Q3 2024 Contruction Pipeline Report

In Q3 2024 there were 326 new building filings, reflecting a 10% increase from Q2 2024 with 297 filings, and a 5% decrease year-over-year. The spike in Q4 2023 is due to 501 of the 734 residential permits being for one- to three family homes in Staten Island, likely driven by compliance with Local Law 154 of 2021, which prohibits the use of fossil fuels for heating and hot water in new one- and two-family homes by January 1, 2024.