As a priority, it wants to see the Government boost confidence among lenders, insurers and home buyers by collecting data to demonstrate the value and durability of MMC homes.
It argues that the Government will need to act swiftly to raise supply chain capacity.
This includes providing easy access to finance to allow smaller MMC builders to invest in new factories.
There should also be a fresh focus on ensuring the workforce has the required skill set for developing technologies.
The Government should develop a digital database that records the design, processes and materials.
Committee chair Clive Betts said: "If the Government is to have any chance of meeting its target of 300,000 new homes a year it cannot simply rely on traditional methods of construction.
"This is not simply about shifting production away from the building site and into factories.
He said: "First and foremost they must create the conditions to improve investor and consumer confidence.
"Reluctance is understandable. The perception is that the building innovations of the sixties created homes that failed to survive half a century, while rows of Victorian terraces are still standing.
"Proving quality and longevity will be key. That is why we have called on the Government to collect and publish the data that prove new building methods work, and also show if they have failed.
"They will need to ensure that the right training schemes and apprenticeships are in place so that we have the skilled workforce that can utilise MMC techniques.