Chart of the Week: Total Commercial Real Estate Lending

According to MBA’s Annual Origination Summation, from 2020 to 2024, commercial and multifamily mortgage originations experienced notable shifts across investor types. The market peaked in 2021, driven by heightened activity across nearly all sectors, before experiencing a sharp decline in 2023. A modest rebound followed in 2024.

CMF Quote of the Week

“Multifamily fundamentals continue to strengthen due to strong renter demand and a diminishing construction pipeline. We expect the gains to continue this year and accelerate in 2026.”
–Kelli Carhart, Head of Multifamily Capital Markets for CBRE