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