Tuesday, May 21, 2013

Percentage of Modular Homes Holds Steady over the past 10 Years


Modular construction of 1 & 2 family residences has remained steady at about 2% of overall new home starts for the last ten years. 


According to the U.S. Department of Commerce, new single family residential construction houses completed have dropped from 1,218,000 homes in 2007 to 447,000 in 2011.  Modular homes accounted for an average of 2.4% of new single family houses completed annually, or 31,000 dropping to about 10,000 over that same period.

For March 2013, the US Department of Commerce reports single family construction sales at 417,000 annually with a median sales price of $279,900.  At 2.4% the modular industry accounts for about 8,300 houses.

The percent of modular home starts varies significantly by region with the Northeast being the strongest at 6.8% of all new housing starts, followed by the Midwest at 3.9%; the south at 1.3% and finally the west at less than 0.5%.

Region
Total
Northeast
Midwest
South
West
Number
417,000
41,000
51,000
215,000
110,000
Total Modular
8,300
2,800
2,000
2,800
600

Based on this data, the single family modular home industry is approximately $2.3 billion in the United States for year end 2012.


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