Basically confessing sin is good for the soul, it gets everything out in the open, clears the air. Now you are being honest about what everyone knew anyway. Most important God desires it for our good and will forgive us.
I don’t condemn you either. Go and sin no more. John 8:11
This is a nice in-depth Desiring God article on confession effects:
https://www.desiringgod.org/articles/what-happens-when-we-confess-sin
Living Bread 