Despite a high number of delinquencies due to the coronavirus pandemic, banks in the United States continued to give out nonresidential construction loans in the second quarter, according to recent data from S&P Global Market Intelligence.
About $280.6 billion in construction loans existed in the second quarter, which was a 2.9 percent increase from the start of the year. Construction loans from banks were a 3.46 percent total of the total loans and leases.
Loans for nonresidential construction lending rose 4.2 percent to $300.35 billion in the second quarter, and residential construction loans for one- to four- family residences decreased 1.4 percent to $80.25 billion.
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Pearl Wu
Pearl Wu is the editorial Recognition Desk Manager at ALM Media and oversees the administrative aspects of U.S. Legal awards. Please find our upcoming deadlines here.
