{"id":1004815325,"date":"2026-11-09T04:25:58","date_gmt":"2026-11-09T12:25:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004815325"},"modified":"2026-11-09T04:44:02","modified_gmt":"2026-11-09T12:44:02","slug":"why-refinancing-is-recovering-faster-than-sales","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/why-refinancing-is-recovering-faster-than-sales\/","title":{"rendered":"Why Refinancing Is Recovering Faster Than Sales"},"content":{"rendered":"\n
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This article first appeared in the CPE Sneak Peek Newsletter. Subscribe now<\/a> for early access to exclusive content, in-depth analysis and key trends!<\/em><\/p>\n<\/blockquote>\n\n\n\n

Commercial real estate owners are finding it easier to replace a mortgage than to agree with a buyer on what their property is worth. That’s helping refinancing recover faster than sales and allowing improving liquidity and delayed repricing to coexist.<\/p>\n\n\n

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AI, other technology investments and financial markets are competing with real estate for investor capital, according to Native Realty\u2019s Jaime Sturgis. Image courtesy of Native Realty<\/em><\/figcaption><\/figure><\/div>\n\n\n

First American Financial’s second-quarter 2026 analysis puts the gap in perspective. Across five major property types, refinancing volume reached $137 billion, up 19 percent year-over-year and 53 percent above the 2016-2019 quarterly average. Sales totaled $120 billion, up 15 percent from a year earlier but still about 6 percent below their pre-pandemic benchmark.<\/p>\n\n\n\n

The divergence signals that credit is available for many owners, but it doesn’t establish that their equity has recovered or that they could sell at a price they would accept. Refinancing can preserve ownership while leaving that disagreement unresolved.<\/p>\n\n\n\n

“An owner can decide to wait another year before selling a building,” said Ian Arguno, head of analytics at commercial real estate intelligence platform and marketplace Realmo. “When the mortgage comes due, the lender gets a vote.”<\/p>\n\n\n\n

As loan maturities<\/a> arrive, the distinction becomes consequential. Properties that support replacement debt can remain off the market. Those that need additional capital will test both the sponsor’s resources and the lender’s willingness to provide more time.<\/p>\n\n\n\n

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