The National Association of Realtors ® (NAR) produces housing statistics on the national, regional, and metro-market level where data is available.
In a recent press release to the the NAR reported that “After three straight monthly declines, existing-home sales slightly reversed course in September, but ongoing supply shortages and recent hurricanes muted overall activity and caused sales to fall back on an annual basis.”
Lawrence Yun, NAR chief economist, said that closings mustered a meager gain in September, but declined on an annual basis for the first time in over a year (July 2016; 2.2 percent).
“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country,” Yun said.
“Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers,” per Yun’s statement.
Affordable Manufactured Homes in the Broader Marketplace
Inventory of affordability has been an issue, as MHProNews and MHLivingNews has reported for some time.
While that should bode well for manufactured housing – and there are exceptions to the rule – the industry at large has not yet capitalized on the growing demand for affordable homes.
Even adjusting for land cost, existing and single-family home prices are well above those of manufactured homes, as industry professionals know.
MHProNews will provide a how-to special report on this issue tomorrow.
The NAR housing portion of the statistics are shown below.
The latest general economic snapshot mirrors prior reports provided here on MHProNews. That report is available here as a download. ## (News, analysis, commentary.)
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