Pikes Peak home market sees busiest month of June since 2005

COLORADO SPRINGS, Colo. (KRDO) -- The Pikes Peak Regional Building Department (PPRBD) tells KRDO NewsChannel 13 the demand for housing and apartments is through the roof.

This past month of June, PPRBD signed off on 445 permits for constructing single-family homes in El Paso and Teller Counties. That's a near 20% increase from May of 2021, and the busiest month of June since 2005.

According to Greg Dingrando with PPRBD, a large portion of the new single-family homes being built by developers are concentrated in northern Colorado Springs.

"Whenever we are seeing numbers like this we know that the builders out there are extremely busy and they are just fighting to keep up," said Dingrando. "Considering we were in a pandemic last year and we are still struggling to get back to what we call normal. I think it just shows how strong the Pikes Peak Region is and just how popular it is here."

However, Dingrando says 2021 might just be the year of the apartment.

Thru June 1st of this year, PPRBD has already signed off on more permits (1,346) to construct new apartment units than in all of 2020 (1,298).

PPRBD says 2020 was a 'pretty solid' year, but the regional building department projects that 2021 will be completely abnormal.

"We already know about at least 3,000 new units in the plan review side of things," said Dingrando.

"Assuming those get permitted here shortly were looking at more than 4,000 units getting permitted in the year of 2021."

In June, PPRBD signed off on 236 units for an apartment complex near the Broadmoor World Arena, and 58 units for a complex in Monument. While earlier this year, the regional building department for El Paso and Teller Counties signed off on construction permits for 3 new apartment complexes near downtown Colorado Springs and near Woodmen Avenue and Powers Boulevard.