WALNUT CREEK, CA -- Demand for affordable housing options
and financing for owners to purchase manufactured units are filling park
vacancies and
boosting operations throughout the country, according to new
research from Marcus & Millichap.
As financing remains
difficult to obtain for many potential homeowners, more manufacturers and local
banks are providing lending for park owners to purchase multiple manufactured
homes.
These homes are then offered as lease-to-own to prospective
residents. In addition to first-time home buyers, demand is also up as the baby
boomer generation ages into retirement, an age when many seek a second home.
The need for manufactured housing is especially high in
metros that lack affordable housing or where sizeable job growth can overwhelm
the existing housing supply. Areas near shale deposits, such as eastern Ohio,
south
Texas and western North Dakota are examples.
Manufactured home parks in most areas of the Midwest will
remain hindered by competition from affordable housing prices. However, demand,
occupancy rates and cash flows in most areas of the nation are improving.
As a result of the increased demand, shipments of
manufactured homes are up compared with this time last year, a trend that is
likely to continue as housing prices throughout the nation escalate.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations
Manager
Marcus &
Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
(925) 953-1700 ext.
1716
(510) 999-1284 mobile
(925) 953-1710 fax
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