U.S. ? (www.costar.com) Commercial real estate lending among banks during the second quarter continued to provide good news and bad news for CRE borrowers.
Overall, lending for investment and multifamily properties continued to increase modestly with multifamily lending up more than 1.6%, outpacing the year-over-year growth of slightly more than 4%.
Nonresidential CRE investment lending also saw a modest increase during the second quarter of half a percent, although off the pace as compared to the year-over-year increase of slightly more than 9%.
However, neither gains in investment or multifamily lending were enough to make up for the decline in construction and development lending, which was down 4.8% in the quarter and 20.8% year to year. Balances of real estate construction and development loans fell by $10.9 billion in the quarter while the balances on investment CRE and multifamily properties increased only $6.7 billion.
As a result, overall CRE lending slipped four-tenths of a percent from the first quarter and down 3.4% from a year earlier, according to data CoStar Group collected and analyzed from FDIC for the nation?s 7,522 operating banks and savings and loans.
Also notable in the second quarter numbers is that small and large businesses that own their occupied properties faced a tougher borrowing environment. Bank lending for refinancing or buying owner-occupied CRE properties dropped four-tenths of a percent in the second quarter following three previous quarters of increases.
Additionally, business loans to small business secured by nonresidential real estate were down 1% from the previous quarter and down 5% year over year. Banks had 185,642 fewer small business loans on their books at the end of the second quarter of this year compared to the same period last year. That amounted to $32.5 billion less in outstanding small business loans?
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