Commercial Real Estate Foreclosures Soar To Levels Not Seen In Nearly A Decade

Larger cracks are appearing in the US commercial real estate market at a time when uncertainty around the regional bank industry flashes red.

The latest report from real estate data provider ATTOM shows CRE foreclosures topped 625 in March, up 6% from February and 117% from the same period last year.

ATTOM has been tracking commercial foreclosures since 2014. The number of foreclosures is approaching the peak of 889 in October 2014.

“California began experiencing a notable rise in commercial foreclosures in November 2023, surpassing 100 cases and continuing to escalate thereafter,” the report said.