More Mississippians Buying Homes

The housing market is doing well compared to the rest of the U.S.

By: Heather Burke |
Published: April 17, 2009

The housing market is struggling across the country, but in Mississippi we're actually doing better than the national average.
According to the group "Realty Trac", foreclosures were down about 25% in Mississippi last month, compared to the national average which shows foreclosures up some 24%.
Home sales here are also growing, according to the Jackson Association of Realtors.
In the last 8 weeks, pending sales were up about 27%.
We're told this is the first time in six months pending home sales have gone up that much in Mississippi.
Walker Tann is a local broker.
He says he's sold about four homes this month.
"Now we're starting to see people get out that were on the fence at one point, but got off the fence and actually get out there and look to buy another house," Tann said.
Tann thinks he's been selling more and more homes because interest rates are so low...among other reasons.
"What's great about now is you still with good credit, you can buy a house with not a whole lot of money down necessarily," Tann said. "As long as you can have good credit."
Tann is confident he will close another sale.
"I do think it's going to take a little bit more time, but it's slowly going to pick back up. Locally, I think we're going to continue to see the slow increase in real estate sales and pricing that we're normally been accustomed to."