New foreclosures in the Magnolia State remain relatively low despite other states reporting rates as high as one in every 55 homes. Mississippi foreclosures fell last month, in fact, by 25 percent, while nationally, foreclosures increased by 24 percent in the first three months of 2009. That statistic represents another 804,000 families losing their homes, bringing the national total to nearly 2 million.
In March, according to RealtyTrac, 221 Mississippians received one or more foreclosure-related notices. That rate is still 17.5 percent higher than March 2008. Nationally, the state ranks 46th. Desoto County residents were hardest hit in March, with 146 new foreclosures, for one in every 401 homes.
For the first quarter of 2009, January through March, 768 Mississippians received notices, up 57 percent from the last quarter of 2008, and up 68 percent from the first quarter of 2008.
RealtyTrac reports 1,138 foreclosed homes in the state, with an average sales price of $116,422.
It just goes to show, when you've been in a 150-year recession, you can't be bothered by some silly national slump.
- Brian C Johnson
Well put, Brian.
It's rather telling that Desoto County, one of the most--if not the most--affluent counties in the state, is the hardest hit.
- golden eagle