Manufactured Homes Not Selling in Tampa Bay

American Land Lease Inc.’s profits are slipping during the current Florida housing slump.

The Clearwater-based home manufacturer reported second quarter earnings of $1.1 million, or 13 cents a share, on revenue of $17.9 million compared with earnings of $2.2 million, or 28 cents a share, on revenue of $21 million for the same period last year.

Home sales volume was $7.92 million, down by 34.2 percent from the same period one year ago, with 65 new home closings, including 60 new homes sold on expansion home sites. This compares with 95 new home closings in second quarter 2006.

Average selling price per home was $122,000, down 2.4 percent from the prior year. New home sales activity continues to be challenging, as Florida mortgage borrowers take longer to sell their current homes, the company said in a release.