San Diego County finished 2012 with future construction contracts down 18 percent from 2011, according to new data reported by McGraw-Hill Construction.
Nonresidential and residential building projects totaled just over $2.89 billion for the year, down from $3.52 billion, according to a statement. Nonresidential projects dropped 29 percent in 2012, to $1.78 billion, while residential contracts rose 8 percent, to $1.11 billion.
The state of California saw overall construction contracts drop by 7 percent in the past year, to $43.38 billion. A 32 percent gain in residential building projects was offset by an 8 percent drop in nonresidential contracts, along with a 23 percent decline in non-building projects, such as streets, highways and water systems.
— SDBJ Staff Report