WASHINGTON, D.C. (June 30, 2016)- The Mortgage
Bankers Association released its first quarter 2016 Commercial/Multifamily
DataBook today.
The report summarizes
major trends that developed during the quarter. Charts and tables provide
historical information on commercial and multifamily real estate markets.
MBA’s
Commercial/Multifamily DataBook reported that:
Domestic property markets
largely held steady. During the first quarter office vacancy rates fell from
16.2 percent to 16.1 percent, retail vacancy rates held at 10.0 percent and
apartment vacancy rates climbed from 4.4 percent to 4.5 percent. Tight or
tightening markets boosted rents by 2.1 percent for retail, 3.0 percent for
office and 4.6 percent for apartments on a year-over-year basis.
The improving bottom line
continues to draw new development activity, with the value of selected
CRE-related construction put-in-place in April up 7 percent from a year before.
Multifamily permitting and starts remain strong, such that there are more
multifamily units under construction than at any time since the mid-1970s.
Commercial property sales
were solid in the first quarter, but below the high level seen one year prior.
Sales of office, industrial and retail properties were below Q1 2015 levels,
while multifamily sales were up 12 percent.
In the aggregate,
commercial real estate borrowing and lending started 2016 in a similarly strong
fashion to 2015. Borrowing backed by retail, office, hotel and multifamily
properties picked up, as did lending by banks. Disruptions in the broader
capital markets pushed originations for commercial mortgage-backed securities
down.
For a complete copy of the company’s news release, please
contact:
Ali Ahmad
(202) 557-2727
No comments:
Post a Comment