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Northwest Mississippi Foreclosure Market Report - March 2009
Northwest Mississippi Foreclosure Market Reportby Pam SimpsonThe Kudzu Vine
Desoto County MSTate County MSPanola County MSMarshall County MS
For the week ending 3/6/2009, there were 19 foreclosures added to the Northwest MS MLS.  There were 24 price reductions in existing foreclosures and 19 went under contract.
Here is a chart showing the Foreclosure Activity in the 4-county area since March of 2008:

About 6.9% of the active listings in the Northwest MS market are foreclosures (including HUDs, REO, VA, Fannie Mae).  That is a drop from 8.2% back in January.  Here is a breakdown of the foreclosure market by community:

Olive Branch contines to see the most foreclosure activity, but Southaven is a close second.  Since Olive Branch and Southaven are desireable communities to live in, many of the well-priced foreclosures in good shape receive multiple offers and are sold pretty quickly.
For comparisions to previous numbers, see the last NW MS Foreclosure Market Report compiled in January 2009.
More current market reports:
February 2009 Market Report for Olive Branch
February 2009 Market Report for Hernando
February 2009 Market Report for Tate County
If you are considering purchasing a HUD home in Northwest Mississippi, please read this HUD Home FAQ.
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