Commercial Real Estate & Business News – February 17, 2017

Mortgage professionals gathered for day two of the Mortgage Bankers Association’s National Mortgage Servicing Conference in Dallas, where the MBA outlined its economic outlook for 2017. The MBA stated that the economy will see steady, modest growth as the Federal Reserve begins to see some of its economic targets hit. In fact, Lynn Fisher, MBA vice president of research and economics explains these targets being reached could lead to a change in economic policy…»

U.S. retail and food services sales enjoyed a 0.4 percent increase in January ($472.1 billion in sales), more than economists expected, the U.S. Census Bureau reported on Wednesday. Compared with January 2016, the increase was 5.6 percent. Not only that, sales in December were revised from up 0.6 percent to up 1 percent…»

Many of the leading U.S. commercial and multifamily markets experienced substantial gains in 2016 over 2015-aside from New York-according to new data from Dodge Data & Analytics. New York remains the top metropolitan commercial and multifamily market in 2016 by the dollar value of its construction starts, but its $29.8 billion construction value last year reflects a 15% drop from the $35.2 billion value of its construction starts in 2015, which itself was a 67% surge in growth from 2014…»

With a new administration in office, the industry is bracing for changes to everything from tax codes and interest rates to the government-sponsored enterprises, particularly Fannie Mae and Freddie Mac…»

U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month’s data and a jump in permits to a one-year high suggested the housing recovery remained on track…»