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- Commercial foreclosures jumped 117% year-to-date in March, data from ATTOM shows.
- It reflects difficulty for the real-estate market, which has been hurt by high interest rates.
- Offices have led the drawdown, with sector delinquency rates still rising in the first quarter.
The commercial real estate market is still struggling, made all the more clear by the rapid upswing in property foreclosures.
Foreclosure activity jumped by 117% year-over-year in March, real estate data provider ATTOM reported on Wednesday. That indicates 625 foreclosures, a stark contrast to the pandemic lows, where foreclosures bottomed at 141 in May 2020.