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16% of all homes sales in Connecticut are short sales or REO sales (bank-owned foreclosure). Despite improving market conditions for Connecticut sellers over the last several years, plenty of distress properties still remain in the market:
While buyer demand continues to rise and inventory is low, prices have only slightly improved over the last several years. Home value recovery has been particularly slow in Connecticut, leaving many homeowners still owing more than their homes could sell for, leading to the continued high rate of foreclosures and short sales in Connecticut.