Boston-Area Residential Permitting Drops by 67% Over Three Years
The number of building permits pulled by residential developers in Greater Boston plunged nearly 67% in three years, from 15,019 in 2021 to just under 9,000 in 2024, Realtor.com reported, citing new data from Boston Indicators, the research arm of The Boston Foundation. Year to date, the pace has been even slower.
Specifically, as of July 2025, permits are running 44% below levels for the same period four years ago, pointing to a future slowdown in new construction. At the same time, researchers warn that elevated tariffs on imports are making building materials more expensive, while restrictive immigration policies are raising the possibility of construction worker shortages.
The findings come even as the Boston Foundation’s 2025 Greater Boston Housing Report Card shows that Massachusetts has added nearly 98,000 housing units statewide since 2020, including 71,000 in Greater Boston. “Overly restrictive and archaic zoning laws, a historically pervasive not-in-my-backyard culture and recent increases in construction costs have curbed new construction in the metro,” said Realtor.com senior economist Jake Krimmel.
Whether you lend, build, broker, invest, or advise in the multifamily arena, you won’t want to miss Connect Southeast Multifamily on December 4th. If you’re involved in development, repositioning, investment, asset operations, financing, or trading — these insights are designed for you. Take a look at the full event agenda and register now to be in the room on December 4th! www.ConnectSEMF2025.com
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80-Unit Seniors Housing Development Opens in Suburban Chicago
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312-Unit Multifamily in Indiana Changes Hands
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout