The new quarterly data series provides insights on prices for a market segment that often serves as an affordable option for homebuyers
The Federal Housing Finance Agency (FHFA) published today new national datasets on price trends for manufactured homes.
FHFA’s release of the House Price Index (HPI) and median prices for manufactured homes provides quarterly data on the movement and level of manufactured home prices nationally.
The price indexes and median prices for manufactured homes are both based on data from real-property conventional mortgages acquired by Fannie Mae and Freddie Mac. Following today’s release, pricing data for manufactured homes will be updated quarterly and included along with the flagship FHFA HPI® — released monthly and quarterly — featuring publicly available data series on trends in single-family home prices.
“FHFA’s new data resource on manufactured homes provides relevant, up-to-date information on an important but less-understood segment of the housing market,” said FHFA Director Sandra L. Thompson. “In a housing market with elevated home prices, manufactured housing remains an affordable option. This new data should help advance discussions on responsible efforts to expand homeownership opportunities.”
The new data release for manufactured homes includes purchase-only as well as all-transactions house price indexes (the latter combining purchase and refinance data). Both measure quarterly changes in prices since 2000, on a national scale, based on repeat-sale transactions for individual homes. The data series on median manufactured home prices list the national median prices in dollars for every quarter since the beginning of 1985. The price indexes and data on median prices are still in development and may undergo changes in the future.
Key Findings
- House price indexes for manufactured homes increased by 7.9 percent between the second quarters of 2023 and 2024. They increased by 3.2 percent in the second quarter of 2024 compared with the first quarter.
- In the second quarter of 2024, the median price of manufactured homes for sale was $231,000. This represents an increase of $1,000 from the second quarter of 2023.
Notes
- FHFA will next update the house price indexes and median prices for manufactured homes (including data through September 2024) on November 26, 2024.
- The upcoming monthly and quarterly release dates for the remainder of 2024 and all of 2025 are available at https://www.fhfa.gov/data/hpi#ReleaseDates.
Related Resources
- Introductory video at https://youtu.be/ODAqkce7IHs.
- Data at https://www.fhfa.gov/data/hpi/datasets?tab=hpi-datasets.
- Technical Notes at https://www.fhfa.gov/data/hpi/focus-pieces.
The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price fluctuations at the national, census division, state, metro area, county, ZIP Code™, and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.
FHFA releases HPI data and reports quarterly and monthly. The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data including refinances, Federal Housing Administration mortgages, and real property records. All the indexes, including their historic values, and information about future HPI release dates, are available on FHFA’s website: https://www.fhfa.gov/HPI.