County Construction Contracts Down 13% Through AugustMonday, September 30, 2013
San Diego County contracts for future building construction declined 13 percent from a year ago in the first eight months of 2013, according to newly released data from McGraw Hill Construction.
Builders took out permits for residential and nonresidential projects with a total value of approximately $2.08 billion in the January-to-August period, compared with $2.38 billion in the year-ago span.
Nonresidential projects dropped 36 percent, to $1.02 billion, while residential contracts rose 33 percent, to $1.06 billion.
Nonresidential projects include educational, religious, hotel, manufacturing and other commercial buildings. Residential projects include apartments, single-family and attached homes.
The state of California saw total projects rise 1 percent in the first eight months, to $31.7 billion. Nonresidential contracts were down 5 percent, while residential projects rose 18 percent.
—SDBJ Staff Report