Following two years of steady growth, housing construction across the Bay Area dipped in 2023, as developers reckoned with the increased costs of borrowing, labor and building materials.
Permits in the five-county Bay Area were down last year, dropping 10% to 16,535 from 18,457 the year prior, according to data from California’s housing department.
Here are five charts that explain the slowdown in construction in the Bay Area — which cities are building the most, how much of the new housing is affordable...