A dream of a “home of our own” has pushed more potential buyers frustrated by a low inventory of for-sale properties to consider manufactured housing.
NEW YORK – Is a mobile home boom brewing? Twenty-three U.S. states saw online searches for mobile homes increase 50% or more year to year (from May to September 2020 and 2019) compared to the same period a year ago, according to a new analysis of Google Trends data from Point2Homes.
In Florida, the increase in manufactured-home searches (49%) was close to the U.S. average.
In some states, online mobile home searches increased more than 80%, including in Connecticut, New Mexico, Virginia and Texas, the study shows.
The popularity of mobile homes – also referred to as manufactured homes – is increasing in the pandemic as home shoppers search for affordability and their own space.
Affordability is a key draw of manufactured housing. Some buyers may be looking for a way to still own a home but at a lower cost.
The typical monthly housing payment for a manufactured home is $505, which includes the loan payment, lot rental, utilities, insurance and property taxes. For renters, it’s $670, which includes rent and utilities.
For comparison, the typical monthly house paymen (…)
Read source article: Tight Inventory Boosts Manufactured Home Searches 50%