MISSISSIPPI FORECLOSURES DECREASE 8 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Soars 183 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Mississippi reported 113 properties entering some stage of the foreclosure process in November, an 8 percent decrease from the 123 properties reported in October, but soaring 183 percent above the 40 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although Mississippi foreclosures decreased in November, the numbers have more than doubled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state is still struggling to recover jobs and homes lost from Hurricane Katrina. As businesses continue to reopen, and new home construction moves forward, we may see these numbers continue to move downward.”

 

Mississippi ranked 39th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 11,229 households ranked it among the nation’s 10 lowest states.

 

Top two counties account for largest share of state total

Two counties accounted for 83 percent of all Mississippi foreclosures in November. Hinds County had largest single total, reporting 71 properties entering some stage of the foreclosure process during the month. De Soto County had the second highest tally, reporting 23 properties entering some stage of the foreclosure.

 

Hinds County posts state’s top foreclosure rate

Hinds County posted the state’s highest foreclosure rate in November with one new foreclosure filing for every 1,412 households — 8 times the state average. De Soto County reported the second highest foreclosure rate with one new foreclosure filing for every 1,774 households — 6.3 times the state average. Third highest was Clarke County with one new filing for every 4,050 households — 2.8 times the state average.

 

State makes minor contribution to national total

Mississippi’s foreclosure activity accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                     Mississippi Foreclosure Market by County – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Mississippi

1

93

0

0

19

113

11,229

0.09

n/a

 

 

 

 

 

 

 

 

 

 

Alcorn

0

1

0

0

0

1

15,818

0.06

0.71

Clarke

0

2

0

0

0

2

4,050

0.24

2.77

Copiah

0

0

0

0

0

0

n/a

0.00

0.00

De Soto

1

3

0

0

19

23

1,774

0.54

6.33

Hancock

0

1

0

0

0

1

21,072

0.05

0.53

Harrison

0

1

0

0

0

1

79,636

0.01

0.14

Hinds

0

71

0

0

0

71

1,412

0.68

7.95

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jones

0

1

0

0

0

1

26,921

0.04

0.42

Lauderdale

0

0

0

0

0

0

n/a

0.00

0.00

Lee

0

1

0

0

0

1

31,877

0.03

0.35

Leflore

0

1

0

0

0

1

14,097

0.07

0.80

Lowndes

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

3

0

0

0

3

9,594

0.10

1.17

Marshall

0

1

0

0

0

1

13,252

0.07

0.85

Neshoba

0

1

0

0

0

1

11,980

0.08

0.94

Panola

0

0

0

0

0

0

n/a

0.00

0.00

Pearl River

0

0

0

0

0

0

n/a

0.00

0.00

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Prentiss

0

2

0

0

0

2

5,341

0.18

2.10

Rankin

0

0

0

0

0

0

n/a

0.00

0.00

Stone

0

0

0

0

0

0

n/a

0.00

0.00

Tate

0

1

0

0

0

1

93,354

0.01

0.12

Walthall

0

1

0

0

0

1

6,418

0.15

1.75

Washington

0

1

0

0

0

1

24,831

0.04

0.45

Yazoo

0

1

0

0

0

1

10,015

0.10

1.12

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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