Commercial foreclosures rose 11% from the previous month and 27% from the previous year, reaching 725 in December 2024, one of the highest levels in recent years. California led with 257 foreclosures, followed by New York with 73 and Florida with 67. The increase reflects financial strain in the commercial sector due to interest rates and economic pressures. Historical data shows cycles of distress and recovery, with a significant low in April 2020, but a resurgence began in mid-2021, culminating in the recent spike.
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