County Contracts for Future Construction Down 13% in First Nine Months of 2013Monday, October 28, 2013
San Diego County’s contracts for future construction dropped 13 percent from a year ago in the first nine months of 2013, according to new data released by McGraw Hill Construction.
The total value of local nonresidential and residential projects was approximately $2.18 billion in the January-to-September period. For the month of September alone, contract values declined 15 percent from a year ago, to just over $104 million.
In the first nine months of the year, local nonresidential projects dropped 36 percent, to $1.05 billion in contract value, while residential projects rose 31 percent, to $1.13 billion.
The nonresidential category includes manufacturing, office, retail and other commercial projects. Residential projects include single-family and multifamily developments, such as apartments and condos.
California as a whole saw total project values rise 3 percent in the first nine months, to more than $36.5 billion.
— SDBJ Staff Report