According to a new report released Thursday, Connecticut had the second highest percentage of distressed home sales nationally in March.
Property analytics firm CoreLogic said 18.9 percent of Connecticut homes were distressed sales in March. That figure is down from February when 19.1 percent of home sales in the state were in the distressed category.
Nationally, of total sales in March, distressed sales accounted for 9.9 percent, down 2.7 percentage points from March 2015 and down 1.7 percentage points from Feb. 2016.
All but eight states recorded lower distressed sales in March compared with a year earlier. Maryland had the largest share of distressed sales of any state at 19.8 percent.
According to CoreLogic, while distressed sales play an important role in clearing the housing market of foreclosed properties, they sell at a discount to non-distressed sales. When the share of distressed sales is high, it can pull down the prices of non-distressed sales.
