Mortgage Report: Multifamily On the Mend
Average Rents Edge Up as Vacancies Dip
The Mortgage Bankers Association has released its Commercial Real Estate/Multifamily Finance Quarterly Data Book for the fourth quarter of 2010.
The Data Book compiles the most up-to-date information on topics of interest to commercial/multifamily real estate finance industry participants and observers.
The analysis within MBA’s Data Book shows both commercial and multifamily real estate markets on the mend.
Continued stabilization of, and modest improvement in, the economy continues to filter through to demand for commercial space.
The improved property fundamentals are helping buoy sentiment in the market – meaning more sales transactions and improved property pricing. Mortgage originations have increased with the transactions, and the amount of mortgage debt outstanding fell by the smallest amount in a year. The effect of improving property fundamentals and pricing can be seen in mortgage performance, which – for most investor groups – ended the quarter on far more stable footing.
Average rents edged up 2 percent in 2010, according to the report. The vacancy rate dipped by year end to 6.6 percent.
To view the report, please visit:
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