New home construction is on the rise in the Pikes Peak region after a two-year slump

a partially constructed home with parts of the OSB walls standing but no roof yet. The framing wood is up for the interior walls. a street sign shows the house is at the corner of two paved streets called Miro lane and Wolf Lake Dr. The sky is blue.
Pikes Peak Regional Building Department
A new home under construction in northeast Colorado Springs.

Building permits issued for single-family homes increased by 32 percent year-to-date when compared to the same time last year. That’s after a two-year slump according to the Pikes Peak Regional Building Department, which handles permits for El Paso County, Colorado Springs, Fountain, Manitou Springs, Green Mountain Falls, Monument, Palmer Lake, and the City of Woodland Park in Teller County.

More than half of those new homes will be built in Colorado Springs, more than a third in unincorporated El Paso County and the others in five cities including Monument, Fountain and Woodland Park.

“After a down year in 2023, it's nice to see home construction is bouncing back. We’ll see if the trend continues through the summer, but so far, the numbers for new homes are off to a good start here in the Pikes Peak region,” said Roger Lovell, the Regional Building Official in a written statement.

Officials said there are indications that activity will stay high, as the number of plans submitted is also up. Those typically lead to permits. 

Monthly single-family home permits issued for the region

  • January 2024 - 181 permits issued (up 17% compared to January 2023)
  • February 2024 - 310 permits issued (up 87% compared to February 2023)
  • March 2024 - 273 permits issued (up 16% compared to March 2023)
  • April 2024 - 324 permits issued (up 24% compared to April 2023)
  • May 2024 - 372 permits issued (up 28% compared to May 2023)

Breakdown of number of single-family home permits by jurisdiction – Year-to-date for 2024 (Jan – May)

  • Colorado Springs - 775
  • El Paso County - 530
  • Monument - 94
  • Fountain - 35
  • Woodland Park - 22
  • Manitou Springs - 3
  • Palmer Lake - 3
  • Green Mtn Falls - 0

The data was provided by the Pikes Peak Regional Building Department.