Commercial real estate foreclosures increased 97% in January 2024 compared to last year, reaching a high that has not been seen in nearly a decade, according to new data.
With 635 commercial foreclosures in January 2024, foreclosures increased 17% from December 2023 and 97% from January 2023, according to a report last week from property data analyst ATTOM.
The last time that commercial foreclosures were this high was in May 2015, per agency data.
"This uptick signifies not just a return to pre-pandemic activity levels but also underscores the ongoing adjustments within the commercial real estate sector as it navigates through a landscape transformed by evolving business practices and consumer behaviors," ATTOM CEO Rob Barber said.
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