New home building is slowing in Colorado Springs. A report released Friday showed 360 new home construction permits were issued in September for single family homes in El Paso County. That number is down 20% from a year ago. Reasons for the drop-potential buyers just can’t afford the skyrocketing prices of new homes. Those prices have been going up because new home builders are paying more for building materials and the additional costs are being passed on to the home buyer. And because of the supply chain, its taking longer to build new homes.
