California led the nation with the highest number of commercial property foreclosures in June, according to new data from ATTOM. The state’s 214 commercial foreclosures last month represented a 10% decline from May but was also a 289% increase from June 2023.
June’s data marked California’s first monthly decline after seven consecutive months of rising commercial foreclosure levels. Still, California accounted for a vast majority of the nation’s commercial foreclosures, which totaled 647 during June.
Texas, New York, New Jersey, and Florida followed California with highest numbers of commercial foreclosures in June 2024. Texas had a total of 70 commercial foreclosures in June, a 1% decrease from last month and a 100% increase from a year ago. New York saw an 8% decrease from the previous month and a 21% percent decrease from one year earlier.
New Jersey saw a 35% drop from May and a 34% increase from June 2023. And Florida recorded a 45% decrease from the previous month and a 10% increase from one year earlier.
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