The aggregate amount of foreclosed properties dropped $949 million in the first quarter. Unlike in past quarters when multifamily properties made up the largest share of the decline of REO properties, this quarter the share of construction and development properties declined the most. Banks ended the quarter with an aggregate of $841 million less in C&D properties; $105 million less in nonresidential real estate and only $2.7 million less in multifamily properties.
This is a good sign of the recovery in Commercial RE.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.