2014 Pulitzer Prize Winner

Colorado Springs one of the nation’s top markets for homebuilding in 2013

Published: May 7, 2014, 11:07 am, by Rich Laden
Homes under construction in November 2013 at the Stonewater at Northgate development, near Voyager and Middle Creek parkways in northern Colorado Springs. RICH LADEN, THE GAZETTE

Homes under construction in November 2013 at the Stonewater at Northgate development, near Voyager and Middle Creek parkways in northern Colorado Springs. RICH LADEN, THE GAZETTE

Colorado Springs had one of the highest rates of single-family home construction in the nation during 2013, according to Jed Kolko, chief economist for on-line housing service Trulia.com.

As part of a look at homeowner preferences on new vs. existing homes, Kolko used census data to examine building permit activity in metro areas around the country. Of the nation’s top 10 markets with the most single-family construction, Colorado Springs ranked seventh with 10.9 new home building permits per 1,000 existing housing units. Raleigh, N.C., ranked first, with a rate of 17.2 new home building permits per 1,000 existing housing units.

The numbers mean that newly built homes are easier to find in Colorado Springs, Raleigh and other top 10 markets with the most single-family construction.

“These markets with the most new single-family construction tend to have strong recent job growth and had a milder housing bust,” Kolko wrote. “They also tend to be lower-density metros where the majority of new construction is single-family.”

The metro area with the tightest supply of newly built homes? New York-New Jersey, which had a rate of 0.4 single-family building permits per 1,000 existing housing units.

Read Kolko’s report here.

Colorado Springs-area homebuilding is off to a slower start in 2014, in part, because monthly building permit numbers are being compared against 2013′s strong performance, according to reports from the Pikes Peak Regional Building Department.