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- Bank of America saw its clients pull $451 million from real-estate stocks last week.
- It's the largest outflow since July 2021, as concerns about the commercial property market intensify.
- Commercial real estate is facing headwinds from higher interest rates to tighter credit conditions.
Bank of America's clients pulled $451 million from real-estate stocks last week as troubles in the commercial property sector heat up.
"Outflows from real estate were the largest since July 2021 amid concerns around commercial real estate," bank's strategists led by Jill Carey Hall wrote in a Tuesday note.
Worries about the health of the commercial property sector are building as it faces a string of headwinds, from higher interest rates and work-from-home trends to tighter credit conditions.