The Real Deal Miami

South Florida construction contracts rose in October

Contract awards have also jumped year-to-date from 2013
December 02, 2014 03:00PM

A home in South Florida under construction.

Construction contracts jumped 133 percent.

South Florida contracts for residential and nonresidential construction jumped 70 percent in October over the same period in 2013.

McGraw Hill Construction’s report covers contracts for future construction in Miami-Dade, Broward and Palm Beach counties. Nonresidential construction contracts jumped 133 percent to $391 million from $168 million in October 2013, according to data from Dodge Research and Analytics. Residential contracts increased 48 percent from $485 million to $718 million.

For year-to-date cumulatively, nonresidential contracts rose 15 percent to $2.5 billion from $2.1 billion. McGraw Hill reports that residential contracts rose from $3.5 billion in 2013 to $4.9 billion, representing a 37 percent change. – Chris Guanche