San Francisco is falling further behind on its state-mandated target for new housing, with the city poised to deliver fewer units in 2024 than it has in any of the past 12 years.
Only 1,205 units have been delivered in the area thus far this year, less than 50% of the 2,593 units that arrived in 2023. Roughly half of the new supply (624 units) is deed-restricted affordable.
This makes the past two years the most anemic for home production in San Francisco since 2011 and 2012 combined to deliver about 1,300 units in an economy that will still recovering from the 2008 financial collapse, the San Francisco Chronicle reported.
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