MHI’s Monthly Economic Report© for October 2010 is now available.
The Manufactured Housing Institute’s actual shipments report indicates that 3,841 new HUD Code homes were shipped in October 2010, down 15.7 percent from October 2009. Decreases were across the board with shipments of both single-section and multi-section homes down compared with the same month last year.
Compared with 2009, manufactured building activity in 2010 has seen substantial fluctuation. Relative to 2009, this year started off with a decline in January (down 17.4 percent), shipments in February were essentially flat, followed by gains in March, April, May and June. The month of July showed a year-over-year decline, the upward trend returned in August but shipments again retreated in September and October. Over the period, total industry shipments stands at 43,802 homes compared with 42,381 homes in 2009, a year-to-date increase of 3.4 percent.
The seasonally adjusted annual rate (SAAR) of shipments was 39,688 in October, down by 19.3 percent from the rate of 49,199 in September. The SAAR corrects for normal seasonal variations in shipments and projects an annual shipments pace based on the current monthly total. Total floors shipped in October 2010 were 6,211, down 17.3 percent from the same month in 2009. The number of plants reporting production in October was 134 and the number of reporting corporations was 53, both unchanged from the prior month.
If you are an MHI member, you can also access the report on MHI’s website at www.manufacturedhousing.org.