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Manufactured Home Production Hits 15-year High
By most measures, manufactured homes represent about 10% of all new single-family homes built every year. But that percentage may be going up.
According to the Census Bureau, home manufacturers like Skyline and Silvercrest are expected to deliver more than 100,000 new homes in 2021. That’s the first time this number had climbed that high into triple digits since 2006.
Why the increase? Certainly the ever-rising cost of traditional site-built homes is a factor.
Manufactured homes are assembled in a factory before they’re installed on-site, but once they are affixed to their permanent foundations, the differences stop there. In quality materials used in construction, in energy-saving components that lower utility bills, in living space and design flexibility and overall durability, there is no discernible difference between homes built in a factory and those assembled outside.
Until it comes to cost. That’s where the affordability advantage of manufactured homes is attracting more homeowners, from young couples ready to invest in their first home to seniors looking to downsize after their kids have left the nest.
According to the Wall Street Journal, only 21 percent of new site-built homes sold in September sold for less than $300,000. In California, most are significantly higher than that median cost. Manufactured homes offer a better path to homeownership.
Of course, this increase in demand has had an impact on supply, resulting in longer backlogs among manufacturers. Our advice: If you are considering a manufactured home purchase some time next year, now is the time to speak with a Ma Williams representative. The sooner you begin the process, the sooner you’ll be moving in the home of your dreams.
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