Tornadoes, Severe Weather Ravage South, Misconceptions Abound

January 23rd, 2017 Comments off
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Conventional housing destroyed on the left, reported ‘mobile home’ on the right. Credit: FOX News.

The southern U.S. was severely affected this weekend, as tornadoes and storms destroyed homes, injured dozens and killed 16.

According to the Chicago Tribune, a tornado blew through a manufactured home community in rural Cook County in southern Georgia causing damage and killing seven people.

The tornado leveled the park [sic] before dawn Sunday,” said Coroner Tim Purvis.

Emergency responders searched for survivors for hours after the twister struck.”

Purvis also said the community had about 40 manufactured homes, and roughly half were destroyed.

As Daily Business News readers are aware, officials, news agencies and the general public continue to specifically point out manufactured homes and communities – often identified incorrectly as “mobile homes” and “mobile home parks” – vs. site-built homes in damage reports.

On average, about 1 in 5 structures identified as “mobile homes” by the media are in fact pre-HUD code mobile homes.  They are routinely the ones that suffer the most damage, because HUD Code manufactured homes are more durable by design.

Where a storm strikes determines if more site-built housing is destroyed than factory-built homes.  See the related report, linked here. For example, in Joplin, MO, the deaths reported in 2011 were in conventional housing.

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Damage to a site-built home in Cook County, Georgia. Credit: Chicago Tribune.

As the video below shows, tornadoes, hurricanes and other natural disasters do not discriminate between site built homes, manufactured homes, apartments or any other structure. It should also be noted that properly installed manufactured homes that are built to HUD code are designed to withstand the same elements as site-built homes.  For an interview related on that topic with a former federal official, please click here.

Proof of Parity

Not far from the manufactured home community, Jenny Bullard, injured and wearing a sling on her arm, combed through the rubble of her family’s site built brick house.

All that remained standing Sunday afternoon was the master bedroom and parts of the kitchen.

It’s a horrible tragedy,” said Bullard.

But all this stuff can be replaced. We can’t replace each other. We’re extremely lucky.”

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Jenny Bullard picks up the pieces in her family’s damaged home. Credit: Chicago Tribune.

Per the Tribune, Bullard said she awoke before dawn Sunday to the sound of hail pounding the roof. When she went outside her bedroom door, a collapsing wall in the hallway knocked her down.

She managed to get up and found her father calling for her, trapped under a pile of debris.

She pulled him free, and they found her mother in the master bedroom. They escaped by climbing over piles of furniture and debris where the wall to their home office once stood. Their home was one of many.

A number of homes appeared to be destroyed along a road within about two miles of the manufactured home community, with cinderblocks scattered on the ground, and pine trees uprooted and snapped in half.

President Donald Trump said that he spoke with Georgia Governor Nathan Deal on Sunday and expressed his condolences along with his commitment to help.

Tornadoes were vicious and powerful and strong, and they suffered greatly,” said Trump. “So we’ll be helping out the state of Georgia.

An in-depth report that corrects the record on tornadoes, hurricanes, conventional housing and manufactured housing 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.

Pending Home Sales Rise in July

September 3rd, 2014 Comments off

pending sale  paul sakuma  AP Photo creditThe Pending Home Sales Index (PHSI) rose 3.3 percent in July over June to 105.9, marking an increase in the National Association of Realtors (NAR) measuring stick for four of the last five months, with three of the four regions registering an increase. While still below July, 2013 (108.2), according to worldpropertychannel.com, the index is at its highest level since Aug. 2013 (107.1)–100 is considered an average level for the index. NAR Chief Economist Lawrence Yun, noting prices are moderating and more new and existing inventory is available, says, “Steady job additions to the economy are helping family finances and giving them added confidence to enter the market.”

Regionally, the PHSI climbed in the Northeast 6.2 percent to 89.2, and now is 8.3 percent above last year, perhaps, as MHProNews understands, in response to the rebuilding efforts following Hurricane Sandy. The index rose 4.2 percent in the South to 119.0 but is one percent below a year ago. The West marked an increase of 4.0 percent in July to 99.5 but stands 6.0 percent below a year ago, while the Midwest registered a minor drop of 0.4 percent in July to 104.6 and remains 6.4 percent below July, 2013. Yun anticipates existing home sales will be below last year’s 5.09 million sales by 2.1 percent at 4.98 million. ##

(Photo credit: Paul Sakuma/Associated Press)

New Home Sales Fall Second Consecutive Month

September 2nd, 2014 Comments off

home building   fotosearchAccording to numbers released by the U. S. Department of Housing and Urban Development (HUD) and the U. S. Census Bureau, sales of newly-built single-family homes dropped 2.4 percent to a seasonally-adjusted annual rate of 412,000 units in July. Initially, according to the National Association of Home builders (NAHB), sales fell 8.1 percent in June, as MHProNews reported July 28, 2014, but that number was revised upward 16,000 units to 422,000. Regionally, the Northeast saw new home sales fall 30.8 percent, sales fell 15.2 percent in the West, and in the Midwest new home sales dropped 8.8 percent. In the country’s largest region, new homes sales improved 8.1 percent in the South. ##

(Photo credit: fotosearch.com)

Pending Home Sales Rise 0.3 Percent

May 30th, 2014 Comments off

For the second straight month, pending home sales rose in April to 97.8 from 97.4, according to the National Association of Realtors (NAR) Pending Home Sales Index (PHSI), an indicator based on signed contracts., reports worldpropertychannel.com. Although the index is 9.2 percent below April 2013, NAR Chief Economist Lawrence Yun says, “Higher inventory levels are giving buyers more choices, and a slight decline in mortgage interest rates this spring is raising prospective home buyers’ confidence. An uptrend in closed sales is expected, although some months will encounter a modest setback.”

Regionally, the PHSI for the Northeast rose slightly, +0.6 percent to 79.3 in April, while in the Midwest the index rose 5.0 percent to 99.2, MHProNews understands. Pending home sales in the South fell 0.6 percent to 111.9; the West fell 2.9 percent in April to an index of 88.4. All regions are 6.9 percent to 15 percent below April 2013 indexes. Annual existing home sales are anticipated to be below the 5.1 million last year. ##

(Image credit: etftrends.com)

New Home Housing Market Index Drops two Points

October 16th, 2013 Comments off

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports builder confidence dropped two points to 55 in October due in part to continuing challenges in the marketplace coupled with rising interest rates and uncertainty in Washington. However, any score above 50 indicates builders see the market as “good” as opposed to “poor”. The score is based on builders perceptions of current single-family home sales, traffic of prospective buyers, and sales expectations for the next six months. Says NAHB Chief Economist David Crowe, “ A spike in mortgage interest rates along with the paralysis in Washington that led to the government shutdown and uncertainty regarding the nation’s debt limit have caused builders and consumers to take pause. However, interest rates remain near historic lows and we don’t expect the level of rates to have a major impact on sales and starts going forward. Once this government impasse is resolved, we expect builder and consumer optimism will bounce back.” Regionally, as MHProNews has learned, the South was unchanged at 56, the Midwest gained a point to 64, while the Northeast fell three points and the West fell one point to 60.The partial shutdown has prevented the U. S. Census Bureau from releasing September’s statistics on housing starts, but NAHB’s own figures estimate 900,000 starts in Sept., with 620,000 to 630,000 as single-family homes.

(Photo credit: housingwire)

Home Prices Continue Downward

January 10th, 2012 Comments off

According to CoreLogic’s Home Price Index, home prices for November 2011 fell 4.3 percent compared to November 2010. For the fourth consecutive month in a row home prices declined, falling 1.4 percent October to November, 2011. Mark Fleming, CoreLogic’s chief economist, is quoted in HousingWire saying, “With one month of data left to report, it appears that the healthy, non-distressed market will be very modestly down in 2011. Distressed sales continue to put downward pressure on prices, and is a factor that must be addressed in 2012 for a housing recovery to become a reality.” When including distressed sales, the five top states where home prices appreciated the most are Vermont, South Carolina, District of Columbia, Nebraska, and New York. States with the highest depreciation rates include Nevada, Illinois, Minnesota, Georgia, and Ohio. The depreciation rates in the worst states were, in some cases, five times the appreciation rate in the states with the most gains.

(Photo credit: MattHeafey)

Report: U.S. Home Prices Flat

December 12th, 2011 Comments off

A new report from Clear Capital find that quarter-over-quarter home prices remained flat, posting a slight a 0.3 percent increase, down from the 0.6 percent quarterly increase reported last month. Moreover, quarterly price movements have become more aligned across the four regions within the U.S., with only 2.0 percentage points separating the highest performing region (Midwest at 1.2 percent) and the lowest performing region (West at -0.8 percent). Concerning metro areas, the report found the Atlanta MSA bucked the nationwide trend of stability, posting a -9.7 percent drop in prices quarter-over-quarter. “The overall market stability in this month’s report gives me hope that housing markets are settling after a very turbulent two years,” says Dr. Alex Villacorta, Director of Research and Analytics at Clear Capital. “With only a one percent drop in national home prices since January and virtually no change in prices over the last six months, strong evidence suggests the big swings that many market participants are accustomed to could become a thing of the past.

(Image Credit: Clear Capital)

Home Builders: 30 Points from Condition “Good”

November 17th, 2011 Comments off

The National Association of Home Builders reports builder confidence rose in November three points to 20 on the NAHB/Wells Fargo Housing Market Index (HMI) for newly-built single family homes. Building on a three point increase from October, the HMI is at its highest point in 18 months. NAHB Chief Economist David Crowe said, “This second consecutive gain in the HMI is evidence that well-qualified buyers in select areas are being tempted back into the market by today’s extremely favorable mortgage rates and prices…these (are) pockets of improving conditions that are slowly spreading.” The index measures builders perceptions of current single-family home sales and expectations for the next six months. Any number above 50 indicates conditions are “good” rather than “poor.” Regionally, the Northeast saw a three point gain to 17, the Midwest advanced eight points to 23, and the South rose three points to 21. The West had posted a large October increase, but lost six points this month to 15.

(Graphic credit: NAHB)

Growth in New Single-Family Home Sales

October 26th, 2011 Comments off

MHProNews has learned that the U.S. Commerce Department reports newly-built, single-family home sales rose 5.7 percent in September, recording their best growth in five months, to a seasonally-adjusted rate of 313,000 units. “The improved rate of new-home sales in September is on par with NAHB’s forecast for the overall number of sales this year and in keeping with the spotty improvements that our latest builder surveys have highlighted in select markets,” said NAHB Chief Economist David Crowe. “While 313,000 is still an exceptionally low rate of new-home sales by historic standards, it is an encouraging sign of an anticipated broader recovery over the course of next year, and builders have helped the situation by keeping their inventories of homes for sale very lean in areas where there is an oversupply of existing units.” Regionally, the South showed the best new home sales gain at 11.2 percent, and the West had 9.7 percent. Meanwhile, the Midwest declined 12.2 percent, and the Northeast fell 4.2 percent. The 163,000 inventory of new homes for sale in September is a record low, representing a 6.2 month supply at the current pace.

(Graphic credit: NAHB)

NAHB Monthly Survey of Builders Shows Gains

October 19th, 2011 Comments off

The National Association of Home Builders (NAHB) reports that confidence among home builders for single-family dwellings rose four points to 18 on the NAHB/Wells Fargo Housing Market Index (HMI), the largest monthly increase since the tax credit program of April 2010. Based on builders’ perceptions of current home sales and expectations for the next six months, the HMI survey is in its 20th year. A score above 50 indicates more builders consider conditions good rather than poor. NAHB Chief Economist David Crowe says, “It’s worth noting that while some builders have shifted their assessment of market conditions from ‘poor’ to ‘fair,’ relatively few have shifted their assessments from ‘fair’ to ‘good.’ One reason is that builders are facing downward pricing pressures from foreclosed homes at the same time that building materials costs are rising, and this is further squeezing already tight margins.” Regionally, the West scored the best, gaining nine points to 21, that regions best HMI score since Aug. 2007. The Midwest and South each gained four points, while the Northeast was unchanged. In a related development, the U.S. Commerce Department says housing starts rose 15.7 percent in September to a seasonally-adjusted rate of 658,000 units, the largest increase in a year and a half. The increase is due largely to multi-family starts.