San Diego County’s contracts for future construction rose 30 percent in value for the first nine months of 2014 compared with the same year-ago period, topping $3.2 billion, according to the latest data from McGraw Hill Construction.
Non-residential contracts totaled more than $2.4 billion, doubling the figure for January-September 2013, while residential projects declined 38 percent, to $815.4 million.
The non-residential category includes educational, healthcare, government, office, hotel, retail and other commercial projects. Residential projects include single-family and multifamily housing.
The local region’s overall project volume in 2014 has generally been trending ahead of 2013 for most of the year, though the margin of improvement has been sliding in recent months. At mid-year, for instance, the total value of contracts was up 50 percent from the first six months of 2013, according to McGraw Hill Construction.
California as a whole saw overall project volume dip 4 percent in the January-September period, to approximately $37.4 billion. Non-residential projects rose 9 percent from a year ago, residential contracts were up 5 percent, and non-building projects, such as roads and bridges, declined 24 percent.