June manufactured housing shipments beat our forecast and came in at 1,326 homes shipped. Single-section and multi-section shipments were up a combined 16.1% from May with manufacturers producing more of each home type.
June had two additional days of potential production over May and over June of 2019, but even accounting for that difference shipments increased over both time periods.
The rate of homes shipped per day moved up to 60 homes, which is a 45% increase over the trough hit during the April lockdown.
The outlook for July is a little less clear. We are currently forecasting 1,083 home shipments for the month, but through our survey work with the Real Estate Center at Texas A&M University it is clear that many factories had lower run rates as the increase in coronavirus cases across the state impacted the labor supply needed to meet rising demand.
Orders and backlogs are increasing though, so as the state’s case count lowers we expect production to continue to grow.
TMHA’s Manufactured Home Builders Stock Index finished July up 7.9%.
|Total for June:||617||709||1,326|
|Change from May (%):||14.3%||17.8%||16.1%|
|Change from May (Units):||77||107||184|
|Change from June of 2019 (%):||21.9%||5.5%||12.6%|
|Change from June of 2019 (Units):||111||37||148|
|Total for 2020 YTD:||3,755||4,294||8,049|
|Change from 2019 (%):||3.5%||7%||5.3%|
|Change from 2019 (Units):||128||280||408|
Here are the annual totals for manufactured home shipments in Texas from 2012 through 2019.