Distressed sales, including real estate-owned properties (REOs) and short sales, accounted for 9.4 percent of national total home sales in July 2015, down 2.1 percent from July 2014 and down 0.4 percent from June 2015, according to a recent report from CoreLogic.

REO sales made up 6.1 percent and short sales accounted for 3.3 percent of July’s total homesales within the distressed category. The sales share was the lowest since September 2007 when it hit 5.2 percent. Short sales dipped below 4 percent in mid-2014 and have remained in the 3-4 percent range since. At its peak in January 2009, distressed sales totaled 32.4 percent of all sales, with REO sales making up 27.9 percent of that share.

Improving home prices can be a factor of the ongoing shift away from REO sales since bank-owned properties usually sell at a larger discount than short sales, according to the report. By comparison, the pre-crisis share of distressed sales was traditionally about 2 percent. Should the current year-over-year decrease in the distressed sales share continue, it would reach a “normal” 2-percent mark in mid-2019.

Florida had the largest share of distressed sales of any state at 20.7 percent in July 2015, followed by Maryland (20.6 percent), Michigan (20.2 percent), Connecticut (19.1 percent) and Illinois (18.9 percent).