New Haven County short sales, REO's still strong - Reid Real Estate Group

New Haven County still burdened with short sales and foreclosures

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New Haven County, CT 2017: One in every five home sales in New Haven County remains a short sale or REO sale (bank-owned foreclosure). Despite improving market conditions for New Haven County homeowners, distress inventory remains a staple in the market:

reoand ss chart

While buyer demand stays strong, prices have only slightly improved over the last five years. Recovery in New Haven County has been particularly slow, leaving many of these homeowners owing more than their homes are worth, and without many options if they need to sell, leading to the continued high rate of foreclosures and short sales in New Haven County, CT.

 

New Haven County includes Ansonia, Beacon Falls, Bethany, Branford, Cheshire, Derby, East Haven, Guilford, Hamden, Madison, Meriden, Middlebury, Milford, Naugatuck, New Haven, North Branford, North Haven, Orange, Oxford, Prospect, Seymour, Southbury, Wallingford, Waterbury, West Haven, Wolcott and Woodbridge.

Minna Reid

Minna Reid is Broker/Owner of Reid Real Estate Group. Reid Real Estate Group is a full service Connecticut residential real estate brokerage, specializing in helping homeowners with legal and financial challenges including short sales, probate sales and tax lien complications.

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