CMF Quote of the Week

“Commercial real estate lending rebounded to $498 billion in 2024, up 16% from the prior year and driven largely by multifamily activity and continued strength from dedicated mortgage banking firms, which closed $411 billion in loans.”
–Reggie Booker, MBA’s Associate Vice President of Commercial Real Estate Research

Total Commercial Real Estate Borrowing and Lending Increased 16% in 2024

Total commercial real estate mortgage borrowing and lending is estimated to have totaled $498 billion in 2024, a 16% increase from the $429 billion in 2023, and a 39% decrease from $816 billion in 2022, according to MBA’s 2024 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.

March Housing Starts Fall From February

Privately-owned housing starts for March were at a seasonally adjusted annual rate of 1,324,000, the Census Bureau reported. That’s 11.4% below February’s revised estimate of 1,494,000.