A slump in the Springs-area housing market in the second half of 2022 continued during the first quarter of 2023, as prices, sales and new construction slowed.

Source: https://gazette.com/premium/housing-rebound-after-a-tough-2022-colorado-springs-real-estate-industry-members-hope-for-a/article_2afcfa66-dd4b-11ed-997b-c760c86fc6ff.html

Despite higher borrowing costs triggered by Federal Reserve rate hikes in 2022, some Springs-area apartment complexes were in the planning pipeline the last few years and developers went ahead and pulled permits for the projects.

Source: https://gazette.com/business/colorado-springs-residential-and-commercial-construction-industries-weather-a-bumpy-2022/article_855dc868-95d0-11ed-a07e-d7f2bbc0f3ad.html