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CRE Lending Dropped 8% in 2022; Still Second-Highest Tally on Record

Total commercial real estate mortgage borrowing and lending equaled $816 billion in 2022, an 8% decrease from the record $891 billion in 2021 and a 33% increase from $614 billion in 2020. That’s according to the Mortgage Bankers Association’s (MBA) 2022 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation. 

“Borrowing and lending backed by commercial and multifamily properties started 2022 strong but then dropped off because of rising interest rates, uncertainty about property values, and increased questions about the economy and some property fundamentals,” said Jamie Woodwell, MBA’s head of commercial real estate research. “Despite the 8% annual decline, the $816 billion in total volume was still the second highest on record. Bank lending ran against the trend, increasing by 12% to $409 billion.” 

He added, “A key question for 2023 is when the market will have stabilized enough for the logjam in new deal activity to break.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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