Homebuilding at a 10-year high in Colorado Springs: Report

COLORADO SPRINGS, Colo. – Homebuilding in the Colorado Springs-area reached at 10-year high in November and will continue to remain strong through the coming year, according to an industry report.

Permits for single-family homes and the surrounding El Paso County reached a total of 3,017 – the most since 3,446 permits were issued in 2006, according to a Pikes Peak Regional Building Department report released Thursday.

By reaching that number, the local homebuilding industry has reached “equilibrium” by building enough homes to meet demand without overbuilding, according to the Colorado Springs Gazette.

The latest Regional Building Department report also noted that through the first 11 months of this year, building permits were given nearly 18 percent ahead of the same period in 2015; single-family permits were over 200 in November, a 4.1 percent increase over the same month in 2015; and single-family permits issue through November totaled $1.26 billion, according to the Gazette.