MHI March 2022 Economic Report
a 13% increase compared to March 2021
In March 2022, 11,279 new manufactured homes were produced, an increase of 1,998 homes or 21.5 percent compared to February 2022, and an increase of 1,271 homes or 12.7 percent compared to March 2021. MHI's Monthly Economic Report includes numbers for both manufactured home production and shipments. The difference between the two is attributed to the number of homes that have been produced, but their destinations are pending. No FEMA designated units were produced in either March 2022 or in March 2021.
The number of plants reporting production in March 2022 was 141 and the number of active corporations was 33, the same number of corporations yet one more plant than in the prior month.
In March 2022, 11,268 new manufactured homes were shipped, an increase of 1,993 homes or 21.5 percent compared to February 2022, and an increase of 1,275 homes or 12.8 percent compared to March 2021. Compared with the same month last year, shipments of single-section and multi-section homes were both up, 6.1 percent and 17.9 percent, respectively. Total floors shipped in March 2022 were 17,999, an increase of 14.7 percent compared with the same month last year.
The seasonally adjusted annual rate (SAAR) of shipments was 119,810 in March 2022, up 4.0 percent compared to the adjusted rate of 115,256 in February 2022. The SAAR corrects for normal seasonal variations and projects annual shipments based on the current monthly total.
Cumulative shipments for January through March this year totaled 29,653 homes compared with 26,464 homes for the same three months of 2021, a net increase of 12.1 percent.