4 of 5
BACKNEXT
1st runner up: Gulfport-Biloxi, Miss.
Foreclosure rate: One in 492 homes
Percent increase: 140%

Mississippi's Gulf Coast area was devastated after Hurricane Katrina in 2005, but the housing market received a boost as people scrambled to move back into the area.

"We couldn't even handle all of the housing needs," said Karen Glass, an area broker/manager at Coldwell Banker Alfonso. "Every day was a new heyday."

But 2009 is a different story. Those post-Katrina movers trying to sell their homes can only hope for only a fraction of what they paid, and Biloxians seem resistant to short-selling, Glass said."People are over a barrel, and they're walking away," Glass said. "They don't always realize we can negotiate a short sale. But they're waiting three months of not making payments before coming to us, and by the time it's on the courtroom steps it's usually too late for us to help."

Glass said she wishes some of Biloxi's 45,000 residents would come to her or another realtor before it's too late. But she thinks the area's foreclosure rates will continue along the same vein for the next several months.



NEXT: 2nd runner up: Sioux Falls, S.D.

Last updated October 30 2009: 12:24 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Source: RealtyTrac
Increase is between the second and third quarters of 2009.
More Galleries
Coolest innovations around the world From flying cars to floating schools, these innovations are improving the lives of people around the world. More
6 luxury getaways to escape your digital life Step away from your smartphone. No Facebook or Twitter here. These are six places where luxury travel agents send clients looking to unplug and experience the ultimate digital-detox getaway. More
Most reliable cars - Consumer Reports These cars, trucks and SUVs scored best in the magazine's latest survey of vehicle owners. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.