Distress sales continue to drag down state’s average home sale price tag
by Ted Carter
Published: December 6,2013
JACKSON, Mississippi — Mississippi’s October home prices climbed only 1.9 percent over October 2012. But once distressed sales are removed from the calculation, the state’s average home price climbs by 6 percent over the previous October, says CoreLogic, a California-based residential property information, analytics and services provider.
CoreLogic’s statewide totals that include short-sales and foreclosure sales are slightly more favorable than totals for the nine-county metro area included in a survey for October by the Jackson Association of Realtors. The association’s metro survey showed an average sale price drop of 1 percent from the October periods, going from $159,314 to $157,751.
The year-to-date average sale price climbed by 2.4 for the association’s survey counties of Hinds, Madison, Rankin, Simpson, Scott, Leake, Yazoo, Copiah and Attala, the association says. The survey found a year-to-date increase of 4.8 percent for Hinds, Madison and Rankin counties.
Nationally, according to the CoreLogic survey, On a year-over-year basis, excluding distressed sales, home prices increased by 11 percent in October 2013 compared to October 2012. Distressed sales include short sales and real-estate owned (REO) transactions.
— Ted Carter, MBJ
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Host families prepare for Mississippi Braves’ season
- Ridgeland property rights tussle is expected to have wide impact
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- Mississippi takes an incentives licking, keeps on ticking
- Investors in Northbrook complex say Ridgeland targeting its own collateral for demolition
- AWAITING ITS FATE: Gables complex may have to shrink to meet law
- HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets
- PHIL HARDWICK: When will Mississippi change its culture?
- Mississippi furniture makers on rebound with more exports