We Predict: A Healthy Year for Home Building in 2017

Homebuilding in Colorado SpringsColorado Springs homebuilders and homeowners have a lot to celebrate as we bid farewell to 2016 and eagerly ring in 2017. Homebuilding reached a 10-year high last month and is expected to stay robust for the foreseeable future.

A recent Pikes Peak Regional Building Department report shows that from January through November of this year, 3,017 permits have been issued for the construction of single-family homes in the Springs and surrounding El Paso County. There have not been this many in a calendar year since 2006 when there were 3,446 total permits, and it’s the first time in a decade that first-time permits have topped 3,000.

This steady pace is keeping time with the ongoing demand for homes in our highly coveted and very desirable region. You may recall that Colorado placed No. 4 overall in CNBC’s 2015 America’s Top States for Business rankings. The news is even better this year. Colorado moved up to the No. 3 spot overall, and our state garnered an impressive 1st place ranking for workforce and 2nd place ranking for our economy.

CNBC’s economic metrics include a solid and diverse economy “with access to the biggest players in a variety of industries” as well as looking at the number of major corporations headquartered in each state. CNBC bases the economic rankings on:

economic growth

job creation

consumer spending

the health of the residential real estate market

It’s no surprise we’re doing so well and that the demand for homes in our area keeps growing. Our promising economic future is encouraging buyers to pursue their home owning and home building dreams, despite the recent rise in interest rates. Builders are keeping up with the demand without overdoing it, determined to learn from the mistakes of the painful past.

Other encouraging findings from the Regional Building Department report include:

January through November permits are 18 percent higher this year than for the same period in 2015.

Single-family permits totaled 205 in November, a 4.1 percent increase over November of 2015.

The dollar value of single-family permits issued through November totaled $1.26 billion, ahead of last year’s total of $1.13 billion.

Are you ready to make the home of your dreams an exciting reality in 2017? Industry leader Saint Aubyn Homes offers new single-family homes in Colorado Springs and Northern Colorado. If you don’t have time to wait for your dream home, you might love one of our skillfully crafted, energy-efficient homes currently available in one of our desirable communities. Our goal is to provide you with an irresistible and flawless home buying experience. For more information, please visit SaintAubynHomes.com.

Source

http://gazette.com/colorado-springs-area-homebuilding-now-at-a-10-year-high/article/1591395