Recovery of the commercial real estate market remains in question as the Moody’s commercial property index dropped 3 percent in October. The index is down over 32 percent from a year ago and over 40 percent from two years ago.
The Mortgage Bankers Association reported loan activity for commercial and multifamily real estate fell 54 percent in the third quarter from a year ago.
DHW asks: Is the commercial real estate market in your area on the decline?
Housing and manufacturing appear to be leading the recovery. Today, Neil Irwin with The Washington Post reported that manufacturers expanded at their fasted rate in three years last month. ‘The Institute for Supply Management’s index of manufacturing activity rose to 55.7 from 52.6 in September. Numbers above 50 indicate that the sector is expanding, and the index has now been above that level for three straight months.’
DHW asks: Do you think the growth in housing and manufacturing will sustain itself?