Colorado Springs-area home construction got off to strong start in 2020, according to a Pikes Peak Regional Building Department report.
• PERMITS: Building permits issued for the construction of single-family homes in El Paso County totaled 329 in January, a little more than double the number issued during the same month last year.
• HISTORICALLY SPEAKING: Last month's single-family permits were the most for any January since 348 permits were issued in January 2006.
• FACTORS AT WORK: Homebuilding industry officials have said a healthy local economy, low mortgage rates and a shortage of properties available on the resale side of the local housing market have helped drive home construction.
• WHY HOMEBUILDING MATTERS: The industry employs thousands of drywallers, carpenters, framers and the like; wages paid to construction workers help pump up the local economy. Colorado Springs and other local governments, meanwhile, collect sales taxes on the purchase of building materials and use that revenue to pay for roads, parks and other basic services.