Multifamily Originations Buoying the Industry

Moody’s Investor Service and Real Capital Analytics, basing their studies on the same commercial properties over time, say the recovery of commercial property slowed in the first quarter as prices rose only 1.8%, although they have risen 28 percent since the low point of the crisis in 2010. Apartment prices have increased 18% over the previous year, as compared to a more modest 10% in the core commercial properties, and have risen 40% since the downturn compared to 23.7% in other core sectors. HousingWire adds Fannie Mae and Freddie Mac earned $7 billion since entering conservatorship in 2008, to Q1 2012, which accounted for their only profits generated in that period, and those came from financing multifamily mortgages. The Mortgage Bankers Association states multifamily mortgage originations rose 45% in Q1 2012 from the previous first quarter.

(Image credit: ForeclosusreListings)

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