Demand for apartments to continue for the next few years, experts say

Published: February 10, 2014, 10:40 am, by Rich Laden
Construction was taking place last summer at the Encore at First & Main Luxury Apartment Homes, east of North Carefree Circle and Powers Boulevard in Colorado Springs.  JERILEE BENNETT, THE GAZETTE

Construction was taking place last summer at the Encore at First & Main Luxury Apartment Homes, east of North Carefree Circle and Powers Boulevard in Colorado Springs. JERILEE BENNETT, THE GAZETTE

Housing officials meeting at last week’s National Association of Home Builders International Builders’ Show in Las Vegas discussed why they expect a continued increase in the demand for apartments. Among the reasons: Developers are catching up on apartment construction after the recession; there’s a strong demand for apartments among young people; and some would-be homebuyers can’t qualify to purchase and therefore rent instead. Read about the apartment market here in a story posted on the NAHB web site. Also, read an Aug. 25, 2013, story in The Gazette here about apartment demand and construction in Colorado Springs and the Pikes Peak region.