Distressed home sales in Connecticut were second highest in the nation in February, according to a new national report.
Property analytics firm CoreLogic said 19.1 percent of home sales in Connecticut could be classified as distressed. That put the state second only behind Maryland, which saw 19.9 percent of its home sales categorized as distressed.
Distressed sales, which include real estate owned and short sales, accounted for 11.1 percent of total home sales nationally in Feb. 2016, down 2.9 percentage points from Feb. 2015 and down 0.4 percentage points from Jan. 2016.
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.
