News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
The Dow and the S&P hit new highs in today’s trading but were not able to remain at that level after Carl Icahn’s comments that companies are boosting profits thanks to low borrowing costs instead of strong management. CNNMoney reports the Dow Jones Industrial average fell to gain +0.09 percent, […]
Most Tracked Housing Stocks Fall; Major Indexes Move Little Read More
An architect in Mumbai, India, wanting to protect his father’s ancestral home from the annual rains that washed it out, turned to modular construction built up off the ground. According to deccanchronicle.com, the architect, Dipu George, deciding that conventional building would not serve his purpose, designed a two-story 1,350 square
Modular Homes in Mumbai Read More
In response to the housing crisis in Great Britain, Factory Homes in Hull, England has been working with New Charter Homes and developer Bowsall to site seven modular homes in northeast England’s Mossley, Manchester. The three bungalows and four detached homes were built in 45 days, replacing a former Homes
Modular Homes Meet Affordable Housing Needs in UK Read More
Marking the fastest quarterly growth since the current recovery began, the latest FNC Residential Price Index (RPI) rose 2.5 percent from Q2 to Q3 2013. As HousingWire informs MHProNews, FNC attributes the growth to rising home sales and a drop in foreclosure sales. Nationwide, foreclosure sales accounted for 13.4 percent
Quarterly Home Prices Rise the Most Read More
All three major indexes advance at week’s end as they approach major milestones. CNNMoney reports the Dow Jones Industrial Average gained +85.48 points, +0.54 percent, to finish the day at 15,961.70. The Nasdaq moved up +0.33 percent, +13.23 points, to end the week at 3,985.97, while the S&P gained 7.56
Nobility Homes Spikes, as the Three Major Indexes Approach Records Read More
HIVEHAUS is a modular hexagonal housing unit composed of six-sided self-contained 100 square foot modules that can be arranged in many configurations to suit the homeowner’s needs. Set on adjustable legs to allow for uneven ground, the units arrive as a flatpack and require 2-3 people to assemble. The product
Hexagonal Modular Home arrives as Flatpack Read More
Oak Creek Homes is collecting nonperishable food at their model home centers in Texas, Oklahoma and Louisiana to distribute to those in need before Thanksgiving. Called Pack Our Pantry, as an enticement to manufactured and modular home buyers, Oak Creek is offering a $500 discount on a new home up
Oak Creek Helps Feed the Hungry Read More
Due to rising balances on mortgages, student loans and auto loans, total indebtedness increased by $127 billion, 1.1 percent, over the previous quarter, according to the New York Federal Reserve. A slowdown in foreclosures—the lowest level since the end of 2005—helped offset a drop in mortgage originations, as did a
Consumer Debt Rises; Foreclosures, Delinquencies Fall Read More
The National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) reports 64.5 percent of new and existing homes sold in the third quarter were affordable to U. S. families earning the median income of $64,400, a drop from 69.3 percent in Q2 2013. This was the largest drop
Housing Affordability Slides in Third Quarter Read More
A couple in Ripley, West Virginia have sued CMH Homes, Inc. dba Freedom Homes No. 642 in Jackson County Circuit Court for allegedly selling them and installing a defective manufactured home that they could not use as intended. While wvrecord.com does not specify the nature of the damage, MHProNews has
Couple Sues over Manufactured Home Read More
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
Time For Sale Homes Remain on Market Declines Read More
Federal Reserve Chair nominee Janet Yellen said she will continue to support the economy with stimulus measures, which sent the three major indexes up modestly, but sufficiently to spur the Dow and S&P to new highs. CNNMoney reports the Dow Jones Industrial Average gained +54.59 points, +0.35 percent, to finish
Manufactured Housing Composite Plummets; Tracked Housing Stocks Mixed Read More
As part of the Hurricane Sandy rebuild effort, New Jersey-based Statewide Custom Modular Homes is having seven modular homes supplied by Nationwide Homes of Virginia, all using Eco Red Shield Lumber. As MHProNews has learned from wsj.com., Eco Building Products, Inc. manufactures treated wood products that are protected against fire,
More Modulars Moving to East Coast Read More
Avalon Properties has brought in 100 new and remodeled manufactured homes to Desert Mountain Estates, a manufactured housing community it bought when it contained ten dilapidated factory-made homes and a history of police runs because of criminal activity. Located outside Alamogordo in south central New Mexico, the community is owned
Manufactured Housing Community Restored in New Mexico Read More
Joe Kelly, executive vice president of the Iowa Manufactured Housing Association (IMHA), noting the importance to the manufactured housing industry of HR 1779, exhorts members to contact their representative in Congress to support the bill. He tells MHProNews Iowa only has four representatives in the House, and of those, Representatives
HR 1779 in need of Extensive Support Read More
Following up on a story MHProNews posted Nov. 4, 2013 regarding the increase in production of manufactured homes in Sept. 2013, the seasonally adjusted annual rate was 59,771, an increase of 0.7 percent from the adjusted rate in August of 59,352. The Manufactured Housing Institute (MHI) says 122 plants reported
Manufactured Home Production Facilities Remain Stable Read More
The 901 homesite Tri-Star Estates manufactured housing community in Kankakee, Illinois was purchased in April, 2013 by Santefort Real Estate Group for $13 million after prior owner, Capital First, declared bankruptcy in Nov. 2010. Brian Gallagher, chief operating officer (COO) for Santefort, says, “We have a tremendous amount of work
Manufactured Housing Community has New Owner Read More
While investors try to determine when the Federal Reserve will begin tapering its monetary support, the Dow rose steadily during the trading day as the S&P hit a new high. CNNMoney reports the Dow Jones Industrial Average gained +70.96 points, +0.45 percent, to finish the day at 15,821.63. The Nasdaq
S&P Hits New High; Most Tracked Housing Stocks Gain Read More
According to Zillow Mortgage Marketplace, the 30-year fixed rate mortgage (FRM) rose 17 basis points in the week ending Nov. 12 to 4.44 percent. The rate moved up due to the government’s strong jobs numbers and better-than-expected growth in the gross domestic product (GDP). The Mortgage Bankers Association (MBA) reports
Thirty-year FRM rises to 4.44 Percent Read More
The recovery of the housing market is still a long ways off, according to CNBC.com, noting people who rushed to buy this summer will realize they have made a “grave mistake.” Existing home sales were down 1.9 percent in Sept., and revised figures for August, which is often the last
Housing Recovery? Not so Fast… Read More
