Source: Realtor.com —
With home prices surging, many buyers, particularly millennial first-timers, are seeking out more affordable housing. And that means taking another look at alternatives like mobile homes.
Yes, mobile homes often get a bad rap. But their values have been rising faster than single-family homes, according to a recent report from online financial services marketplace LendingTree. These homes have become even more appealing recently as they support the on-the-go, work-from-home lifestyle during the COVID-19 pandemic.
“Because single-family home prices are so high, some middle-class buyers—especially younger ones—could increasingly turn to mobile homes,” says LendingTree senior economic analyst Jacob Channel. “Even though the value of single-family homes is rising very quickly, the lower price point of mobile homes allows for an even faster ascent.”