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Multifamily loan balances rise 53% since 2019, CRED iQ data shows
U.S. bank real estate loan balances totaled $6.14 trillion in Q1 2026, with multifamily at $665 billion and residential still the largest category at $3.1 trillion.
U.S. bank real estate loan balances totaled $6.14 trillion in the first quarter of 2026, according to CRED iQ data cited by Commercial Observer. Since the first quarter of 2019, the mix of that loan book has shifted, with multifamily showing the fastest growth on a percentage basis.
Commercial Observer reports that multifamily balances rose about 53 percent since Q1 2019, reaching an index of 153 as of Q1 2026. Over the same period, the much larger residential segment grew about 17 percent, with its index at 117, while core commercial real estate increased roughly 32 percent to an index of 132, and construction and development rose about 28 percent to an index of 128.
In dollar terms, the ranking differs from the percentage gain. Commercial Observer says residential added roughly $445 billion in outstanding balances since 2019 and core CRE added about $467 billion, both exceeding multifamily’s increase of about $229 billion, even though multifamily posted the largest percentage rise.
Residential remains the biggest category on bank balance sheets, Commercial Observer reports, at $3.1 trillion, or roughly half of all bank real estate lending. The outlet also notes that construction and development peaked near an index of 142 in 2024 before declining into early 2026, ending at 128, and that balances reflect loans held by FDIC-insured institutions and exclude loans originated and sold into secondary markets.