The latest report on homebuilding in the Colorado Springs area had some good news and bad.

October saw 245 permits issued for single family homes, including detached houses, townhomes and duplexes, according to Pikes Peak Regional Building data; that’s up about 16% from last October’s 211. But permits issued to build new homes are down year to date — 2,416 by the end of October, a roughly 4% drop compared to the same time last year, which saw 2,507 permits issued.

When only considering detached single family homes, the trend repeats. This year is slightly down compared to the same period last year, data gathered by the Gazette shows: 2,030 permits issued so far this year vs. 2,147 in the same period last year.

Despite economic uncertainty and a slowing labor market, U.S. homebuilder sentiment jumped to a six-month high in October, Reuters reported; that rise came amid hopes that declining mortgage rates would stimulate demand and help ease an inventory overhang that has hampered new housing construction, the news agency said. The sentiment at Oakwood Homes, a major constructor in Colorado Springs, seems to be high as it reported strong sales this year. Ryan Delp, the company’s Colorado market president, said sales are up 18% and demand for new builds, especially cheaper options, has persisted.

“We expect this momentum to continue into 2026,” he said via email. “Despite the housing market experiencing a mix of challenges and opportunities this year, Oakwood Homes has been able to capture increased market share because it remains committed to delivering attainable and affordably priced homes.”

The company opened two new housing developments earlier this month, adding 242 new homes to the Colorado Springs inventory. Early next year, they plan to add more, a company spokesperson said.

The region has yet to equal numbers seen early in the decade. In 2021, there were 5,074 single family home permits approved. The year before there were 5,068. These highs have not been matched since.

Here’s a summary of homebuilding permits issued between 2020 and 2024. These represent activity for the full year.

• 2020: 5,068
• 2021: 5,074
• 2022: 3,605
• 2023: 2,667
• 2024: 2,854