The real estate slump in Hattiesburg is in recovery mode - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

The real estate slump in Hattiesburg is in recovery mode

HATTIESBURG, MS (WDAM) - Mississippi residents aren't doing so bad when it comes to foreclosure rates.

According to a California-based company, Realty Trac, Mississippi ranked 47th among the states and the District of Columbia in foreclosure related actions.

 In the Pine Belt, President of The Hattiesburg Area Association of Realtors Billy King said between January and June of 2011, 95 homes in foreclosure were sold and 57 remain on the market.

King said overall the city of Petal has seen the highest spike in foreclosures. However, July numbers show the amount of homes in foreclosure tapering down some.

"The 57 on the market at this time is about 5 percent of the total homes that is on our market," said King. "So, it is not a large portion. Now of the sales there is probably about 17 percent, so they have sold maybe a little bit better or faster on average because they were foreclosures and they might be a better deal."

Pine Belt Realtors are seeing a positive shift in the overall market, 541 homes have been sold within the first six months of this year, that is more sales than they have seen in the last two years.

Copyright 2011 WDAM. All rights reserved.

  • Local NewsLOCALMore>>

  • Miss Hospitality 2017 crowned in Hattiesburg

    Miss Hospitality 2017 crowned in Hattiesburg

    Sunday, July 23 2017 12:45 AM EDT2017-07-23 04:45:53 GMT
    Emma Grace McGrew of Booneville is crowned the 2017 Mississippi Miss Hospitality in Hattiesburg Saturday night. Photo credit WDAM.Emma Grace McGrew of Booneville is crowned the 2017 Mississippi Miss Hospitality in Hattiesburg Saturday night. Photo credit WDAM.

    The new Miss Hospitality has been crowned in Hattiesburg.  She is Emma Grace McGrew, 18, of Booneville. 

    More >>

    The new Miss Hospitality has been crowned in Hattiesburg.  She is Emma Grace McGrew, 18, of Booneville. 

    More >>
  • Players of the Pine Belt: Collins' Tavarian McCullum

    Players of the Pine Belt: Collins' Tavarian McCullum

  • "Community Rocking" for new year at Hattiesburg High School

    "Community Rocking" for new year at Hattiesburg High School

Powered by Frankly