The San Jose metropolitan area has topped a national ranking — but for reasons that signal growing trouble for California’s housing market. According to a recent HomeAbroad report analyzing U.S. Census Bureau data, the San Jose-Sunnyvale-Santa Clara region recorded the steepest drop in residential construction permits among the country’s 100 largest metro areas, with a staggering 68% decline over five years. In July 2020, the region issued 1,949 building permits. By July 2025,