MHI May 2022 Economic Report
Kentucky's Shipment Numbers Up All Across the Board
Compared to the National Trend
In May 2022, 10,451 new manufactured homes were produced, an increase of 286 homes or 2.8 percent compared to April 2022, and an increase of 1,845 homes or 21.4 percent compared to May 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. There were 808 FEMA designated units produced in May 2022, whereas no FEMA units were produced in May last year.
The number of plants reporting production in May 2022 was 141 and the number of active corporations was 33, the same number of plants and corporations as in the prior two months.
In May 2022, 10,457 new manufactured homes were shipped, an increase of 289 homes or 2.8 percent compared to April 2022, and an increase of 1,852 homes or 21.5 percent compared to May 2021. Compared with the same month last year, shipments of single-section and multi-section homes were both up, by 38.0 percent and 9.7 percent, respectively. Total floors shipped in May 2022 were 16,011, an increase of 17.1 percent compared with the same month last year.
The seasonally adjusted annual rate (SAAR) of shipments was 126,207 in May 2022, up 1.4 percent compared to the adjusted rate of 124,424 in April 2022. The SAAR corrects for normal seasonal variations and projects annual shipments based on the current monthly total.
Cumulative shipments for January through May this year totaled 50,278 homes compared with 44,328 homes for the same five months of 2021, a net increase of 13.4 percent.