The good news is that Greater Boston’s housing market has come a long way from its depths following the Great Recession. The bad news, at least for cash-rich real estate investors, is there are relatively few distressed properties to park their money.

According to a new report by CoreLogic, some 21.6 percent of the homes sold in Massachusetts in March were all-cash deals, whereby a buyer pays for a property without any sort of mortgage financing. The ratio was down 2.9 percentage points from what was recorded in the Bay State in the year-earlier period, and it trailed the national all-cash sale rate of 34.6 percent. Among major metros throughout the country, all-cash sales as a percentage of all homes sold in March were down 4.5 percentage points on a year-over-year basis.

A breakdown of all-cash sales, as a percentage of all home sales, by state in March.

Recent housing data, combined with anecdotal evidence offered by local real estate agents, indicate the local market has rebounded sharply from the region’s long winter. March’s Case-Shiller Index recorded a 4.6 percent year-over-year increase in existing home prices in Boston and a 0.4 percent increase for the month. That momentum has since accelerated, local agents say.

At the national level, the vast majority of March’s all-cash deals targeted distressed properties, with foreclosures (56.2 percent) and short sales (31.6 percent) combining to outpace all other transaction categories.

Philadelphia posted the month’s highest rate of all-cash sales at 60.7 percent, followed by Florida’s WestPalm Beach/Boca Raton/Delray Beach (59.9 percent) and North Port-Sarasota-Bradenton (59.5 percent) areas. Colorado Springs, Colorado, registered the lowest all-cash rate of 16.1 percent.