As we prepare for a return to normalcy after the coronavirus pandemic, economic growth and consumer spending are following a positive trajectory. In the current socio-economic context, lower interest rates and specific home loan programs are offering unique opportunities that encourage more people to pursue homeownership. Considering all these, the positive consumer sentiment fueling a renewed interest in buying a home comes as no surprise, especially after many sellers, buyers, and real estate agents paused their home-buying activities last year. On the downside, the supply of new and pre-owned properties is shrinking fast amid the growing demand for housing.
Manufactured Housing News
With the housing demand continuing to outpace supply, a new housing crisis is looming on the horizon. In fact, chronic underbuilding and huge demand have already led to a double-digit home price appreciation rate in most states across the nation. Because in a seller’s market homebuyers compete fiercely for homes, many of them are forced to pay tens of thousands of dollars over the asking price in order to buy a piece of property.
Besides the fact that manufactured home skirting is recommended by most builders, it’s also one of the manufactured home components required in many states across the country. In addition to enhancing the curb appeal of manufactured homes, skirting prevents moisture-related damage, as long as ventilation openings are installed according to specifications; keeps pipes from freezing during the winter; acts as a deterrent for animals and insects, preventing them from invading the crawl space underneath your home and potentially causing damage; lowers heating and cooling costs by keeping a more constant temperature underneath the home, thus preventing a lot of cold or hot air from entering your home; and can even reduce homeowners insurance costs.