New Builds in Colorado Springs Heat Up - Permits up 33% Year Over Year

As the market for heats up, the number of permits for Single Family homes continues to rise. March marks the 15th straight month that the number of permits has increased and shows a nearly 33% increase from March of 2012.

From The Gazette:

Single-family building permits issued to area homebuilders in Colorado Springs and El Paso County totaled 227 in March, a nearly one-third increase over the same month last year, according to a Pikes Peak Regional Building Department report Monday. Permits now have increased for 15 straight months on a year-over-year basis.

For the first quarter of 2013, single-family building permits totaled 625, a 70.3 percent jump over the same period in 2012. It was the best first quarter for any year since 2007.

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These are big numbers and point to a future supply coming into balance with the current high demand for Colorado Springs homes and .

As we have continued to post, the number of Colorado Springs foreclosures continues to dwindle as the demand for homes picks up. With inventory falling drastically, here's hoping we see more new builds - and quickly.

If you would like detailed information on new home builds in a certain area of Colorado Springs or more information on , give our team a call.