Miami metro area construction contracts up 62 percent through October: report

Contracts for nonresidential and residential future construction in the Miami-Fort Lauderdale-Miami Beach metro area are up 62 percent for the year to date, according to data released by McGraw Hill Construction. For the year to date, total contracts have reached $4.73 billion, up from $2.91 billion in the same period in 2011. Residential contracts have experienced the biggest jump, with an 87 percent increase to $2.61 billion through the end of October. – Alexander Britell