New home starts continue downward spiral

New home starts in Cherokee County are staying on a downward trend through July.

According to the latest report from the Home Builders Association of Cherokee County, there were five new home starts in the county in July compared to eight new home starts in July 2007. For the year, new home starts are down by 11 in the county compared to 2007.

The homes being built in 2008 are more expensive, however. The five new home starts last month were valued at $537,897, an average of $107,579 each. During the comparable period last year, the new home starts averaged $85,609.

There were no new home starts in the City of Gaffney either this past July or in July 2007, according to the home builders association. So far this year, there have been only two new home starts within the city limits and both projects began last January.

While new home starts are on the decline, the number of building permits issued shows ongoing construction activity.

There were 130 building permits issued in Cherokee County last month that totaled $1.78 million in projects compared to 119 permits totaling $2.2 million in projects in July 2007.

In the City of Gaffney, there were $2.5 million in building permits issued last month, a big increase from the $941,208 in building permits issued in July 2007.

However, the lion's share of the building permit value came from one source, a $1.94 million construction project at Limestone College's Winnie Davis Hall.

Alterations by the Gaffney Housing Authority were valued at $122,000 while remodeling work for a tenant at the Prime Outlets — Gaffney was valued at $150,000.