The global market for prefab homes had recorded a moderate to lowest increase during the period of 2004 to 2007. The prefab homes’ market witnessed additional blow for the period of 2008 to 2009 due to the global economic recession and decline. But, the market is now on the line for recovery because of the demand for prefab homes is gaining momentum— at a slower pace, according to the Global Industry Analysts’ recent report.
Significant losses, overproduction in the industry, and the poor underwriting that resulted to a decline in the delivery of prefab homes for the past few years.
Global economic recession has also further affected the manufactured housing industry, plus the somewhat low resale prices associated with prefab homes were also a subject of concern.
But, according to the report, the increasing labors towards the improvement in cost efficiency, durability, and quality of prefab homes, the demand for the types of homes will probably go up for the coming years, or about 757,000 units by 2015.
Recovery in demand these types of home could be attributed to aspects like the growing flexibility of housing manufacturers to the needs of the consumers in terms customization, energy efficiency, eco-friendliness, and of cost efficiency.
In the U.S., according to the report, optimization and affordability of housing requirements contained by available spatial limitations are the most important factors, which are rendering prefab homes and duplex houses increasingly fitting for the first-time buyers with low to moderate- income.
In the new market report on prefab homes, the United States represents the leading regional market sales for prefabricated housing globally.