FHFA Introduces New Manufactured Home Price Index – Clayton to Create New Factory in Conway, Arkansas
On October 9, FHFA introduced a new Manufactured House Price Index to provide quarterly data on price trends for manufactured homes, a market segment which is noted as an affordable option for homebuyers. The new data series includes both purchase-only and all- transactions house price indexes, based on real property conventional mortgages acquired by Fannie Mae and Freddie Mac. The indexes measure quarterly price changes since 2000, while the median prices data series lists national median prices in dollars for every quarter since 1985.
Key findings from the latest data reveal that house price indexes for manufactured homes increased by 7.9 percent between the second quarters of 2023 and 2024, and by 3.2 percent in the second quarter of 2024 compared to the first quarter. The median price of manufactured homes for sale in the second quarter in the second quarter of 2024 was $231,000, up $1,000 from the same period in 2023. FHFA will update the price indexes and median prices for manufactured homes quarterly,with the next update scheduled for November 26,2024
Clayton Will Invest $42 Million In New Home Building Facility
Clayton, a national single-family home builder of site-built, modern manufactured, tiny and modular housing announced Tuesday (Oct 22) the expansion of its home construction operations into Conway, Arkansas.
The company will invest $42 million in a manufacturing facility estimated to create more than 250 new jobs over three years. Clayton will modernize an existing 220,000 square-foot manufacturing facility that is estimated to build 3,000 homes annually.
Renovation and equipment installation will begin in December, with home production projected to start in the summer of 2025. The company will begin hiring while the facility is being renovated, with plans to recruit nearly 200 workers in its first year of operation.
“We’re proud that Arkansas has what Clayton needs: a highly trained workforce, low costs, and pro-business state and local government,” said Gov. Sarah Sanders. “This company won’t just build up the Conway and Central Arkansas economy – it will build the affordable homes Arkansans want on their pathway to the American Dream”.
The facility will recruit workers for a broad range of positions, including home construction, environmental health and safety, materials management, customer care, sales and human resources.
Founded in 1956, Clayton, an Omaha-based Berkshire Hathaway company, is a single family home builder dedicated to attainable housing and sustainable practices.
