By LARRY HILLIARD

Ledger Staff Writer

The local homebuilders report has served up a double dose of good economic news.

New home starts rose by 7 percent here in 2004. There were 168 new housing starts in the county last year, compared to 157 in 2003, according to the Home Builders Association of Cherokee County.

“Spec house” production also increased from 51 in 2003 to 65 in 2004.

The homes also cost more to build. The value of the new homes jumped about 1.5 percent from $106,790 in 2003 to $108,431 in 2004.

Housing starts rose slightly in the city from four in 2003 to six in 2004.

There was a strong showing in the commercial sector in 2004 as the value of commercial permits rose from $15.6 million in 2003 to $18.3 last year. That figure is only about $100,000 more than the value of new single-family housing starts — which reflects the strength of the residential homebuilding sector, according to the report.

The $6.5 million upgrade to the Broad River Energy Center was the largest commercial investment in the county last year.