Contracts awarded in January for future construction in San Diego County were down 78 percent from the first month of 2013, according to new data from McGraw-Hill Construction.
Nonresidential and residential contracts for the month had a total value of $131.7 million. An 88 percent drop in nonresidential projects was partially offset by a 5 percent increase in residential contracts.
January’s $63.6 million in nonresidential contracts included office, industrial, retail, educational, government and other nonhousing projects. Residential contracts, covering single-family and multifamily housing, totaled $68.1 million for the month.
The state of California saw January construction contracts drop 28 percent year-over-year, to $2.5 billion. Nonresidential projects were down 62 percent statewide, while residential contracts rose 1 percent.