Ocala, Florida, led the gains as sellers’ minimum auction bids relative to property values fell 22%.

Across 64 tracked markets, exactly half posted sales rate increases.

Find Vacant Homes in Your County

Find vacant properties, filter by absentee ownership and equity, and get owner contact details — build your next outreach list with DealMachine.

Find Vacant Properties

Nationwide, completed foreclosure auctions rose 25% year over year, with loans originated since 2022 accounting for nearly half of that activity.

Banks are also accepting lower prices on repossessed homes, with REO buyers paying an average of 62.2% of estimated retail value, down from 64% a year earlier.

Here’s where auction supply is growing, sellers are adjusting, and buyers are stepping in:

🏚️ Foreclosure Auctions Jump 25%

📊 12% of Multifamily Debt Holds Half the Delinquencies

🔑 Distressed Apartment Sales Surge 63%

🏗️ Builders’ Unsold Inventory Signals Pricing Pressure

📉 Pending Home Sales Hit Lowest Level Since 2021

💸 Mortgage Resets Bring $1K Monthly Payment Jumps

Video of the Week: Banks Are Dumping Foreclosures

Chart of the Week: 78% of Maturing CRE Debt Faces Higher Costs

Podcast of the Week: Buy 3 Rentals. Pay Them Off. Financial Freedom.

Foreclosure Auction Volume Reaches Highest Level Since 2020

Completed foreclosure auctions rose 25% year over year in Q3, the seventh consecutive quarter of annual gains. FHA-insured loans (up 73%) and loans originated in 2022 or later (46% of volume) drove the increase.

Private-Label CMBS Holds Half of Multifamily Delinquencies

Private-label CMBS makes up 12% of the $635.82 billion securitized multifamily universe and 50.2% of the $11.6 billion in delinquent debt, with a 7.69% delinquency rate. Two years ago, CRE CLOs held the largest share at about 40% and private-label held 27%.

Distressed CRE Sales Rise 26% as Debt Funds Supply Capital

Distressed commercial sales reached $13.2B in the first nine months, led by a 62.8% jump in apartment deals, and account for 2.4% of total volume. CMBS distress climbed to 8.02% in September, the highest level since November 2020.

Builder Inventory Ratios Range From 0.44x to 3.09x

Century Communities (3.09x) and Meritage (2.86x) carry the most homes under construction relative to backlog, with NVR at 0.44x and D.R. Horton and Lennar at 1.47x and 1.68x. Century and Meritage both reported gross margins just above 18% in the second quarter.

Pending Home Sales Hit the Lowest Level on Record

Pending sales fell 1.9% week over week and 14.4% year over year, declining in all 50 of the most populous metros for the second week in a row. Mortgage rates of 7.4% push the median monthly payment to $2,796, the second-highest in Redfin’s records.

150,000 Homeowners Face First ARM Adjustments This Year

ICE data shows 2019 seven-year ARMs resetting this year carry a median initial rate of 3% and a median adjusted rate of 6.06%, lifting the median payment by $1,080. Another 186,000 homeowners reach their first adjustment in 2027 and 155,000 in 2028.

Video of the week

Read more

That number is not a survey estimate.

It is a count of individual parcels, address by address.

You have probably seen a bigger number in the news.

Most articles say roughly 15 million.

Both numbers are correct, and the difference between them is the whole point of this post.

One of them you can actually work. The other one you cannot.

What Counts as an Empty Property

An empty property is one where nobody currently lives.

That sounds obvious, but the definition matters because it decides which houses end up on your list.

DealMachine flags a parcel as vacant using a few signals together:

• USPS mail return flags. Mail sent to the address comes back undelivered.

• Utility status indicators. Service has been shut off or was never turned back on.

• Occupancy records. No current resident is tied to the address in available records.

One signal on its own can be wrong.

A snowbird gets mail forwarded for four months, and the house is not really available.

Stacking the signals is what makes the flag reliable.

Vacant is also not the same thing as abandoned.

A vacant house has an owner who is reachable and who still pays the taxes.

An abandoned house has usually been walked away from, and the title is often a mess.

Vacant is the better starting point for most beginners, and it is a much larger pool.

Where the Vacant Homes Are

The table below ranks the top 15 states, pulled in August 2026. Together they hold 1,321,535 properties, or 66.5% of the national total.

How to Get From 1.9 Million Down to a Callable List

Two million properties is not a list. It is a starting universe. The work is narrowing it.

Here is the order I would use:

1. Pick a geography you can service. Start with a county or a set of zip codes, not a state. State-level numbers are useful for deciding where to operate, not for pulling leads.

2. Add a second signal. An empty house owned by someone who lives out of state is a much stronger lead than an empty house alone. Layer in absentee owner data and the list shrinks fast.

3. Add equity. An owner with deep equity can accept a discounted cash offer and still walk away with money. An owner who is underwater cannot, no matter how motivated they sound.

4. Skip trace and start calling. A list you never contact is worth zero.

Combining vacancy, out-of-state ownership and equity gives you a focused list of owners to investigate in your county.

DealMachine’s property search and skip tracing tools help you find those properties and look up owner contact details. Start with one county, apply those three filters, and build your first outreach list.

Find vacant properties in your county →

That margin is getting squeezed as operating expenses rise nearly twice as fast as revenue.

Collecting the rent is getting harder too, with one in five working-age renters struggling to pay in full in 2025.

What is AI Actually Worth to Your Fund?

Most PE firms underestimate it.

They count hours saved and miss where the true value sits: faster deals, higher analyst throughput and knowledge that stays with the firm.

Capsa AI’s free ROI calculator puts a number on it in under 30 seconds. Enter your fund’s profile and see the value across:

• Deal screening efficiency

• Diligence cycle compression

• Institutional knowledge retention

• LP reporting time reclaimed

• Competitive positioning

It comes with a 5-minute business case you can adapt and take into your next partner meeting.

Try The Calculator

Rising bills and missed payments are leaving owners with less cash to cover their debt.

For buyers, that means checking how much rent survives the bills before deciding what to pay.

Here’s what’s eating into owners’ returns and what to check before calling a property a bargain:

📊 CMBS Special Servicing Hits 13-Year High

🏠 Home Sellers Outnumber Buyers by 63%

💸 Costs Eat 89% of Every Rent Dollar

🖥️ Risks Mount in Wall Street’s Data Center Bet

🏚️ Lenders Accuse Apartment Empire of Rent Theft

🔑 Rents Fall, Yet More Renters Fall Behind

Video of the Week: Real Estate Agents Are Quitting EVERYWHERE — Here’s Why

Chart of the Week: 1 in 3 Apartment Loans Faces Refinancing Shortfall

Podcast of the Week: 45% of Sellers Offer Concessions

CMBS Special Servicing Reaches Highest Level Since 2013

The rate rose to 11.49% in September, with $2.65 billion across 42 loans entering special servicing. Office accounted for 57% of new transfers, while retail, lodging and multifamily rates also climbed.

Home Sellers Outnumber Buyers by 63%

The seller-buyer gap reached its widest level in records dating to 2013, with 41 of the 50 largest metros classified as buyer’s markets. Miami, Nashville and Houston led the imbalance, giving qualified buyers more room to negotiate.

Apartment Costs Consume 89% of Every Rent Dollar

Mortgage payments, operating costs, taxes, payroll and reserves leave owners with 11 cents per rent dollar, making expense assumptions critical when assessing rental returns.

Risks Build Around Wall Street’s Data Center Pitch

Investment firms are expanding access to data centers through public and private vehicles, but power constraints, permitting delays and refinancing risks complicate the opportunity.

Lenders Allege Rent Theft and Fake Insurance at Apartment Empire

Nord Group’s 11-property portfolio, financed with nearly $400 million in debt, is unraveling amid allegations of diverted rents, false insurance records and deteriorating buildings.

Falling Rents Fail to Ease Payment Trouble

One in five working-age renters struggled to pay rent in full in 2025, up from 16.5% in 2024, with middle-income renters showing the sharpest deterioration.

Video of the week

Read more

Some mall owners are reaching the end of their loan terms with every payment made and few lenders willing to refinance.

Apartment owners face their own squeeze as cheap loans come due at higher rates and rent increases on existing tenants lose steam.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

The CMBS delinquency rate reached 8.02% in September, the highest since November 2020.

Property tax delinquency is at its highest since 2017, and bank repossessions are up 42% from a year ago.

Here’s where owners are struggling to hold on and where more properties are changing hands:

🏚️ Property Tax Delinquency Hits 9-Year High

📊 CMBS Delinquency Climbs to 8.02%

🏦 Bank Repossessions Surge 42%

🏘️ Apartment Renewal Rent Growth Weakens

🛍️ Mall Recovery Masks Refinancing Trouble

💸 Higher Rates Squeeze Apartment Owners

Video of the Week: Overpriced Homes Can’t Sell. How Bad Is Your Zip Code?

Chart of the Week: Insurance Is Taking a Bigger Bite Out of Apartment Revenue

Podcast of the Week: 13.9 MILLION Homes Are Coming

Property Tax Delinquency Hits Highest Level Since 2017

The national rate among homeowners paying taxes directly rose to 5.2% in 2026 from 4.2% in 2025, with delinquency more closely linked to HOA liens and mortgages over 90 days past due than unemployment.

CMBS Delinquency Climbs to Highest Since November 2020

The rate rose 17 basis points to 8.02% in September, driven largely by five loans, including a $1.10B Los Angeles studio-and-office portfolio.

Bank Repossessions Surge 42% as Texas Leads

Completed foreclosures reached 5,794 in August, up 42% year over year, with Texas accounting for 1,835 despite foreclosure starts nationwide rising just 7% annually.

Apartment Owners’ Renewal Rent Cushion Shrinks

Growth in renewal rents reached its weakest reading since before the pandemic, reducing the revenue support that helped owners offset falling new-lease rents.

Top-Tier Malls Mask Deeper Financial Distress

Mall values rose 13% year over year, yet $8.7B of tracked mall CMBS loans are in special servicing, with $3.4B delinquent across an overlapping group.

Apartment Cap Rates Barely Exceed Treasury Yields

Loans from the low-rate era are coming due at higher financing costs, leaving affected owners weighing fresh equity, expensive extensions, or a sale.

Video of the week

Read more

The $209 million Crossroads III loan was extended once, moved to special servicing in August, and received the notice on September 1.

It is part of a wider shift: office CMBS delinquency has reached 13.2%, while 51% of office loans sent to special servicing over the past year were still current when they arrived.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

Now the 10-year Treasury has hit 5.3%, its highest level since 2002, putting even more pressure on loans that need to refinance.

Pricing is resetting on the sales side too, where half of Los Angeles office deals closed at a loss and larger commercial assets sit 19.4% below their 2022 peak.

Here’s where lenders are moving loans early and where buyers are closing below prior prices:

🏢 Half of LA Office Sales Lose Value

📈 10-Year Treasury Hits 5.3%

🏘️ Multifamily Delinquencies Hit 20-Year High

🏙️ Small CRE Deals Near Record Prices

🏷️ Housing Price Cuts Hit 4-Year High

🚨 Office Loans Flag Trouble Before Default

Video of the Week: Bank Failures SKYROCKET | Banking Reset BEGINS

Chart of the Week: Cities with the Biggest Rent Decreases

Podcast of the Week: October Is The Best Time To NEGOTIATE In These 16 Markets

Half of LA Office Sales Close at a Loss

Half of Los Angeles office sales between Q2 2025 and Q2 2026 traded below the previous owner’s price, with losses rising to 79.2% among buildings larger than 100,000 square feet. 2nd Oct

Treasury Yields Put More Pressure on CRE

The 10-year Treasury hit 5.3%, its highest level since 2002, raising refinancing costs and increasing pressure on owners who now face tougher choices between adding equity, refinancing, or selling. 2nd Oct

Multifamily Delinquencies Hit a 20-Year High

Freddie Mac’s multifamily serious delinquency rate rose to 0.64% in August, its highest level in more than two decades and above its comparable Great Recession peak. 2nd Oct

Smaller CRE Deals Outperform Larger Assets

Smaller commercial properties sit just 0.5% below record pricing while the index tracking larger assets remains 19.4% below its 2022 peak, showing a widening split by deal size. 2nd Oct

Housing Price Cuts Hit a Four-Year High

Mortgage rates above 7% pushed the share of listings with price reductions to 20.8% in September as pending sales fell 4.1% and inventory climbed above 1.16 million homes. 2nd Oct

Office Loans Move to Servicing Before Default

Office CMBS delinquency reached 13.2% while 51% of loans transferred to special servicing over the past year were still current, showing lenders are acting months before missed payments or maturity failures.

Video of the week

Read more

More than half of its outstanding balance is now delinquent.

Across the wider CRE CLO market, distress has jumped to 28% in a single month.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

$757 billion in multifamily debt comes due by 2028.

Bank repossessions are already up 42% year over year.

Here’s where that pressure is starting to turn into inventory, forced sales, and discounts:

🏢 CRE CLO Distress Jumps to 28%

📉 Foreclosures Rise 13% Year Over Year

💰 Multifamily Debt Wall Hits $1.8T

🏠 Half of Homeowners Miss a Payment

📈 Fed Hike Reignites Refinancing Fears

🔨 Builder Confidence Hits 3-Year Low

Video of the Week: Home Sellers Are Finally Giving Up: Concessions Are Everywhere

Chart of the Week: Office Special Servicing Hits a New High

Podcast of the Week: One Change Added $3 Million To Their Wholesale Business

CRE CLO Distress Jumps as 2021 Loans Sour

Distress in CRE CLOs reached 28% in August, while one 2021 loan pool is now 53% delinquent, showing how aggressively financed apartment deals are starting to break as floating-rate debt and weak property performance collide.

Foreclosure Activity Rises Across the U.S.

Foreclosure filings rose 13% year over year in August and REOs jumped 42%, with South Carolina, Nevada, Florida, Texas, and Maryland posting the highest foreclosure rates.

Multifamily Faces a $757B Maturity Wall

About $757 billion in multifamily debt is due between 2026 and 2028, while CMBS multifamily delinquencies have climbed to 7.1% and property values remain well below their 2022 peak.

Half of Mortgage Holders Struggle to Pay in Full

Half of mortgage holders say they were unable to make their full payment at least once in the past year, as higher property taxes, insurance costs, and escrow shortages push monthly housing costs higher.

Higher Rates Add Pressure to CRE Refinancing

The latest Fed rate hike is raising the cost of refinancing just as hundreds of billions in commercial property loans come due, increasing pressure on borrowers whose original loans were written at much lower rates.

Builder Confidence Falls to a 3-Year Low

Builder confidence dropped to its lowest level in more than three years as mortgage rates, labor shortages, and rising costs weigh on demand, while 38% of builders are now cutting prices and 66% are using sales incentives.

Video of the week

Read more

That imbalance is hitting hardest in DFW, where older apartment properties are trading at discounts up to 60% as owners buckle under high rates, rising utilities, taxes and payroll costs.

Nationally, foreclosures are climbing too: completed REOs jumped 42% to 5,794 in August, and listings just hit a six year high.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

Builders are feeling the same squeeze, with 38% cutting prices in September to keep deals moving.

Office owners are caught in a similar bind, with operating expenses growing more than double the pace of revenue over the past five years.

Distress like this, spread across housing, apartments and offices, is where today’s discounted entry points are coming from.

🏢 DFW Apartment Prices Drop as Much as 60%

🏚️ U.S. REOs Jump 42% Year Over Year

🌊 Underwater Mortgages Rise Across 33 States

🏠 Sellers Outnumber Buyers by Record 58%

🏙️ Office Expenses Outpace Revenue Growth

🏗️ 38% of Homebuilders Cut Prices

Video of the Week: Mortgage Rates Are About to Crack the Housing Market

Chart of the Week: CMBS Special Servicing Hits Highest Since 2013

Podcast of the Week: Why Banks Are Desperate To Sell?

DFW Apartment Distress Creates Deep Discounts

Older multifamily properties across Dallas-Fort Worth are attracting buyers as prices on some vintage assets fall as much as 60%, while high rates, rising operating costs and lender pressure push more owners toward distressed sales or foreclosure.

REOs Jump 42% Year Over Year

Foreclosure activity continues to rise, with 40,277 properties receiving filings in August, foreclosure starts up 7% annually and completed REOs climbing 42% to 5,794, led by Texas, California and North Carolina.

Seriously Underwater Mortgages Rise Across the U.S.

Seriously underwater homes accounted for 3.2% of mortgaged properties in Q2, up from 2.7% a year earlier, with rates increasing year over year in 33 states and D.C. and some states showing much heavier concentrations of negative equity.

Sellers Outnumber Buyers by a Record 58%

The U.S. housing market has its widest seller surplus on record, with listings at a six-year high and Sun Belt metros such as Nashville, Miami and Houston showing some of the largest gaps between sellers and buyers.

Office Expenses Keep Outrunning Revenue

Office operating expenses grew 14.3% from 2021 through 2025 while revenues increased 6.7%, leaving NOI up just 1% as insurance, utilities, repairs and payroll continue to squeeze property-level margins.

38% of Homebuilders Cut Prices in September

Builder confidence fell to its lowest level since September 2025 as higher mortgage rates, labor shortages and rising material costs weakened demand, with 38% of builders cutting prices and 66% using sales incentives.

Video of the week

Read more

A record 42% of active listings now have price cuts, with 1.57 million homes currently on the market nationwide.

That extra choice is arriving as existing-home sales fall 2%, mortgage rate locks drop 9%, and more borrowers shift toward adjustable-rate loans as 30-year rates reach 6.85%.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

The pressure is even more concentrated in CRE, where CLO distress jumped from 19% to 28% in one month and just five deals now account for 38% of the entire CRE CLO special-servicing balance.

In New York alone, $5.9 billion of commercial mortgages come due over the next 12 months, while another $2.5 billion has already passed its stated maturity date and remains open on the record.

Here’s where sellers are giving ground, financing stress is concentrating, and distressed opportunities are becoming easier to identify:

🏢 Five Deals Drive 38% of CLO Distress

🏙️ NYC Faces $5.9B Maturity Wall

🏷️ 42% of Listings Get Price Cuts

🏠 Housing Supply Hits Decade-Plus High

📉 Mortgage Rate Locks Fall 9%

⚠️ ARM Share Climbs to 8.5%

Video of the Week: The Housing Market Is Finally CRACKING in These Cities

Chart of the Week: CRE CLO Distress Accelerates in August

Podcast of the Week: Cash Flow vs Appreciation: Which Builds More Wealth?

Five Deals Drive 38% of CLO Distress

Five CRE CLO deals now account for 38% of the market’s special-servicing balance, with much of the stress concentrated in 2021–2022 Sun Belt multifamily bridge loans across Texas, Florida, and Georgia.

NYC Faces a $5.9B Commercial Loan Maturity Wall

About $5.9B of NYC commercial mortgages come due over the next 12 months, while another $2.5B has already passed its stated maturity date and remains open, creating a large pool of loans facing refinancing or workout pressure.

42% of U.S. Listings Now Have Price Cuts

A record 42% of active listings have been marked down, with price reductions exceeding 50% in markets including Colorado Springs, Austin, San Antonio, and Denver as sellers compete for more selective buyers.

Housing Supply Hits a Decade-Plus High

Existing-home sales fell 2% in August while inventory climbed to 1.62M homes, equal to 4.9 months of supply and the highest level in more than a decade, giving buyers more choice and negotiating leverage.

Mortgage Rate Locks Fall 9% in August

Total mortgage rate-lock volume fell 9% month over month as purchase locks declined 10% and rate-and-term refinancing dropped 47% year over year, showing how elevated borrowing costs continue to suppress financing demand.

More Buyers Turn to Adjustable-Rate Mortgages

Mortgage applications fell as 30-year fixed rates reached 6.85%, while the ARM share climbed to 8.5%, its highest level since June, as borrowers sought lower initial payments through riskier loan structures.

Video of the week

Read more

That portfolio is landing as $10.7 billion of still-performing office loans with sub-breakeven DSCRs reach hard maturity by 2029.

On the residential side, first-half foreclosure activity jumped 21% from last year.

Some of that distress is already visible in Midwest cities, where zombie foreclosure rates in Youngstown, Cedar Rapids, Fort Wayne, and Akron all run more than triple the 3.3% national average.

At the same time, fresh listings have hit a four-year high as pending sales lose momentum and price cuts rise with mortgage rates near 6.7%.

Here’s where forced sales, refinancing pressure, and weaker demand overlap:

🏚️ Bankrupt Empire Puts 50 Properties Up for Sale

🏢 $10.7B in Office Loans Faces Hard Maturities

👻 Zombie Foreclosures Cluster in Midwest Cities

📈 Foreclosure Activity Jumps 21% Nationwide

🏠 Fresh Listings Hit a Four-Year High

📉 Higher Mortgage Rates Stall Buyer Demand

Video of the Week: The Next 2008 Is Already Here

Chart of the Week: CMBS Delinquency Rates by Major Property Type

Podcast of the Week: I Built a $65,000/Year Rental Portfolio All From My Computer

Bankrupt Real Estate Empire Puts 50 Properties Up for Sale

A bankrupt landlord is preparing to sell nearly 50 properties across 22 states, including 5.8M SF of commercial space and almost 3,000 residential units, creating a large pool of distressed assets across multiple property types.

$10.7B in Weak Office Loans Faces Hard Maturities

About $10.7B of performing office loans with DSCRs below 1.00x reach hard maturity by 2029, leaving borrowers with insufficient property cash flow facing a major refinancing and repayment test.

Zombie Foreclosures Cluster in Midwest Cities

Vacant homes already in foreclosure are heavily concentrated in markets like Youngstown, Cedar Rapids, Fort Wayne, and Akron, where zombie rates run above 10% and can create deeply discounted opportunities for experienced investors.

Foreclosure Activity Jumps 21% Nationwide

More than 227,500 properties entered some stage of foreclosure in the first half of 2026, up 21% year over year, with Idaho, Colorado, Georgia, North Carolina, and Mississippi posting some of the fastest increases.

Fresh Listings Hit a Four-Year High

New listings climbed to their highest level since August 2022 while pending sales slipped to their lowest level since February, giving buyers more inventory and negotiating leverage as sellers compete for weaker demand.

Higher Mortgage Rates Stall Buyer Demand

Pending sales turned negative year over year in August after eight months of growth, while price cuts rose and asking prices declined as mortgage rates near 6.7% pushed more buyers to the sidelines.

Video of the week

Read more

More than $5 billion of well-occupied office loans are already failing to cover their debt payments, and Wells Fargo just moved to foreclose on a $1.3 billion loan backed by a 75%-occupied portfolio.

9.5% Fixed Rate│6-Month Term

As markets continue reacting to shifting Fed policy, investors are looking for a place to park capital without sacrificing yield or locking it away for years.

The Groundfloor Bond Note offers accredited investors a fixed 9.5% annualized return over a six-month term, with potential for a 0.5% bonus if called early.

Over $5M invested in one week.

Previous Bond Note offerings reached full subscription within days.

Now over 70% filled and won’t stay open for long.

Lock In 9.5%

Foreclosure filings rose 10% from last year, REOs jumped 23%, and 14% of pending home sales fell apart as buyers gained more power.

Hotel sales climbed 28% as debt payments and renovation costs push more owners to sell rather than reinvest.

Here’s where cash-flow stress is turning into foreclosures, failed contracts, and forced sales:

🏢 Occupied Offices Miss Debt Coverage

⚖️ Wells Fargo Targets $1.3B Portfolio

🏚️ REOs Surge 23% Year Over Year

🚪 Home Cancellations Hit 3-Year High

🏨 Hotel Sales Jump 28% in First Half

Video of the Week: This Couple Made $650K in 90 Days Finding Owners to the Messiest Real Estate Deals

Chart of the Week: The Maturity Wall Is Getting Taller

Podcast of the Week: Home Builders Are Bleeding

Well-Occupied Offices Still Miss Debt Coverage

More than $5 billion of office loans with occupancy above 80% have DSCRs below 1.00x, exposing cash-flow problems tied to concessions, floating-rate debt and high operating costs rather than empty buildings alone.

Wells Fargo Moves to Foreclose on $1.3B Portfolio

A two-year extension failed to save Workspace Property Trust’s 143-property portfolio, with Wells Fargo now pursuing foreclosure after occupancy fell from nearly 89% at origination to about 75%.

REOs Rise 23% as Foreclosures Spread

Foreclosure activity continued climbing in July, with REOs up 23% from last year and Nevada, South Carolina and Florida posting the highest filing rates, even as national activity remains below pre-pandemic levels.

Home-Purchase Cancellations Hit a 3-Year High

Buyers are walking away most aggressively in supply-heavy markets such as Atlanta, Houston, San Antonio and Las Vegas, pushing the national cancellation rate to its highest level since 2023.

Capital Needs Push More Hotels to Market

Hotel transactions rose 28% in the first half as some cash-strapped owners chose to sell rather than fund costly renovations, while improving buyer demand is giving those properties an increasingly liquid exit.

Video of the week

Read more

In California hotels, lender-linked deals already account for 28% of sales as 30% of U.S. hotel loans come due this year.

9.5% Fixed Rate│6-Month Term

As markets continue reacting to shifting Fed policy, investors are looking for a place to park capital without sacrificing yield or locking it away for years.

The Groundfloor Bond Note offers accredited investors a fixed 9.5% annualized return over a six-month term, with potential for a 0.5% bonus if called early.

Over $5M invested in one week.

Previous Bond Note offerings reached full subscription within days.

Now over 70% filled and won’t stay open for long.

Learn More

One NYC office REIT now says there is “substantial doubt” about its ability to stay in business over the next 12 months.

The pressure is reaching housing too, with pending sales falling to a six-month low and HOA foreclosures jumping nearly 40% in two years.

Here’s where defaults, maturities, and weaker demand are turning into forced sales first:

🏢 Office Delinquencies Hit Record 8.89%

🏘️ Multifamily Distress Doubles to 13%

🏨 California Hotel Distress Sales Hit 28%

🏙️ Manhattan Office Tower Trades Underwater

🏡 Pending Home Sales Slide to Six-Month Low

📋 HOA Foreclosures Jump 40% in Two Years

Video of the Week: 84,000 Homeowners Can’t Sell...And It’s Getting WORSE

Chart of the Week: Mall CMBS: Pre-2017 Loans Drive the Distress

Podcast of the Week: Is the Housing Market Crashing or Just Slowing Down?

Office CMBS Delinquencies Surpass 2012’s Record High

The office CMBS delinquency rate climbed to a record 8.89% in July, driven by new office defaults and a large mixed-use portfolio loan, pushing Fitch’s overall CMBS delinquency rate to 3.49%.

Multifamily Distress Doubles Across CMBS Markets

Multifamily’s balance-weighted distress rate rose from 6% to 13% in five months, with Minneapolis, Denver, and Oklahoma City posting the highest metro distress rates as Midwest markets lead the nation.

Maturing Debt Drives Wave of Distressed Hotel Sales

Lender-linked transactions account for 28% of California hotel sales in the first half of 2026, with 30% of U.S. hotel loans coming due this year as owners face refinancing gaps from the low-rate era.

NYC Office Investor Faces Going-Concern Warning

American Strategic Investment Co. carries “substantial doubt” about its ability to continue as a going concern, with its largest asset valued below the outstanding mortgage balance ahead of a March maturity.

Pending Home Sales Fall to Six-Month Low

Contract signings declined in every region during July as mortgage rates climbed to 6.66%, widening the gap between a growing workforce and shrinking home purchase activity.

HOA Foreclosures Climb Nearly 40% in Two Years

Homeowners associations filed 284,933 liens in 2025, roughly one every 90 seconds, as rising insurance costs and underfunded reserves push more communities toward aggressive collection tactics.

Video of the week

Read more

Miami sits at the extreme end, with 154% more sellers than buyers and homes trading 4.7% below asking, while Florida and Texas hold the deepest discounts.

That imbalance is showing up in loan performance too, as FHA serious delinquencies jumped 227 basis points from a year ago and the broader serious delinquency rate rose for a fourth straight quarter.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

The same pressure is building at the commercial level, where CMBS distress climbed to 7.86% in July and $65 billion in loans mature by year-end, leaving some owners to choose between injecting fresh equity and handing back the keys.

Flippers are catching the squeeze from both sides, taking longer to sell across Texas and the Southeast just as Texas homeowners absorb insurance premiums that climbed 30% in five years.

Here’s where buyer leverage is growing fastest and where owners are running out of room:

📉 38 Major Markets Sell Below Asking

⚠️ FHA Serious Delinquencies Continue to Climb

💸 $65B CMBS Maturity Wall Hits

🔨 Fix-and-Flip Market Weakens

👥 U.S. Homebuyers Hit Record Low

🌪️ Texas Insurance Premiums Jump 30%

Video of the Week: Who Will Buy All The Baby Boomers’ Houses?

Chart of the Week: Credit card delinquencies Hit a 14-year High

Podcast of the Week: How He Became The #1 Multifamily Developer In LA

Homes Sell Below Asking in 38 Major Markets

Miami and West Palm Beach post the nation’s steepest discounts, with homes trading roughly 4.6% below asking price.

Rising insurance costs, property taxes, and new construction across Florida and Texas are giving buyers more room to negotiate.

FHA Serious Delinquencies Jump 227 Basis Points

FHA serious delinquencies climbed 227 basis points from a year ago, the sharpest increase among major loan types.

Foreclosure inventory rose to 0.67% even as the overall delinquency rate ticked down slightly for the quarter.

CMBS Distress Climbs as $65B Maturity Wall Hits

CMBS distress rose to 7.86% in July, while commercial property prices climbed 5.2% over the past year.

Owners with $65 billion in loans maturing by year-end face a choice between injecting fresh equity, refinancing at higher rates, or handing the keys back to lenders.

Fix-and-Flip Market Weakens in Texas and Southeast

The fix-and-flip index fell for a second straight quarter as higher mortgage rates stretch flippers’ selling timelines.

Texas and the Southeast show the clearest strain, with 59% of flippers reporting longer days on market.

Homebuyer Demand Falls to a Record Low

The number of active U.S. homebuyers fell to roughly 967,000 in July, the lowest count on record, while sellers outnumbered them by 51%.

Miami, Nashville, and three Texas metros show the widest gaps between buyers and sellers in the country.

Texas Insurance Costs Outpace Income Growth

Texas homeowners insurance premiums climbed 30% over five years, ten times faster than incomes grew over the same period.

Roughly 7 million Texas households are priced out of the median-priced home in their county, while insurance now consumes nearly 4.7% of household income for the median homeowner.

Video of the week

Read more

Texas now has more than $1.15 billion of CRE debt flagged for foreclosure, while a $1.1 billion Hollywood studio loan moved to special servicing even though the underlying properties are 95.5% leased.

Residential distress is further along.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

Lender repossessions rose 33% in the first half, with Colorado REOs up 177%, while New York City has already placed more than 600 buildings spanning roughly 2,000 units under vacate orders this year.

Across debt, foreclosures and aging housing stock, years of extensions are giving way to special servicing, auctions and lender-owned inventory.

📉 CMBS Delinquencies Jump to 7.86%

🏢 Texas CRE Foreclosures Top $1.15B

🎬 $1.1B Hollywood Loan Hits Special Servicing

🔑 Lender Repossessions Rise 33% Nationwide

🔥 NYC Vacate Orders Reach Record Pace

Video of the Week: Banks Are Now Dumping Buildings At 80 Cents On The Dollar!

Chart of the Week: CMBS Distress Hits a 2026 High

Podcast of the Week: A Deep Dive into Real Estate’s Best Performing Sector

CMBS Delinquencies Jump as Refinancing Fails

CMBS delinquencies rose 51 basis points to 7.86% in July, with 66% of newly delinquent balances tied to matured loans that failed to refinance and five large loans alone accounting for $2.6 billion of new distress.

Texas CRE Foreclosures Push Past $1.15B

More than $1.15 billion of Texas CRE debt was flagged for August foreclosure auctions, with struggling multifamily syndicators accounting for nearly $600 million after high-priced acquisitions financed with floating-rate debt came under pressure.

$1.1B Hollywood Loan Hits Special Servicing

A $1.1 billion CMBS loan backed by Hudson Pacific and Blackstone studio properties moved to special servicing ahead of maturity despite the portfolio remaining 95.5% leased, highlighting how refinancing stress can hit even well-occupied assets.

Lender Repossessions Rise 33% Nationwide

Nearly 28,000 homes were repossessed in the first half of 2026, up 33% from a year earlier, with Colorado REOs jumping 177% and Texas, California, and Florida recording the largest volumes of lender-owned inventory.

NYC Vacate Orders Reach Record Pace

More than 600 New York City buildings covering roughly 2,000 units have already received vacate orders this year, while nearly half of all orders issued since 2012 remain unresolved as aging and rent-stabilized properties struggle with fires, violations, and deferred repairs.

Video of the week

Read more

Completed auctions rose 23% year over year in Q2, while scheduled volume reached its highest level in more than six years.

FHA-backed auctions led the increase, climbing 47%, and loans originated since 2022 accounted for 45% of completed volume.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

Foreclosure starts are also up 18% nationwide.

Here’s the part that matters: new FHA defaults fell 15%, which means existing distress is finally reaching the auction block, not a fresh wave of missed payments.

With mortgage rates at an 11-month high and applications down 6.4%, investors are seeing more distressed supply enter a market with fewer financed buyers and tougher exits.

🔨 Foreclosure Auctions Hit 6-Year High

📈 Foreclosure Starts Climb 18% Nationwide

📉 New FHA Defaults Drop 15% Year-Over-Year

🏢 CMBS Delinquencies Stay Stubbornly High

🔻 Mortgage Applications Plunge 6.4%

Video of the Week: Corporate Landlords Are Dumping Houses at MAJOR Discounts

Chart of the Week: America Has 4 Types Rental Markets

Podcast of the Week: 42 Years of Multifamily Real Estate Secrets in 1 Podcast!

Foreclosure Auctions Rise in Q2 2026, FHA Loans Driving Gains

Completed foreclosure auctions rose 23% year over year in Q2, with FHA-backed loans and 2022+ vintages driving the largest share of the increase, and scheduled volume points to more supply ahead.

Foreclosure Starts Climb in the First Half of 2026

Foreclosure filings hit 227,548 properties nationwide in H1 2026, up 21% year over year, with Idaho, Colorado, and Georgia posting the sharpest state-level increases.

FHA Loans Driving Annual Decline in New Default Activity

New FHA defaults fell 15% year over year in June, the largest annual decline in over four years, signaling that current foreclosure supply is existing distress moving through the pipeline rather than fresh missed payments.

CRE Loan Delinquencies Decline in Q2, CMBS Remains Elevated

Commercial mortgage delinquencies improved broadly in Q2, but CMBS loans stayed elevated at 4.82%, with office and lodging properties continuing to lag the recovery.

Mortgage Applications Plunge as Surging Interest Rates Deter Buyers

Mortgage application volume dropped 6.4% for the week ending July 24 as 30-year rates hit an 11-month high, squeezing both purchase and refinance activity.

Video of the week

Read more

Foreclosure filings rose 21% in the first half of the year, while short sales jumped 16% in the first quarter as more underwater owners looked for a way out.

Pending home sales fell 5.4% in June, and major builders are cutting prices to their lowest level in nearly a decade to move inventory.

Miss This Whole Foods-Anchored Deal?

Did you catch this week’s deal breakdown?

The project’s developer just broke ground on a Whole Foods-anchored district backed by over $35 million in private equity.

The site sits at a major interstate interchange in one of the fastest-growing regions in the country.

We covered the five reasons this project stood out, including a major corporate headquarters relocation and three decades of local development history behind the sponsor.

Read the full breakdown here

In commercial real estate, years of extensions are giving way to paydowns, note sales, foreclosures and fresh equity.

CLO managers are also facing new questions: did they resolve troubled loans, or just move them off the books?

Here’s where homeowners, builders and lenders are being forced to accept today’s price.

🏠 Foreclosures Jump 21% in Six Months

🚨 Short Sales Surge 16% in Just One Quarter

📉 Pending Home Sales Sink 5.4% in June

🏗️ Builders Slash Prices to Decade Low

🏢 CRE Loans Hit Make-or-Break Point

🔍 CLO Managers Face New Debt Scrutiny

Video of the Week: Is Washington State Facing A Housing Crash As Inventory Explodes?

Chart of the Week: Delinquent Multifamily Balances Hit $9.78 billion

Podcast of the Week: Next Big Downdraft For Housing Market To Start Soon

Foreclosures Jump 21%, but Timelines Tell the Real Story

Filings hit their highest first-half total since 2019, and Florida, South Carolina, and Indiana lead the nation. Faster processing points mostly to a market normalizing after 2021’s freeze, with rising strain among a smaller share of homeowners.

CRE Borrowers Run Out of Room to Wait

After years of extensions, commercial lenders are starting to ask a harder question: can this property refinance today, or does it need a paydown, new equity, or the exit ramp? The answer is splitting winners from losers fast.

Underwater Owners Are Choosing the Exit Before It’s Made for Them

Short-sale transactions accelerated 16% in the first quarter, concentrated in post-2020 boomtowns like Lakeland, FL. Stagnant prices and rising insurance costs are eating into what little equity these owners have left.

Builders Are Discounting at the Steepest Pace in Nearly a Decade

Over a third of builders cut prices in June and most are throwing in incentives, dragging Lennar’s average sale price down to roughly $371,000. For investors, that’s the widest discount window in years, not a decade-low price.

Buyers Are Sitting Out, and Pending Sales Just Proved It

NAR’s pending sales index fell 5.4% in June, dropping in every region as high mortgage rates and record prices push buyers back to the sidelines. The Midwest took the hardest hit.

CRE CLO Managers Are Playing a Different Game Than Everyone Else

While CMBS servicers face pressure to resolve troubled loans, CRE CLO managers have been quietly buying bad debt off their own securitizations and reworking it with little outside visibility.

Video of the week

Read more

Read more

Read more

Legal inquiries hit their highest level since 2020, pointing to more filings over the next two quarters.

But the growing distress is creating negotiation before forced sales.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

Pandemic-era buyers are turning to short sales as lost equity traps them in weakening markets.

Bankrupt retailers are rejecting leases, while lenders restructured a $1.8B office loan after two defaults.

Here’s where stress is becoming foreclosure inventory, discounted sales, lower rents, and reworked debt:

🏚️ Foreclosure Filings Jump 21%

⚖️ Foreclosure Inquiries Hit 2020 High

📉 Short Sales Rise as Equity Shrinks

🏬 Retail Bankruptcies Force Lease Talks

🏢 $1.8B Office Loan Avoids Foreclosure

Video of the Week: Midwest Value, Growth & Distress in 2026

Chart of the Week: CMBS loans in special servicing increased in June to $66.76 billion

Podcast of the Week: The Housing Market Just Took a Strange Turn

Foreclosure Filings Rise 21% in First Half

U.S. foreclosure starts climbed 18% and bank repossessions rose 33%, while Idaho, Colorado, and Georgia recorded some of the sharpest annual increases.

Foreclosure Inquiries Hit Highest Level Since 2020

Legal inquiries have risen for three consecutive quarters, providing an early signal that historically leads actual foreclosure filings by one to two quarters.

Short Sales Rise as Pandemic Buyers Lose Equity

Short-sale transactions increased 16% in early 2026 as weakening prices trapped peak-market buyers, with Lakeland, Colorado Springs, and Pueblo emerging as hotspots.

Retail Bankruptcies Push Leases Into Negotiation

Corporate bankruptcies rose nearly 12%, allowing struggling retailers and restaurants to reject leases, demand lower rents, and force landlords to reprice weak locations.

$1.8B Office Loan Pulled Back From the Brink

Columbia Property Trust restructured debt on a seven-building portfolio after two defaults, canceling foreclosures and extending the loan to 2028.

Video of the week

Read more

That opportunity is widening as new home inventory reaches levels unseen since the aftermath of the 2008 financial crisis, with builders cutting prices to move unsold homes.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

At the same time, insurance premiums have doubled in Colorado since 2020, crushing cash flow as foreclosures jump 51%.

The pressure has reached commercial real estate too, where New York’s largest owners are selling minority stakes and teaming up as traditional equity dries up.

More supply is hitting the market while the cost of holding it keeps climbing.

Here’s where excess supply, rising expenses, and scarce capital are creating the next wave of discounted deals:

🏚️ Bank-Owned Homes Sell 27% Below Value

🏗️ New Home Inventory Hits 2008 Levels

🏙️ NYC Landlords Sell Stakes to Survive

🚪 Sellers Outnumber Buyers at Record Pace

📊 Colorado Insurance Premiums Double

Video of the Week: “Crash Pricing” Setting In As Distressed Home Sellers Capitulate

Chart of the Week: States Most Delinquent on Debt Payments

Podcast of the Week: Housing Distress Is About To Go National

REO Discounts Widen as Foreclosures Rise

Bank-owned homes are selling 27.2% below estimated value, and national foreclosures just hit their highest level in nearly seven years, per Realtor.com and MBA data. The steepest concentrations are showing up in Lake Charles, Tuscaloosa, Dayton, Davenport, and Montgomery.

Builder Inventory Creates Negotiating Power

Builders are blinking first. New-construction inventory has climbed to levels last seen in the aftermath of the 2008 crash, and 35% of builders cut prices in June while 62% layered on incentives to move unsold homes.

NYC Developers Trade Ownership for Liquidity

New York’s biggest owners are giving up full control to keep deals moving. With institutional equity scarce, players like SL Green and RXR are selling minority stakes and forming joint ventures to recapitalize major projects instead of funding them solo.

Housing Supply Builds Against Weak Demand

Home sellers now outnumber buyers by the widest margin Redfin has recorded since it started tracking the metric in 2013. Existing single-family inventory sits at decade highs, condo inventory at a twelve-year high, and rents are softening as affordability stays tight. One analyst tracking ATTOM data flagged 2025’s foreclosure rate as a six-year high and expects further pressure into Q4, a view worth watching rather than banking on.

Insurance Costs Push Colorado Into Distress

Colorado homeowners insurance has more than doubled since 2020, and foreclosures in the state climbed 51% year over year alongside it. Rising taxes and insurance premiums are emerging as the biggest drag on landlord cash flow nationwide.

Video of the week

Read more

The refinancing wall is adding more pressure, with $875 billion in commercial and multifamily debt maturing this year and another $652 billion due in 2027.

Passive Cash-Flowing Properties

Buy shares of investment properties, earn rental income & appreciation for anywhere from $100 to $20k — let Arrived take care of the rest.

Browse Properties

Foreclosure pressure is rising too, especially in markets where affordability is already stretched by insurance, taxes, unemployment, and high monthly payments.

Underwater mortgages are also creeping higher across most states, giving investors a clearer map of which owners have fewer options if prices soften.

Here’s where residential defaults, CMBS stress, and refinancing pressure are starting to create motivated sellers and distressed pricing:

🏚️ Foreclosures Surge in Key Markets

📊 CMBS Distress Jumps to 11.86%

⏳ $1.5T CRE Debt Wall Hits

🏦 CMBS Maturity Defaults Keep Rising

🧭 Underwater Mortgages Creep Higher

Video of the Week: The BIGGEST Housing Market LIE BEING TOLD RIGHT NOW

Chart of the Week: Home Prices Are Falling Fastest in These Cities

Podcast of the Week: Where Investors Are Buying Cash Flow Real Estate in 2026

Mortgage Defaults Surge in Key Markets

Foreclosure pressure is rising fastest in states like Florida, South Carolina, Maryland, Nevada, and Indiana as insurance, taxes, unemployment, and high monthly payments push weaker owners closer to forced sales.

CMBS Distress Jumps to 11.86%

Commercial real estate stress is moving deeper into workouts, with CRED iQ’s CMBS distress rate rising 78 basis points in May as special servicing continues to run ahead of delinquency.

$1.5T CRE Debt Wall Forces Action

A massive refinancing cycle is turning into a deal catalyst, with $875B in commercial and multifamily debt maturing in 2026 and another $652B due in 2027 as borrowers face much higher refinancing costs.

CMBS Maturity Defaults Keep Building

Headline CMBS delinquency stayed flat at 7.55%, but the effective rate reached 9.17% when performing matured balloons are included, showing that refinancing friction remains the real pressure point.

Underwater Mortgages Creep Higher

Seriously underwater mortgages rose to 3.2% of mortgaged homes in Q1, with Louisiana, Kentucky, Mississippi, Oklahoma, and Arkansas showing where homeowners have the fewest exits if prices soften.

Video of the week

Read more