Despite rising rents and home prices, the Baltimore metropolitan area is on target to build fewer homes than at any point since the Great Recession. An analysis of census data shows Baltimore and its outlying counties issued permits for about 6,600 new housing units last year — the fewest in a decade. Rising interest rates and materials costs, as well as global supply chain issues, have made construction more expensive.
The Baltimore region is building fewer homes. That’s a problem.
July 19, 2023