New titles for April reversed course from the big month-over-month gains we saw for February and March, falling 9.21% over the preceding month. The market experienced a similar drop last year at this time, but the continued strength of multi-section home sales year-over-year has April 2016 up over April 2015 by 9.42%, and year-to-date new titles are still tracking 7.24% over 2015.
The year-over-year new title gains continue into May’s preliminary data. However, total shipments for May are down on lowered demand for singe-section homes. Multi-section homes shipped are still up 6.18% over 2015.
Taking a look at the top 10 counties for new single-section installs from last year, Harris(-31.62%) and Midland(-67.29%) accounted for a drop of 80 and another 72 homes year-over-year for 2016. Victoria(-75%) was down 39 single-section homes, while Ector(-17.05%) and Brazos(-23.53%) were down 15 and 12 homes respectively. Of those counties with declines in single-section installs, only Ector(-48.6%) and Midland(-52.78%) were also down for new multi-section installs, so it certainly looks like the decline in oil prices is the main culprit in lowering the states total retailer demand for single-section homes and they aren’t rushing to restock that inventory. With the exception of Harris(-21.32%), Ector(-34.36%) and Midland(-61.45%), sales growth continues across the other counties in the top 20 for total new homes installed.
We launched a new feature this week for our retailer reports called My Stats. For employees of member locations with TDHCA retailer licenses it should make viewing your title totals and the title totals of those retailers in your market much easier to surface quickly. Take a look and let us know what you think!
April
| Change from March: |
-9.72%* |
-8.7%* |
-9.21%* |
| Change from April of 2015: |
1.17%* |
19.05%* |
9.42%* |
| January through April 2016 change from 2015 (%): |
1.31%* |
14.39%* |
7.24%* |
| January through April 2016 change from 2015 (Units): |
27* |
247* |
274* |
| Change from March: |
5.49%† |
-15.78%† |
-4.84%† |
| Change from April of 2015: |
-10.15%† |
-0.78%† |
-6.35%† |
| January through April 2016 change from 2015 (%): |
-13.68%† |
12.3%† |
-2.89%† |
| January through April 2016 change from 2015 (Units): |
-382† |
244† |
-138† |
| Change from March: |
-6.41%* |
-15%* |
-9.63%* |
| Change from April of 2015: |
39.49%* |
56.58%* |
45.06%* |
| January through April 2016 change from 2015: |
34.98%* |
17.36%* |
28.15%* |
| Change from March: |
-8.77%* |
-9.93%* |
-9.31%* |
| Change from April of 2015: |
10.13%* |
24.56%* |
16.41%* |
| January through April 2016 change from 2015: |
9.32%* |
14.96%* |
11.8%* |
May
| Change from April: |
-16.2%† |
-4.34%† |
-11.1%† |
| Change from May of 2015: |
2.55%† |
-15.06%† |
-6.42%† |
| January through May 2016 change from 2015 (%): |
-11.01%† |
6.18%† |
-3.56%† |
| January through May 2016 change from 2015 (Units): |
-368† |
158† |
-210† |
| New change from May 2015: |
18.35% |
18.47% |
18.41% |
| Used change from May 2015: |
-15.84% |
20% |
-2.48% |
| Total change from May 2015: |
11.11% |
11.11% |
14.45% |
March
| New titles increased: |
+11 |
+30 |
+41 |
| Used titles increased: |
+30 |
+12 |
+42 |
TMHA’s Reports
Lender
* Note: These calculations are based on titles processed by TDHCA that were submitted on time. Late submissions will impact these figures going forward.
† Note: Shipment data is compiled from TDHCA’s Texas Manufacturer’s Report and their Out of State Manufacturer’s Report.
