A Sears prefab home would not be cheaper today because the inefficiencies that they solved in the early 1900s are no longer a problem. That, and it's infeasible for a person to construct their own house anymore, given building codes and such.
Cookie cutter homes can be ridiculously cheap to build if done correctly. In really large developments, it's common for teams to move from house to house every day. Almost like an assembly line. This cuts down on a tremendous amount of wasted time.