Four cities in Connecticut ranked among the top 10 worst real estate markets in the country, according to a recent WalletHub study that compared 300 cities across two key dimensions including general real-estate market metrics, as well as on affordability and economic environment.
The study evaluated these two dimensions using 21 metrics, including vacancy rate, median home-price appreciation and average number of days on market, which were weighted and combined into one overall score.
Hartford, New Haven, Bridgeport and Waterbury were the four Connecticut cities that made up the top 10 worst real estate market, along with three cities in New Jersey; Miami Beach, Florida; Detroit, Michigan and Montgomery, Alabama.
According to the study, Bridgeport and Waterbury are among cities with the highest percentage of homes with negative equity, while Waterbury was among cities with the lowest median home-price appreciation.
Hartford had the fifth highest foreclosure rate around the country and Bridgeport came in fourth overall for highest percentage of delinquent mortgage holders.