Foreclosures on commercial properties in the U.S. reached a peak of 625 in March 2024, up 117% year over year, thus continuing an upward trend that began soon after foreclosures dipped to their lowest point in a decade in May 2020.

With the exception of Ohio, commercial foreclosures in March this year were significantly higher than at the same point in 2023 in 10 states analyzed by ATTOM.

The discrepancy was highest in California, which saw a 405% year-over-year spike from 37 in March 2023 to 187 this year. The March 2024 figure was a slight improvement over the previous month, showing an 8% drop.

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