Commercial real estate foreclosures jumped 117% in March as trouble looms [FOX Business Network]
First Citizens BancShares, Inc. - Class A (FCNCA)
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Source: FOX Business Network
There were 625 commercial real estate foreclosures in March, up 6% from February and 117% from the same time last year, according to a new report published by real estate data provider ATTOM. The figure is calculated based on commercial properties with at least one foreclosure filing – including default notices, scheduled auctions and bank repossessions – entered into the ATTOM Data Warehouse during the month. California had the highest number of commercial foreclosures in March, with 187 properties. While that marked an 8% decrease from the previous month, it is a stunning 405% jump from the previous year. "California began experiencing a notable rise in commercial foreclosures in November 2023, surpassing 100 cases and continuing to escalate thereafter," the report said. New York, Florida, Texas and New Jersey also saw notable increases in commercial foreclosures last month. Foreclosures have steadily risen since May 2020, when they hit a record low of just 141 properties
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FCNCA
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- 4/25/24 - Beat
FCNCA
Sec Filings
- 4/30/24 - Form 4
- 4/26/24 - Form 144
- 4/25/24 - Form 8-K
- FCNCA's page on the SEC website