Homebuilding Activity Drops Off in Greater Boston as Costs Mount

By Greg Ryan • Published February 1, 2023 • Updated on February 1, 2023 at 12:21 pm

A multifamily building under construction in Brockton. The year-over-year decline in permitted housing units is the region’s steepest drop since the Great Recession, according to preliminary housing data.

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%.

WATCH ANYTIME FOR FREE