Texas Manufactured Housing Sales in March 2022 and the April Early Read

Thursday, June 16, 2022 2:42:39 PM

April Preliminary Data

New manufactured home sales titled to date moved up a seasonally adjusted +3% in April over the previous month and the raw total was up +2.1% over April of 2021.

New home sales continue to come in below the pre-covid 2019 baseline.

The forecast for new homes sold in April based on the sales titled to date is 1,485 (+/- 194).

New SalesSinglesMultisTotal
Total for April: 484 529 1,013
Change from March (Raw %): -4.2% -6.9% -5.6%
Change from March (Raw Units): -21 -39 -60
Change from March (SA %): 6% -3.7% 3%
Change from April of 2021 (%): 0% 4.1% 2.1%
Change from April of 2021 (Units): 0 21 21
Used SalesSinglesMultisTotal
Total for April: 156 64 220
Change from March (Raw %): -14.3% -9.9% -13%
Change from March (Raw Units): -26 -7 -33
Change from March (SA %): 3.6% 13.9% 4.6%
Change from April of 2021 (%): -5.5% -11.1% -7.2%
Change from April of 2021 (Units): -9 -8 -17

March Data

March new home sales titled to date are up a seasonally adjusted +2.8% over February, and are running neck-in-neck at +0.3% with March of 2021.

The updated forecast for total new homes sold in March moved down to 1,521 (+/- 108).

New SalesSinglesMultisTotal
Total for March: 588 674 1,262
Change from February (Raw %): 39% 38.7% 38.8%
Change from February (Raw Units): 165 188 353
Change from February (SA %): -6% 4.9% 2.8%
Change from March of 2021 (%): -9.3% 10.5% 0.3%
Change from March of 2021 (Units): -60 64 4
New Home Characteristics for MarchSinglesMultisTotal
Median Age of Home (Days): 111 106 107.5
Average Square Feet: 1,124 1,821 1,496
Top Five Counties for New InstallsTotalChange (MoM%)
Harris 59 73.5%
Liberty 53 29.3%
Bexar 52 44.4%
Montgomery 46 21.1%
Travis 39 105.3%
Used SalesSinglesMultisTotal
Total for March: 222 92 314
Change from February (Raw %): 46.1% 50.8% 47.4%
Change from February (Raw Units): 70 31 101
Change from February (SA %): 2.7% 4% 9%
Change from March of 2021 (%): 6.7% -18.6% -2.2%
Change from March of 2021 (Units): 14 -21 -7

Annual Totals

New home sales in 2022 are currently up +4.3% over last year for all retail sales titled to date. Single-sections continue to trail 2021 while multi-section sales are up +9.3%.

The forecast for new home sales on the year moved up slightly to 15,971 (+/- 1,701).

New SalesSinglesMultisTotal
Total for 2022 titled to date: 2,163 2,440 4,603
Change from 2021 (%): -0.8% 9.3% 4.3%
Change from 2021 (Units): -18 207 189
New Home Characteristics for 2022SinglesMultisTotal
Median Age of Home (Days): 108 102 106
Average Square Feet: 1,112 1,828 1,491
Top Five Counties for New InstallsTotalChange (YoY%)
Liberty 202 -6.9%
Harris 201 19.6%
Bexar 169 14.2%
Montgomery 168 -11.6%
Travis 114 -45.5%
Used SalesSinglesMultisTotal
Total for 2022 titled to date: 881 345 1,226
Change from 2021 (%): 15.9% -11.1% 6.8%
Change from 2021 (Units): 121 -43 78

Because titles continue to come in for past sales months, here are all prior months for the year and what their current sales totals are at this report release.

New Sales MonthSinglesMultisTotal(YoY%)
January 458 550 1,008 5.3
February 438 518 956 16.7
Used Sales MonthSinglesMultisTotal(YoY%)
January 192 80 272 -7.2
February 170 67 237 0.4

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.

Charts

The monthly sales totals for each year with only titles processed through 6-15 shows 2022 lagging the pre-covid 2019 sales levels from February on.

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.

The second chart shows monthly totals at the official release date for each month. All of these totals have moved up since release, and the most recent totals can be seen in the chart below this one.

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.

The third chart is all sales data in the series to date with single-section and multi-section home totals plotted.

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.

This chart tracks the difference between shipments and sales each month. Because late title work pushes recent sales totals up, I’m including data through the previous officially released sales month. The February difference should be the largest on record.

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.

Here are the 12-month moving averages for shipments and retail sales through February sales. Because late title work pushes recent sales totals up, I’m including data through the previous officially released sales month, but the last several months will move up as title work continues to be processed.

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.

This chart displays the annual median for the number of days between a home’s date of sale and it’s date of manufacture. Prior to 2/22/21 this chart included sales from manufacturers to communities, it now only includes sales from licensed retailers.

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.

The final chart is for all used monthly retail sales data. The outliers are typically the result of community purchases were titles move from the previous to the new MHC owner.

Note: These calculations are based on titles processed by TDHCA through 2022-06-15. Late submissions will impact these figures going forward.