A new HUD-Code home under construction in the factory.
This year’s MH FacTOURy Summit is a two-day event hosted at the RV/MH Hall of Fame from Aug. 19-20, 2025.
The event brings two days of factory tours and educational seminars to Elkhart, Ind. Hundreds of industry professionals will have the chance to tour the region’s leading manufactured home building facilities, meet with factory representatives, see the latest manufacturing innovations, and foster new and ongoing business relationships.
“The MH FacTOURy Summit is a must-attend event for factory tours and educational seminars,” Indiana Manufactured Housing Association – Recreation Vehicle Indiana Council Executive Director Ron Breymier said. “Elkhart, Indiana has proven time and time again to be the center of manufactured home building and innovation in the Midwest, and we’re proud to host this event at the center of it all.”
Now in its fourth year at the RV/MH Hall of Fame, the MHFacTOURy Summit is geared towards manufactured housing professionals, particularly retailers and community owners, property managers, sales personnel, marketing team members, and new employees in the industry. Those who attend can find new ways to stay ahead of the competition, grow a high-performing sales team, and learn about the newest trends and preferences in manufactured housing.
The RV/MH Hall of Fame Induction Ceremony will precede the 2025 Summit, on the evening of Monday, Aug. 18. The ceremony will honor 10 manufactured housing and RV veterans for their industry service and enshrined in the Hall of Fame.
Exhibit and Sponsorship Opportunities Available For This Year’s MH FacTOURy Summit
Exhibit and sponsorship opportunities have also opened for the 2025 MH FacTOURy Summit. These are ideal ways to increase company exposure and show everything it has to offer.
Sponsors can sign up for exclusive opportunities throughout the event to boost their brand visibility among manufactured housing professionals across the country.
For more information regarding exhibit and sponsorship opportunities, please contact Sue Bartee at (317) 247-6258 ext. 14 or email info@imharvic.org.
Visit www.mhfactourysummit.com today to register for the MH FacTOURy Summit or to learn more about the event. The MH FacTOURy Summit is an industry conference for manufactured housing professionals and is not open to the general public.
The RV/MH Hall of Fame Class of 2025. Photos by Shawn Spence.
On Aug. 18, the RV/MH Hall of Fame celebrated the 2025 class of inductees, five from each industry.
“Our selection committees held meetings to review in detail all the nominations submitted for consideration of induction in the 2025 class of RV/MH Heritage Foundation’s Hall of Fame,” outgoing Hall of Fame President Darryl Searer said. “The committees were impressed with the number and quality of nominations.”
The following individuals have accepted the Hall of Fame’s invitation to attend the 53rd annual induction ceremony. The gala event will take place at the Heritage Foundation museum and conference facility in Elkhart, Indiana, on August. 18.
Joe Stegmayer, chairman of the board for the hall, welcomed guests and set the stage for the evening.
“We are here to educate and remind people of the great contribution factory-built homes have provided over the years,” he said.
Manufactured Housing Industry Inductees
Kelley
Kurt Kelley — Texas-based Insurance Provider Mobile Insurance
Kurt Kelley, who was nominated by Spencer Roane, of SECO and Pentagon Properties, has worked at Mobile Insurance since 1991, has owned the business since 1998, and insures hundreds of manufactured home communities nationwide. He is a board-certified attorney, co-founder and managing member of the American Insurance Alliance, a community owner, founder and operator of the annual TexCo conference in Woodlands, Texas, and is the founder and publisher of Manufactured Housing Review. “Kurt Kelley is a valuable presence in Texas and throughout the U.S.,” former community owner/event organizer/industry writer George Allen said in a letter of support for Kelley’s nomination.
“I am flattered, honored and proud to be nominated to the MH Hall of Fame,” Kelley said following his induction. The ceremony was well run and inspiring. Being recognized by one’s peers for a career of being a quality professional is truly humbling.”
Bill W. Poynter — Kentucky Manufacturer and Retailer Guerdon Industries/Great American Homes and The Affordable Housing Mart
Poynter
Bill Poynter, who was nominated by former Kentucky Manufactured Housing Institute Executive Director Betty Whittaker, dedicated 34 years of his professional life to the RV and manufactured housing industries. He gave enumerable hours to the KMHI, the state certification and licensure board, and the Manufactured Housing Institute. “Bill was instrumental in the early development of regulations for the industry, as well as amendments to the laws and regulation,” Whittaker said. Poynter passed away in 2006.
“I do know that my husband would be thrilled by this,”Poynter’s wife Priscilla said in accepting the honor for her late husband. “The mobile home business was his life. He worked 6 1/2 days a week and had a great time of it.”
Mark Raukar — Michigan Manufactured Home Retailer Little Valley Homes
Raukar
Mark Raukar, who was nominated by John Lindley, president of the Michigan Manufactured Housing Association, began working at Little Valley Homes in 1987 as a young man who was interested in helping run the family business, founded by father Matt Raukar and his uncle Ed Raukar. In addition to operating the retail business, which he has owned and operated since 2004, Raukar owns and operates six manufactured home communities in the state. He has volunteered time with the state association in Michigan, had been a longstanding member of the Michigan Manufactured Housing Commission, and has worked with MHI, and other groups. “Mark is always ready when asked and will go out of his way to make sure he can help to answer questions, give his expert opinion, or be present whenever there is an industry cause,” Lindley stated in his nomination remarks.
Raukar, in his acceptance comments at the dinner, said during his career he “wore many hats” including for advocacy efforts on the local, state, and national levels.
“To advocate for the industry on priorities, it’s such important work,” he said.
He thanked the corporate colleagues, the team he leaned on over the years.
“We have always worked side by side to move this industry forward. I wouldn’t be here without you,” Raukar said.
“We don’t just sell homes,” he said. “We create opportunities for families all across this country.”
Steve Schaub — Colorado-based Community Executive Yes Communities
Schaub
Steve Schaub, who was nominated by longtime colleague Karen Hamilton, has worked in the industry for more than 30 years and since 2017 has been president and CEO of Yes Communities, growing one of the nation’s largest portfolios of land-lease communities from 178 to nearly 300 communities. He founded and operated BaseCamp Capital from 2003 to 2017, has served as chairman for the National Communities Council, vice chair of the Urban Land Institute, and was recognized in 2019 as one of the Top 100 Business Entrepreneurs by Goldman Sachs. “Steve’s understanding of market shifts, regulatory environments, and customer needs has been instrumental in driving significant growth and innovation,” Clayton President Kevin Clayton stated in a letter of support for Schaub’s nomination.
Schaub emphasized thoughtful hiring as a way to grow an organization.
He said when they organized Yes Communities, they had three parks and $14 million. Yes now has more than 200 communities in 18 states, 1,500 employees, and is valued at more than $2 billion.
“I’m so blessed,” Schaub said.
Nelson Steiner — Florida-based Community Owner Steiner Communities
Steiner
Nelson Steiner, who was nominated by Florida Manufactured Housing Association CEO Jim Ayotte, worked in the manufactured housing industry for more than five decades, leading Tampa’s Steiner Communities since the 1970s, starting with Fountain View Estates, a 546-homesite 55+ property. He also ran Park Place Housing Sales Centers, and received MHI’s Community of the Year award in 2005 for Windward Knoll in Thonotosassa, Florida. He gave countless hours to state and national trade associations, and was noted for “selfless contributions and strong character and charm” according to Ayotte’s nomination statement. “Nelson is a pure entrepreneur. To build a successful manufactured home community business from the ground up is a daunting challenge,” Murex Properties President Steve Adler said in support of Steiner’s nomination. “The developments that Nelson has built here in Florida were state of the art and continue to provide quality housing and lifestyles to many retired families.”
Steiner moved from Michigan to Florida with an interest in mobile home parks.
“We thought we might build one or two and then come back up. We were very successful… We built more than 50 communities in Florida, and some in Colorado, too,” he said.
He thanked his family and his colleagues and expressed his gratitude.
“Thank you for the honor of being here,”
RV Industry Inductees
Garry Bewernick — Distributor — Atlas Trailer, Chestermere, Alberta, CA Thomas Irons — OEM/Supplier — ASA Electronics, Middlebury, Indiana Jason Lippert — Supplier — Lippert Components, Elkhart, Indiana Chad Reece — Manufacturer — Winnebago, Forest City, Iowa Larry Trout — Dealer — Toppers RVs, Waller, Texas
Attendees line up to attend the 2025 Louisville Show at the Kentucky Exposition Center.
The Midwest Manufactured Housing Federation announced today that the 2026 Louisville Manufactured Housing Show will take place from Jan. 14 – 16.
At the 2026 Louisville Show, Louisville Show attendees can view more factory-built homes than at any other indoor event in the U.S from dozens of manufacturers, as well as learn from industry leaders as they share their expertise and insights for 2026 and beyond. The event brings out an array of new manufactured home designs, the latest in technology, the best in suppliers’ offerings and a look at all the newest amenities and system-built options the industry can offer.
“The Louisville Show is the best place to not only view dozens of model homes on display, but network with thousands of fellow manufactured housing professionals at the start of the 2026 business year,” MMHF Chairman Eric Oaks said. “With the growth that the Louisville Show has seen in recent years, we’re thrilled to welcome back attendees and exhibitors alike for an outstanding showing in 2026.”
Attendee registration for the 2026 Louisville Show is expected to go live in September. To receive more information about the Louisville Show, including sponsorship opportunities and hotel block announcements, visit TheLouisvilleShow.com
Those interested in exhibiting at the event or becoming a sponsor are urged to visit TheLouisvilleShow.com/exhibitors or call (616) 888-8030 today, as exhibitor booths and sponsorships are quickly selling out.
“We’re working hard to bring even more homes and educational opportunities to the 2026 Louisville Show so that attendees get as much value as possible,” Darren Krolewski, Co-President and Chief Business Development Officer of show manager MHVillage, said. “If you want to get a grasp on where the future of the industry is headed, then the 2026 Louisville Show is a must-attend occasion.”
Once again held at the Kentucky Exposition Center in Louisville, KY, the Louisville Show will bring together manufactured housing professionals from all over the country. The precursor to the spring selling season, the event offers individuals from all corners of the industry the support and resources needed to make 2026 a strong sales year for their business.
The Louisville Show is an industry trade event not open to the general public. For more information about the event, visit TheLouisvilleShow.com.
Why Builders Should Care and What They Need to Know When Choosing AI-Enabled Software
By Erik Cofield
Merlin AI VP of Strategy Erik Cofield.
As the home building industry continues to evolve, so do the tools that power it. Many custom and production builders, remodelers, manufacturers, communities and dealers are now adopting Enterprise Resource Planning software that includes artificial intelligence capabilities. But when diving into the AI features of modern ERP platforms, you’ll often hear two terms tossed around:
AI Bots and AI Agents
While they may sound similar, they serve very different purposes — and knowing the difference can help you choose the right ERP system for your business, although really, ideally, anyone in residential construction should look for an ERP system that has both.
Let’s walk through the core differences between AI bots and AI agents, how each functions, and how home builders of any type or size can leverage them to streamline operations, reduce overhead, and drive growth. The first time someone sees what AI agents can do, they are usually both a little scared and a little amazed.
What Are AI Bots?
AI bots are essentially rule-driven automation tools that respond to specific prompts or commands. You’ve likely interacted with them already — think of customer service chatbots or virtual assistants that schedule meetings, or a web form that answers some questions, but can’t really hold much of a conversation.
In ERP systems for residential construction, a few of the many uses for AI bots are to…
Answer basic queries (“What’s the budget status of Project A?”)
Generate reports (like monthly labor costs or inventory summaries)
Automate repetitive tasks (such as sending payment reminders, processing invoices, or updating schedules and notifying trades contractors or consumers)
How AI Bots Work
AI bots operate using predefined logic, often enhanced by natural language processing, or NLP. They’re reactive — they wait for a user command and then execute a task based on programmed rules or AI-enhanced understanding. They are considered “dumb” compared to AI agents, which are considered “smart” because an AI agent, once set up and trained, can take autonomous actions.
For example, in an ERP system, you might type:
“Show me all projects that are over budget this month.”
The AI bot recognizes the intent, pulls relevant data from your financial module, and returns a list almost instantly.
Key Characteristics of AI Bots: AI bots are…
Task-oriented and reactive
Fast with low-complexity execution
Ideal for structured data tasks
Limited in autonomy — they don’t make decisions without instruction
What Are AI Agents?
An example of how AI can provide information for pricing changes on a project.
AI agents take things a step further. These are autonomous or semi-autonomous systems that actively monitor, learn from, and interact with your ERP environment to make decisions or recommendations.
Instead of waiting for your command, AI agents might notice that your drywall inventory is running low on a fast-moving project and proactively initiate a purchase order — or alert your procurement team.
In an ERP for residential construction, use cases include AI agents helping with:
Labor forecasting
Vendor performance analysis Predictive maintenance on equipment (factories/workstations)
Supply chain risk management
Inventory management
Creating purchase orders
Creating an estimate (from, say, a pdf)
How AI Agents Work
An example of AI-produced estimation work.
AI agents use a combination of machine learning, business rules, and real-time data to assess situations and make context-aware decisions. They may also collaborate with other systems (or agents) to complete more complex workflows. In the future, the situation will be: “My AI agent will interact with your AI agent.”
Unlike bots, agents don’t need constant direction — they continuously monitor your ERP environment, identify issues or inefficiencies, and take action, or escalate issues, based on what they learn.
Key Characteristics of AI Agents: AI Agents are…
Proactive and decision-capable
Context-aware and learning-enabled
Ideal for complex, dynamic environments
Able to collaborate with humans and other AI agents
How AI Bots Help Drive Efficiency
Here’s where AI bots shine in an organization’s ERP:
This is an example of how AI can take a query on specific details of a project.
Real-Time Access to Key Metrics: Instead of digging through menus, just ask, “What’s the ETA on framing materials for Lot 12?”
Task Automation: Have a bot handle repetitive updates, such as progress reports or permit application status changes.
Simplified Training: New team members can ask bots for help or data without needing to master the full ERP system right away. These make implementation and onboarding both much easier on the user, and much more quickly for the company.
For instance, if a site manager types “Update Project Greenhill’s status to ‘Electrical Started,’” the bot immediately logs the update, notifies relevant parties, and triggers the scheduling of the next phase.
How AI Agents Transform Home Builder Operations
Predict Delays Before They Happen: By analyzing weather, labor availability, and supplier delivery timelines, agents can warn you days in advance that a project might miss its completion target.
Optimize Material Orders: Agents can analyze usage trends, lead times, and current inventory to auto-generate purchase orders, preventing costly delays due to material shortages.
Prevent Cost Overruns: Agents can flag budget creep in real-time by correlating field reports, change orders, and supplier billing.
For example, an AI agent notices a pattern of delays every time HVAC installs are scheduled on multi-story builds. It alerts your operations manager and recommends a shift in the workflow to avoid stacking subcontractors inefficiently.
What Should Companies Look for in ERP AI Capabilities
When shopping for an ERP system, consider asking the following:
Does the system offer both AI bots and agents? You want short-term efficiency (bots) and long-term intelligence (agents).
Can bots be customized for your workflows? For example, if you often ask for subcontractor performance metrics, your bot should learn to retrieve those instantly.
Are agents configurable to your business rules? AI agents should reflect your company’s way of building — not just a generic model.
Is there transparency in decision-making? Builders need to trust the system — look for ERPs where agents explain why they made a recommendation.
What’s the roadmap? Ensure the vendor is investing in future AI development so your ERP evolves with your business.
AI in an ERP isn’t just a buzzword anymore — it’s a strategic advantage for builders ready to scale smarter and work more efficiently. AI bots can help a team move faster, while AI agents help the team to build better by offering insights, automation, and predictive intelligence.
Final Thoughts on AI Bots and Agents
It is very important to note that while some systems have most of these elements, no system has all of them wrapped up together. Builders may still need to add specific tools to whatever system they are using. Think of AI bots as a digital intern — and AI agents as a future project manager. The right ERP system should empower both.
As builders evaluate ERP platforms, it’s best to look beyond checkboxes and dig into how the system helps you build. Whether a custom builder or a regional production builder, a modular factory, a manufactured home builder, a community, or a dealer, all of these companies can benefit from an ERP system, even if they won’t use the whole system, or won’t all use it the same way.
But embracing the right kind of AI can be the blueprint for growth.
Erik Cofield is the vice president of strategy for MerlinAI. He has 30 years of experience helping companies in residential construction. A member of NAHB, Cofield specializes in AI, sales and marketing strategy, business management, and leveraging technology in the sales process. He has provided consulting services to builders, developers, remodelers, and construction companies of all sizes and types. He is the author of books available through Amazon and can be reached at erik@merlinai.co.
Spencer Roane, one of the founders of SECO, addresses 2024 attendees in Atlanta.
Educational Panels, Industry Exhibitors, Model Homes Sept. 8-10
Chris Nicely from ManufacturedHomes.com leads a panel of manufacturers talking about their new offerings in 2024.
The SECO Conference of Community Owners reconvenes in about a month at Atlanta’s Cumberland neighborhood, a bustling section of the metro that, among other things, hosts Truist Field, the home park for Major League Baseball’s Atlanta Braves and the host of this year’s MLB All-Star Game.
SECO is open to all manufactured housing professionals. SECO 2025 will take place Sept. 8-10.
SECO 25 will include an outdoor village-style setting with a collection of model homes featuring the latest designs, structural improvements, architectural features, and “oh wow” technologies that are driving the manufactured housing industry.
This year’s event also marks the beginning of a new relationship, with SECO partnering with the I’m HOME Annual Conference, Sept. 10-11, bringing a broader audience focused on affordable housing solutions and innovation. The I’m Home Conference is operated by the Lincoln Institute of Land Policy and will be held at an adjacent hotel, the Atlanta Marriott Northwest Galleria.
Tuesday, Sept. 9 will be a crossover day for I’M HOME attendees at SECO, including a collaborative 4 p.m. “Backyard BBQ” in the village.
What’s Happening at SECO 25?
A new manufactured home at SECO in 2024.
Following a breakfast and welcome on Monday Morning, Indiana Business Research Center Executive Director Dr. Philip T. Powell will present on the economics affecting manufactured housing, followed by Mobile Insurance’s Kurt Kelley providing information on challenges with liability and insurance, an introduction to the sponsors, and an industry lunch. Following lunch, attendees will be provided time to walk through the exhibit hall and to talk with colleagues. The afternoon agenda includes a lenders panel, a talk on Capex projects, and an overview on tree maintenance and liability management.
Tuesday of the event gets into a manufacturers panel, micro-sessions/money makers, a session on chattel financing, and a community owners panel. The half-day Wednesday to close out SECO 25 focuses on community lending programs with a half-hour wrap-up at noon.
Registrants and other guests of SECO 2025 will get the experience of staying at the Renaissance Atlanta Waverly Hotel, which is a short walk from the ball field and entertainment district with many area attractions, including some of Atlanta’s best eateries.
Approximately 500 manufactured housing professionals are expected to attend SECO 25. The event includes a Monday evening add-on opportunity at Truist Park to watch the Braves host the Chicago Cubs.
The RV/MH Hall of Fame has named Daryll Milnikel as its president following the departure of Darryl Searer, who retired after leading the way since 2012.
Milnikel was in the U.S. Marine Corps involved in recruitment, human resources, transportation, and security operations. He was in combat deployments in support of Operation Enduring Freedom. In the private sector, he led product design and portfolio management initiatives for commercial and group insurance carriers, including G.E.H.A. and Humana.
He also held business management roles supporting government insurance programs with WPS.
“Our objectives are to preserve the histories of two industries that have had meaningful impacts on the lives of families throughout North America, recognize its leaders and innovators, and educate and entertain the public,” Hall of Fame Executive Vice President Ryan Szklarek said. “Our team looks forward to the continued work with Daryll on the improvement of all phases of our operations.”
After the Marines, Milnikel spent years in corporate and private insurance on the payer side running operations, change management, product design, development, and management.
“I’ve held leadership positions that required working with boards — both in the military and corporate sectors — often balancing governance, budget, and strategy discussions,” he said. “On the events side, my roles have included managing large-scale internal functions, public programs, and stakeholder summits.”
Milnikel grew up in the “Michiana” area and had heard about the hall and event center, but had not been there to see for himself until he met with board members about the leadership position.
“I was struck by how much history is packed under one roof. It’s a space that blends nostalgia with real innovation — and I walked away with a deeper appreciation for how RVs and manufactured homes shaped American travel and lifestyle,” Milnikel said. “It was an overwhelming feeling of wanting to be part of an organization like this and help champion the stories of these industries.”
Board Chairman Joe Stegmayer said the RV/MH Hall of Fame and Museum is in the strongest position in its 53-year history.
“As we enter the next era of growth, Daryll brings the skills and experience that will assure sound guidance for continued mission progress and development,” Stegmayer said.
Milnikel said he has deep respect for the manufactured housing industry, providing vital housing solutions to millions.
“It often is underrepresented in conversations about innovation and impact,”Milnikel said. “At the hall, part of our responsibility is to elevate and preserve that legacy alongside RVs — and I’m committed to doing that intentionally and inclusively.”
The event center is a key piece of the organization’s sustainability model, he said, and he already is actively involved in planning and executing community and industry events.
“It is still early, but I’m certainly focused on refining our internal operations, expanding our community and industry reach, and increasing engagement with both sectors we represent,” he said. “You’ll see some changes in marketing, technology integration, story telling through our museum exhibits and event programming as we move forward — all with the goal of ensuring our hall stays relevant, well-resourced, and mission-driven.”
CoverTree, a leading insurtech for manufactured homes, has announced a new integration of its Maple insurance tracking platform within ManageAmerica property management software.
The partnership and the new technology combined mark a first-of-its-kind partnership. It embeds real-time insurance compliance, powered by artificial intelligence and automation, directly into the tools community operators already use — eliminating manual tracking, reducing liability, and unlocking new revenue opportunities without disrupting existing workflows.
“Together with ManageAmerica, we’re making insurance compliance effortless, revenue-generating, and scalable for manufactured housing operators,” CoverTree CEO Adarsh Rachmale said. “This partnership is designed to remove all friction for community managers while ensuring residents stay protected with tailored insurance products.”
The Maple product already is in use for hundreds of communities and thousands of residents in 20 states. Rachmale said the intent is for Maple to transform insurance management into a seamless, automated process that protects operators and empowers residents.
The Reason Community Operators Adopt Maple
Reduced Liability – Continuous tracking of policies post move-in; instant alerts for cancellations or gaps.
Seamless Integration – Fully embedded inside ManageAmerica with no extra logins or systems.
AI Automation – Onboarding, communication, and compliance tracking are fully automated.
Revenue Generation – Cover admin fees or earn referral revenue through CoverTree’s resident-first insurance options or Blanket Resident Liability programs.
Tailored Insurance – Fast, custom coverage for manufactured housing residents; quote and bind online in under 5 minutes.
ManageAmerica CEO Caitlin Pomeroy said she feels the company’s technology and marketplace vision are “truly best-in-class.”
“We’re thrilled to partner with CoverTree to offer community owners this smart, simple, and safe way to manage resident insurance,” she said.
The integration, for both companies, reflects a shared mission to equip manufactured housing communities with smarter tools, safer operations, and effortless compliance.
Triad Financial Services, among the leading lenders in manufactured housing, has announced that Cody Pearce has joined the company as co-CEO.
With more than 25 years of experience in the manufactured housing finance sector, Pearce brings a wealth of industry knowledge, leadership, and innovation to Triad.
As co-founder and former President of Cascade Financial Services, Pearce helped build a leading national lending institution that became both a formidable competitor and respected peer within the industry, Triad stated in a news release. Pearce’s appointment marks an important milestone for Triad, it said, as the company continues to expand its lending footprint and deliver innovative, attainable financial solutions to individuals and families across the country.
“Cody is a proven leader and a true expert in the manufactured housing space,” Triad Co-CEO Lance Hull said. “His track record of building and scaling one of the most respected lending institutions in our industry speaks for itself. Cody and I have long shared a deep mutual respect — not only for each other, but for the values and vision that drive this business. I believe he is the right person, at the right time, to help lead Triad into its next era of growth and innovation. Together, we bring complementary strengths — and together, we will be stronger.”
Pearce’s addition reflects Triad’s ongoing commitment to not only advancing its business goals, but also its mission of accelerating the dream of homeownership and building stronger communities nationwide, it said.
A Cavco Industries home building facility. Photo courtesy of Cavco.
Houston-based Company Would Add to South Central Presence
American Homestar Corporation, a Houston-based company that runs a pair of home building facilities and 19 retail locations, is set to be acquired by Cavco Industries, the country’s third largest manufactured housing builder.
American Homestar is best known for its brand Oak Creek Homes.
In addition to building and selling homes, American Homestar offers a small number of manufactured home loans and acts as an agent for third party insurers. It has 800 employees, and recent annual revenue of about $190 million. Net income was $16.6 million during the most recent 12 months. During that time, American Homestar produced more than 1,600 homes.
Cavco stated in a prepared release that it will acquire American Homestar for $190 million in cash, subject to customary purchase price adjustments. The acquisition is intended to be funded entirely from the company’s cash on hand and is expected to close in the third quarter of fiscal year 2026, subject to applicable regulatory approvals and the satisfaction of certain customary closing conditions.
“Throughout the acquisition process, we developed a tremendous respect for what Buck Teeter, Dwayne Teeter, and the entire American Homestar team have built,” Cavco President and CEO Bill Boor said. “For decades, they guided the company through industry downturns and challenges, consistently adapting and ultimately thriving.
“American Homestar is a leader in our industry because it embodies the Teeters’ values and focus on providing quality homes for deserving families,” Boor said. “We at Cavco are grateful for their trust and are excited to join forces in the South Central U.S.”
American Homestar was founded in 1971 by Buck Teeter, and is now run by his son, Dwayne Teeter.
“American Homestar focused on providing high-quality, affordable housing while also fostering a stable and rewarding work environment for its employees. As we enter this exciting new alliance with Cavco, we know this combination is a perfect cultural fit and that our people will be part of a dynamic, growing company, well-positioned to compete in an ever-changing environment,” Dwayne Teeter said. “We thank Bill Boor and the entire Cavco team for their interest in American Homestar and their commitment to making this transaction happen.”
In addition to implementation of shared best practices, the acquisition provides the opportunity for meaningful cost, purchasing, and product optimization synergies. It should strengthen Cavco’s position in the South-Central U.S, providing an increased presence across Texas and surrounding states.
The labor market in June came in ahead of analyst predictions, with 147,000 jobs created during the month, well ahead of the anticipated 106,000.
Much of the boost came from government and health care, the BLS report said.
Additionally, April and May job numbers were revised up 16,000, bringing the recent gain to more than 163,000 jobs.
Unemployment stayed steady at 4.1 percent.
Labor force participation changed little at 62.3 percent in June, and the employment-
population ratio held at 59.7 percent.
Government employment rose by 73,000 positions in June. Employment in state government increased by 47,000, largely in education, with an added 40,000. Employment in local government education was up by 23,000. Job losses continued in federal government, down 7,000 positions. Employment in the sector is down by 69,000 since reaching a recent peak in January. One important note on government employees, those on paid leave or receiving severance are counted as employed.
Health care added 39,000 jobs in June, similar to the average monthly gain of 43,000 during the last year. In June, job gains occurred in hospitals, at 16,000, and in nursing and residential care facilities, with 14,000. In June, social assistance employment continued to trend up at 19,000 jobs gained, reflecting continued growth in individual and family services , up 16,000.
Employment showed little change over the month in other major industries, including:
*Mining, quarrying, and oil and gas extraction *Construction *Manufacturing *Wholesale trade *Retail trade *Transportation and warehousing *Information *Financial activities *Professional and business services *Leisure and hospitality
First Trust Chief Economist Brian Wesbury said the headline looks good, but that the details should dampen any urge to celebrate.
“Private payrolls were up only 74,000 in June and were revised down 16,000 for prior months, bringing the net gain to 58,000,” he and Deputy Chief Economist Robert Stein told subscribers to the First Trust newsletter. “In other words, the gain in June itself was roughly half due to government and all the upward revisions were due to the government, as well. Perhaps the worst news was a 0.3 percent decline for total private-sector hours worked.
The measure of core payrolls, excluding volatile sectors that rely on government, June accounted for 3,000 jobs.
New claims for unemployment insurance declined, 4,000 in early July to 233,000.
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