CRE Bankruptcies Up 46%
Foreclosure filings spiked to one in every 3,939 homes while twenty major metro areas saw prices drop by over 5% in cities like Tampa and Austin.
Commercial real estate is getting hammered even worse, with bankruptcy filings jumping 46% in one month and multifamily properties showing the worst delinquency rates at over 7%.
Cities like Nashville are drowning in inventory that’s spiked 64% in two years, creating a perfect storm of surging supply and falling prices.
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Multifamily Drives Increase in CRE Servicing, Delinquency Rates
Multifamily was the only major commercial real estate sector to post increases in delinquency and servicing rates in July.CRE delinquencies rose to 7.23% in July, driven by a 24-bps jump for apartment commercial mortgage-backed securities loans.
ATTOM July 2025 U.S. Foreclosure Market Report
Nationwide, one in every 3,939 housing units had a foreclosure filing in July 2025. States with the worst foreclosure rates were Nevada (one in every 2,326); Florida (one in every 2,420); Maryland (one in every 2,566); South Carolina (one in every 2,588); and Illinois (one in every 2,727).
July Commercial Chapter 11 Filings Jump From Last Year
Additionally, the number of commercial chapter 11 files in July increased by 46% compared to the 626 filings in June. The total number of commercial filings for July increased by 15% compared to the 2,601 total for last month.
The Most Splendid Housing Bubbles in America, July 2025: The Price Drops & Gains in 33 Large Expensive Metros
Twenty of the 33 largest metros are now seeing prices decline, with Florida and Texas cities leading the drops at over 5% in Tampa and Austin. The housing market is cooling rapidly as buyer demand plunges while supply surges to levels not seen since the mid-2010s.
Inventory of Homes for Sale in New York, Philadelphia, Chicago, Boston, Nashville, Atlanta, Washington DC, Columbus, Detroit, Minneapolis
In the Nashville-Davidson–Murfreesboro–Franklin metro, active listings spiked by 30% year-over-year and by 64% from July 2023, to 10,880 listings, the highest in the data from Realtor.com, which goes back to 2016.
Weekly Mortgage Refinancing Demand Shoots 23% Higher, with Riskier Loans Making a Comeback
Applications to refinance a home loan jumped 23% for the week and were 8% higher than the same week one year ago. That was the strongest week for refinancing since last April.
