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.
MarketWatch says according to the National Association of Realtors (NAR) sales of existing homes fell 1.5 percent in May because fewer inexpensive homes sold. The seasonally annual- adjusted rate (SAAR) of sales for the month hit 4.55 million, a drop from 4.62 million in April. Although sales were up 9.6 […]
Existing Home Sales Edge Lower Read More
CNNMoney reports the Census Bureau says building permit applications for new homes rose to an annual rate of 780,000 in May, the highest rate since Sept. 2008, reflecting the National Association of Home Builders (NAHB) survey of builder confidence which hit its highest mark since 2007, as we reported here
Rising Building Permits Bode Well Read More
CNNMoney reports signs that global markets are hitting bumps in the road as Moody’s is expected to downgrade global banks sent the Dow Jones Industrial Average spiraling down -250.82 points, a loss of 1.96 percent, to close at 12,573.57. The Nasdaq fell even more, losing -2.44 percent to 2,859.09, while
All Three Indexes and Most Tracked Housing Stocks Tumble Read More
TheGreenevilleSun reports from Knoxville, Tennessee the Clayton Family Foundation has sponsored a 5,000 square foot water park at the Knoxville Zoo. The “Clayton Safari Splash” includes life-size giraffes spouting water, large water hoops, and sprays that shoot water several stories high amid giant flowers. Speaking at the opening on behalf
Clayton Foundation Sponsors Water Park Read More
HamptonRoads reports from Suffolk, Virginia in the southeast corner of the state, a modular home in two sections is being moved here from North Carolina. Accompanied by escort vehicles, the procession will likely slow traffic around 1-2 PM along a route from Carolina Road to the siting at Blythewood Lane.
Modular House Going Home Read More
SouthFloridaRealEstate tells us the Stoll Manor Mobile Home Park in Lakeland, Florida has been sold to an Illinois buyer for $2.15 million. Stoll Manor is an all-age community founded by C.J. Stoll in 1993 with 239 home sites and several exercise amenities. Dan Mulkey, investments vice president in the Tampa
MHC in Florida Sold to Illinois Co. Read More
MarketWatch reports Deer Valley Corporation is restructuring key management personnel to focus on several opportunities the company wants to explore. Joel Logan, president and general manager of Deer Valley Homebuilders (DVHB), Inc., will become executive v.p. and COO (Chief Operating Officer) of the parent company with responsibility for new business
Deer Valley Re-Focuses Read More
From The Jerusalem Post in Israel MHProNews.com learns 33 families currently residing in five apartment buildings in Ulpana will voluntarily leave their outpost in the West Bank by July 1 and move into modular housing in nearby Beit El. The High Court of Justice said the buildings have to be
Modular in the Middle East Read More
WorldPropertyChannel reports Freddie Mac’s vice president and chief economist, Frank Nothaft, says due to rental demand by people postponing homeownership, rental activity has produced some good numbers in the housing market. The GSE’s U.S. Economic and Housing Market Outlook for June 2012 says for the year ending March 2012, the
LosAltosPatch reports the first modular multifamily LEED (Leadership in Energy and Environmental Design)-Certified building in Silicon Valley, in California features exposed structural steel frame, Forest Stewardship Council (FSC)-certified wood exterior that comprises the modules, solar panels that provide 100% of the energy to the units, zero VOC (volatile organic compounds)
Silicon Valley: It’s Not Just for Chips Read More
While extending one of their stimulus programs, hopes that the Federal Reserve would announce a more aggressive bond buying plan to support the economy fell flat, as did U.S. stocks today. CNNMoney tells us the Dow Jones Industrial Average dropped -12.94 points, -0.10%, to close at 12,824.39. The Nasdaq rose
Dow Drops, Skyline Falls, Gains are Meager Read More
The KingmanDailyMiner says the Kingman City Council has entered into an agreement with the Arizona Office for Manufactured Housing to set fees for MH placements, inspections, and renewals. An MH placement permit with three inspections was set at $300. Additional inspections would cost $47 each, and a six month MH
Fees Proposed for MH Siting Read More
NewsTimes tells us one of the strongest wind zones in the Northeast is on lower Cape Cod in Massachusetts, where winds during hurricane season typically reach 120 mph. A vacation home now being built by Modular Architecture of Wilton, Connecticut, with a spectacular view of the ocean front will feature
Gorgeous Modular Fortress Read More
Harking back to a story we posted May 3, 2012, the Delaware House of Representatives was considering a bill that would require approval from the Governor’s Advisory Council on Manufactured Housing for any increase in rent at an MHC beyond the consumer price index. DelawareFirst tells MHProNews Senate Bill 205,
MHC “Rent Justification” Defeated Read More
The Manufactured Housing Institute (MHI) newsletter reports an article in the Wall Street Journal says access to credit may be the key to U.S. economic recovery. Noting those who already have access are taking advantage of the low interest rates, while millions more with limited access cannot take advantage of
Lack of Credit Access Hindering Recovery Read More
NationalMortgageNews reports the Census Bureau released figures stating single-family housing starts rose 3.2 percent in May to a seasonally-adjusted annual rate of 516,000, above the saar of 500,000 for April. This marks the third consecutive monthly increase. Single-family starts are up 26% overall from a year ago. Meanwhile, multi-family starts,
Single-family Starts Rise in May Read More
Sunday’s election in Greece that put a pro-bailout party into office gave investors room to breathe. Now the hope is a stimulus package will emerge from the current Federal Reserve meeting. CNNMoney says those two hopes fed U.S. stocks, as the Dow Jones Industrial Average gained +95.51 points, +0.75%, to
LA Pacific, Housing Composite Move Up; Three Indexes Gain Read More
Gizmag says a Chinese company will construct the world’s tallest building in just 90 days using modular construction. The Broad Group says the 2,750 foot Sky City One will stand 33 feet taller than the current tallest building, the Burj Khalifa in Dubai, named after UAE (United Arab Emirates) President
World’s Tallest Building will be Modular Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports that despite the 2008 Congressional “duty to serve” (DTS) directive to the government-sponsored enterprises (GSEs) to establish a secondary market for manufactured housing, including chattel loans, the proposed implementation rule published by the Federal Housing Finance Agency (FHFA) two years ago
Fannie Mae’s chief economist Doug Duncan, while noting home sales are up eight percent over last year, anticipates home prices will continue to fall through this year and bottom out in the beginning of 2013. Fannie’s Economic and Strategic Research Group cites the stagnation in the job market, sluggish income
Housing Recovery? Not So Fast Read More
