Housing price appreciation in the Morgantown metropolitan statistical area (MSA) has decelerated compared to rates posted during the 2004-05 period, according to the new Morgantown MSA Economic Monitor, published by the West Virginia University College of Business and EconomicsBureau of Business and Economic Research.

According to the latest data from the Office of Federal Housing Enterprise Oversight, year-over-year growth rates in Morgantown have averaged 7.9 percent during the most recent four quarters, well below the average growth rate of 12.7 percent during the preceding four quarter period,said George W. Hammond, research associate professor in WVU s College of Business and Economics .

While single-family house price appreciation has moderated, residential investment has surged so far in 2007 in the Morgantown MSA which consists of Monongalia and Preston counties.

According to the latest data from FW Dodge, the value of residential construction starts jumped from $27.4 million in 2006 to an annual rate of $107.5 million through April 2007. That was related to a surge in apartment starts during the periodincluding the Augusta apartments at the Square at Falling Run.

The FW Dodge data also shows a large swell in non-building activity in Morgantown, which is related to investment in electric power generationsuch as the Longview Power Plant.

Finally, the Dodge data also reflects continued strong investment in nonresidential structures, demonstrating expansion in the local education, health care, commercial and retail sectors.

The June edition of the Morgantown MSA Economic Monitor, compiled by the WVU Bureau of Business and Economic Research, contains the full analysis of these trends. The Monitor is a quarterly publication of the Bureau of Business and Economic Research with underwriting support provided in part by Clear Mountain Bank.

Copies of the publication can be found atwww.bber.wvu.edu.