The commercial building sector continues to be under financial pressure as foreclosures nationwide increased 48% in June compared to June 2023, according to ATTOM, a real estate data analysis firm.
Commercial foreclosures decreased month over month by 14%, but the 647 foreclosures in June reflect a 219% increase compared to the recent low mark of 141 in May 2020. California had the highest number of commercial foreclosures in June, at 214. This was a 10% decrease from May 2024, but a 289% increase from last June.
Texas, New York, New Jersey, and Florida, following California, recorded the highest numbers of commercial foreclosures in June. While these states experienced decreases this quarter, they have exhibited significant fluctuations over the past decade. Each state is showing a continuous overall increase in foreclosures.
Texas had a total of 70 commercial foreclosures in June 2024, a 1% decrease from last month and a 100% increase from a year ago. New York saw an 8% percent decrease from last month and a 21% decrease from last year. New Jersey saw a 35% decrease from last month and a 34% increase from last year. Florida saw a 45% decrease from last month and a 10% increase from last year.
Related Stories
| Oct 7, 2013
Nation's first glass curtain wall exterior restored in San Francisco
The Hallidie Building's glass-and-steel skin is generally recognized as the forerunner of today’s curtain wall facilities.
| Oct 7, 2013
10 award-winning metal building projects
The FDNY Fireboat Firehouse in New York and the Cirrus Logic Building in Austin, Texas, are among nine projects named winners of the 2013 Chairman’s Award by the Metal Construction Association for outstanding design and construction.
| Oct 2, 2013
Corporate HQ in 10 months made possible with BIM coordination
An integrated Building Team uses BIM/VDC to convert a 1940s-era industrial building into a flashy new headquarters for Hillshire Brands in a matter of months.
| Oct 1, 2013
13 structural steel buildings that dazzle
The Barclays Center arena in Brooklyn and the NASCAR Hall of Fame in Charlotte, N.C., are among projects named 2013 IDEAS2 winners by the American Institute of Steel Construction.
| Sep 24, 2013
8 grand green roofs (and walls)
A dramatic interior green wall at Drexel University and a massive, 4.4-acre vegetated roof at the Kauffman Performing Arts Center in Kansas City are among the projects honored in the 2013 Green Roof and Wall Awards of Excellence.
| Sep 19, 2013
What we can learn from the world’s greenest buildings
Renowned green building author, Jerry Yudelson, offers five valuable lessons for designers, contractors, and building owners, based on a study of 55 high-performance projects from around the world.
| Sep 19, 2013
6 emerging energy-management glazing technologies
Phase-change materials, electrochromic glass, and building-integrated PVs are among the breakthrough glazing technologies that are taking energy performance to a new level.
| Sep 19, 2013
Roof renovation tips: Making the choice between overlayment and tear-off
When embarking upon a roofing renovation project, one of the first decisions for the Building Team is whether to tear off and replace the existing roof or to overlay the new roof right on top of the old one. Roofing experts offer guidance on making this assessment.
| Sep 17, 2013
World's first 'invisible' tower planned in South Korea
The 1,476-foot-tall structure will showcase Korean cloaking technology that utilizes an LED façade fitted with optical cameras that will display the landscape directly behind the building, thus making it invisible.
| Sep 16, 2013
Study analyzes effectiveness of reflective ceilings
Engineers at Brinjac quantify the illuminance and energy consumption levels achieved by increasing the ceiling’s light reflectance.