Commercial Real Estate & Business News – February 15, 2016

Happy President’s Day!

In 2015 construction spending for ongoing projects across the nation hit its highest annual level since 2008. Construction began on projects worth a total value of $469.5 billion, a 4% increase over 2014, according to Dodge Data. Last year’s growth came at a slower pace than the double-digit jumps of prior years: 2014 was up 16% annually to $453.4 billion; 2013 up 19% to $389.2 billion; and 2012 up 11% to $326.5 billion… Read more »
Delinquencies on Fitch-rated CMBS loans fell 109 basis points in January to 2.93% from 4.02% at year-end 2015. The last time late-pays were below 3% was in June 2009. The dollar balance of delinquencies fell $4.2 billion to $11.1 billion from $15.3 billion in December… Read more »
“National reports indicate a lack of qualified construction workers in the Valley,” said Cheryl Lombard, CEO and President of Valley Partnership. “This is profoundly affecting developers and their new projects, as well as residential homebuilders”… Read more »
A review of 2016 acquisition and disposition activity for 2016 finds a majority of the nation’s publicly traded REITs and real estate companies expect to be big sellers of properties this year, with the projected total of property dispositions more than double that of acquisitions… Read more »
Home prices across the United States, including distressed sales, increased year on year by 6.3% in December 2015 and increased month on month by 0.8%, the latest index shows. And forecast data from the CoreLogic House Price Index also indicates that home prices are set to rise by 5.4% this year… Read more »