New home starts down 12 percent in 2007
116 this year, 132 last year
By LARRY HILLIARD Ledger Staff Editor larry@gaffneyledger.com

The year-long housing market slump didn't let up for the holidays.

There were eight new homes starts in Cherokee County in December - down one from the same month a year ago, according to a monthly report issued by the Home Builders Association of Cherokee County.

For 2007, there were 16 fewer home starts in Gaffney and Cherokee County compared to the housing figures for 2006 - 116 in 2007 and 132 in 2006.

But there was a bit of good news - the average price of the home starts in December rose sharply from $102,870 in December 2006 to $154,000 last month. That huge hike was the result of a new home with a value of $468,000.

The housing market for the city in December remained unchanged. There were no new homes starts in December 2006 or December 2007.

A $154,000 upfit for Hibbett Sports in the new Peach Plaza shopping center was the largest commercial permit issued by the city last month. The largest commercial permit issued by the county was for a $31,200 office trailer for J.R. Robbs.