Local Construction Contracts Up 59 Percent in 2012Friday, May 25, 2012
San Diego County’s contracts for future construction rose 59 percent in the first four months of 2012 compared with the same period a year ago, according to data reported May 23 by New York-based McGraw Hill Construction.
Residential and nonresidential contracts totaled more than $1.2 billion from January to April, compared with $779.6 million in the first four months of 2011.
Nonresidential activity has surpassed $920.4 million this year, more than doubling the year-ago figure. The $325.5 million in residential contracts is slightly higher than the $322 million for January-April of 2011.
The nonresidential side was boosted this year largely by April’s $656.3 million in contracts, accounting for 71 percent of contracts in that category so far in 2012. In April 2011, the nonresidential total was $55.1 million.