Manufactured home builders are currently facing the same challenges as traditional home builders, including material cost increases, supply-chain disruptions, and labor shortages. However, opting for factory-built housing options to solve America’s housing shortage seems like a great idea. Whether we refer to modular or manufactured homes, these housing options have gained more and more popularity over the past decade mainly because they usually take less time to complete and are less expensive than conventional site-built construction.
Manufactured Housing News
One of the most significant advantages of modular construction consists in its ability to combine different processes, which can be completed at the same time on site as well as off site, in a factory-controlled environment. Because specific tasks, such as project planning and analysis, design approvals, and permit work, can also be completed simultaneously, the construction process timeline can be cut down considerably, with a positive impact on project costs.
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.