Improving delinquency rates for most commercial real estate over the first half of the year can be looked at favorably, but there are signs that the path to recovery to the norm may be protracted over a longer period.
According to the September data set from Trepp's Anonymized Loan-Level Repository (T-ALLR), the office delinquency rate has risen to 0.9%, up from its pre-pandemic 0.1% rate.
Similarly, the multifamily delinquency rate has risen to 0.6%, from 0.2% before COVID-19 hit in early 2020. The industrial delinquency rate is a very low 0.1%, reflecting the strength of the sector through both the recession and recovery.
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