County Construction Contracts Down 13 Percent from 2012Thursday, August 22, 2013
San Diego County contracts for future construction declined 13 percent from a year ago in the first seven months of 2013, according to data from McGraw Hill Construction.
The approximately $1.9 billion in projects was down from $2.2 billion in the January-through-July period of 2012. Residential contracts rose 43 percent, to $998.6 million, while nonresidential contracts dropped 39 percent, to $910.9 million.
Nonresidential projects include educational, religious, administrative and commercial buildings. Residential buildings include one and two-family houses and apartments.
The state of California saw overall construction contracts rise 1 percent from a year ago in the first seven months, to $27.6 billion. Residential projects were up 15 percent, while nonresidential projects dropped 7 percent.
— SDBJ Staff Report