New home starts down 14 percent from 2007

The local housing market's recovery continued to prove elusive during the first six months of 2008.

There were 48 new home starts in the county this year - down from 56, or 14 percent, from the same period last year, according to the Home Builders Association of Cherokee County monthly report. June added to the trend with five new home starts compared to seven in June, 2007.

Home starts in the city were unchanged with two this year - the same number as 2007.

But the value of those homes dropped dramatically from $157,500 in 2007 to $61,975 this year.

There was better news in the price of the new homes in the county this year. That figure rose from $110,090 in the first six months of 2007 to $120,949 so far this year.

The commercial building sector also had it rough in the county this year. The total value of commercial projects over $100,000 for the first six months this year is $3,598,861, a decrease of slightly more than $2 million from the same period in 2007.

Surprisingly, the commercial building market has surged a bit in the city this year. The value of commercial projects for the first six months in the city totaled $1.7 million compared to $1.33 million during the same period last year.