Boston Business Journal

Homebuilding Activity Drops Off in Greater Boston as Costs Mount

The number of new housing units permitted in Greater Boston fell in 2022 after hitting a high point a year earlier, as higher costs and broader economic concerns took a toll on housing production.

Cities and towns in the region permitted 14,593 new units last year, more than a 12% decline from 2021, according to preliminary U.S. Census Bureau data published last week. It is metro Boston's largest year-over-year drop-off since the Great Recession. Nationally, units permitted fell by an estimated 5%.

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