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%.

STAY IN THE KNOW

icon

Watch NBC10 Boston news for free, 24/7, wherever you are.

icon

Get Boston local news, weather forecasts, lifestyle and entertainment stories to your inbox. Sign up for NBC Boston’s newsletters.

More on this story from Boston Business Journal

Copyright Boston Business Journal
Contact Us