Manufactured Housing Update from Canada
Back in 2013 when Northpoint entered the Canadian market, the Manufactured Housing industry was quite different than it is today. With limited players and no coast-to-coast, centrally managed finance company at the time, Northpoint was able to bring its experience and reach to benefit the industry by filling a critical gap. It was a pleasure to reconnect with many in the industry and reengage with our valued partners.
As an overview, Canadian manufacturers today offer homes built to a standard that meet the challenges of the Canadian climate. A large percentage of the product sold by retailers is modular and majority of the homes are sourced through plants based in Canada.
Specifically, the Canadian market is divided into three regions: British Columbia to Manitoba is serviced by five major plants (some smaller producers throughout the region and additional product that comes from US plants). The next region – Ontario and Quebec – has several plants that sell directly to the consumer, with a smaller retail network. Here too, there are a few US based suppliers that sell in the market. The third region – Atlantic Canada – has four major plants and few smaller ones that service this region, with a strong retailer base.
Currently, the market is experiencing a softening in residential sales. In response, many manufacturers are transitioning to multi-residential units to adapt to the changing demands. It is also worth noting that the indigenous market remains strong and continues to play a crucial role in the industry.
Northpoint is proud to have the most experienced commercial finance team in the manufactured housing industry in Canada. We will continue to bring our expertise and dedication to everything we do, and to continue growing and innovating within this dynamic environment.
Thank you to all our valued partners!
