Commercial/multifamily industry news from SitusAMC and RealPage.
Category: News and Trends
More Companies Shifting Office Strategies, CBRE Finds
More companies are shifting their office portfolio strategy toward expansion after focusing on contraction since the pandemic, according to a new CBRE survey.
Millennials Trying to Save for Homes, but Rent Is Too High, Survey Finds
Lombardo Homes, Shelby Township, Mich., recently released a new survey finding that while 51% of non-homeowner Millennials say they are saving for a home purchase, 77% also say rent is so high it poses a challenge.
RealPage: Survey of Multifamily Trends Shows Renters’ Priorities
RealPage, Richardson, Texas, released findings from its national survey of apartment residents, finding they prioritize technology, easy moves, rewards and flexibility.
Redfin: Investor Home Purchases Post Biggest Increase Since Q2 2022
Investor purchases of homes were up 3.4% year-over-year in Q2, per Redfin, Seattle.
MBA: Commercial/Multifamily Borrowing Increased 3% in the Second Quarter
Commercial and multifamily mortgage loan originations increased 3% in the second quarter of 2024 compared to a year ago, and increased 27% from the first quarter of 2024, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Dealmaker: Walker & Dunlop Arranges $128M for New York Multifamily Portfolio
Walker & Dunlop, Bethesda, Md., secured $128 million in financing for the acquisition of nine Manhattan properties, all located within a two-block stretch in Manhattan’s East Village neighborhood.
CREF Policy Update: VP Harris Unveils New Economic Agenda
Commercial and multifamily developments and activities from MBA important to your business and our industry.
MBA: Multifamily Lending Declined 49% to $246 Billion in 2023
In 2023, 2,520 different multifamily lenders provided a total of $246.2 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association’s annual report of the multifamily lending market.
CMF Quote of the Week: Aug. 15, 2024
“Multifamily lending fell by roughly half in 2023 as sales transactions declined and far fewer property owners sought to refinance their loans.”
–Jamie Woodwell, MBA’s Head of Commercial Real Estate Research