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El Paso County, Colo., Home Construction Down 3.7 Percent from Last Year.
Knight Ridder/Tribune Business News, October, 2002
By Rich Laden, The Gazette, Colorado Springs, Colo. Knight Ridder/Tribune Business News
Oct. 2--Low mortgage rates drove construction of several hundred homes last month in El Paso County, but building activity lags behind last year's record pace.
Single-family home building permits totaled 312 in September, according to figures posted Tuesday on the Pikes Peak Regional Building Department's Web site (www.pprbd.org/permitreports.html).
That's down 3.7 percent from the same month last year yet represents respectable building activity at a time when Colorado Springs-area employers have laid off more than 7,300 since early 2001.
"People have been pulled out of apartments" because of mortgage rates hovering around 6 percent, said...
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