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Refinancing is back, but only for the strong, as 2026 ushers in a ruthless underwriting reset.

New GSE caps raise total multifamily lending capacity to $176B for 2026, marking a 20% increase in available agency financing.

Delinquencies rose slightly in December, but office properties posted their second month of improvement.

CRE heads into 2026 with tempered optimism as capital flows return, office demand stabilizes, and industrial rebounds.

The annual recap of what we’ve been up to over the past year and where we see the future of the CRE Daily brand.

Markets that built more apartments saw meaningful rent reductions, while cities with less new construction saw rents hold steady.