One in every six Connecticut home sales still a foreclosure or short sale - Reid Real Estate Group

One in every six Connecticut home sales still a foreclosure or short sale

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:

CT Distress sales 2018 short sales and foreclosures

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.

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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