📈 Your REO Pipeline Just Refilled
Payment shock forces mass selloffs while special servicers dust off old playbooks
Foreclosures jumped 31% in November to levels not seen since 2021, and home prices just posted their first year-over-year decline since 2019.
The culprits are obvious: 8% mortgages have buyers sitting on their hands while inventory stacks up and distressed homeowners lose their refinance options.
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Florida and California are leading the charge back into REO territory, with special servicers dusting off playbooks they thought they’d retired for good.
The speed stands out here: this is a sharp reversal that caught most people watching forbearance rates instead of payment shock.
The basis point spread between what these borrowers locked in at and what they’re facing now is creating a perfect storm of forced sales and underwater positions.
We’re about six months from seeing if this is a blip or the beginning of a real distressed cycle worth positioning for.
In this edition of the AltReports:
🏚️ Foreclosures Surge 31% to 2021 Highs
🏢 Office Rents Slashed 25% in 2025
🔨 Flipping Profits Crash to Decade Lows
📉 CRE Deal Volume Stumbles First Time
💰 Home Prices Fall for First Time Since 2019
📦 Listings Plunge to Six-Year Lows
Video of the Week: The Biggest Rental Market Lie Just Collapsed
Chart of the Week: Sales of Distressed Commercial Property Rise
Podcast of the Week: What’s Driving Demand for Alternative CRE Sectors in 2026
Foreclosures Surge 31% to Highest Level Since 2021
Lenders slapped 31% more homes into foreclosure in November, shattering the post-pandemic lull as higher rates and ballooning mortgages push owners over the edge.
That reversal slams shut the brief cooldown and has banks back on the foreclosure gas pedal in mass markets like Florida and California.
💡 Investor Takeaway: Keep an eye on auctions in Florida and California where activity is heating up
US Home Prices Slip into the Red for First Time in Years
Home prices fell year-over-year for the first time since 2019, exposing cracks in a market already buckling under high rates.
Buyers are shunning 8% mortgages, inventory is piling up, and price cuts are spreading into suburbs and hot markets alike.
💡 Investor Takeaway: Pay extra attention to properties with multiple price reductions.
2025 Office Market Takes a 25% Haircut
Office buildings are in freefall as tenants demand steep rent cuts and landlords are slashing asking rents by up to 25%.
Those cuts are kicking off a torrent of distressed debt and lender losses, forcing big REITs and banks into damage control.
💡 Investor Takeaway: Buildings with major tenant losses may become available soon.
Flipping Profits Hit a Wall as Fix-Up Costs Soar
Home flippers are bleeding cash as fix-up costs and high rates crush their returns to the lowest level in over a decade.
Flip deals plunged nearly 20% in Q3 and sellers are dumping discounted fixer-uppers to escape mounting bills.
💡 Investor Takeaway: Look for flippers trying to unload properties mid-renovation.
CRE Deal Volume Stumbles for First Time in Two Years
Commercial real estate deal volume fell in Q3 for the first time in nearly two years, revealing cracks in the market.
Banks are tightening lending, buyers are balking at sticker shock, and fresh deals are drying up.
💡 Investor Takeaway: Keep cash ready and due diligence fast so you can jump on cheap CRE deals as soon as they surface.
Listings Dry Up as Supply Hits Six-Year Low
Inventory is broken—the number of new listings plunged 8.5% in April and supply sits at its lowest point since 2018.
That squeeze is driving buyers into bidding wars, keeping prices firm and pushing mid-market deals off the public market.
💡 Investor Takeaway: Contact banks and title companies for off-market inventory before the crowd shows up.