Rate of distressed homes for sale in Hamden CT rises in 2018! - Reid Real Estate Group

Rate of distressed homes for sale in Hamden CT rises in 2018!

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Hamden, CT 2018 short sale and foreclosure report: One in every seven new listings this year in Hamden is a short sale or REO sale (bank-owned foreclosure). Despite improving market conditions for Connecticut as a whole, distress inventory remains a staple in the Hamden market.

With the rate of newly listed foreclosed homes (REO) dropping a tad from 9% to 7% in 2018, the rate of new short sale listings jumped from 4% to 7% in 2018 - for a total of 14% of all new listings:

2018 Hamden New Listings SS & REO

While buyer demand stays strong, prices have only slightly improved over the last five years in Hamden. Many homeowners still struggle with owing more on their mortgages than their homes could sell for, leading to the continued high rate of foreclosures and short sales.

Minna Reid

Minna Reid is The 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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