Due to a burst of infrastructure contracts, North Carolina’s overall total for new construction climbed an estimated 58% in July, for a total of more than $1.8 billion, according to McGraw-Hill Construction, publisher of Southeast Construction.
The company estimated the value of North Carolina’s July nonbuilding contracts at $897.1 million, well ahead of last July’s $180.3 million total for this sector. The other two construction sectors were down slightly for the month. Residential contracts totaled $470.6 million, or 7% below last July’s total. Nonresidential contracts tallied nearly $467.6 million, or 3% behind the pace of a year ago.
On a year-to-date basis, the same pattern holds. Nonbuilding has recorded an estimated $2.9 billion in new contracts, or 64% ahead of last year’s pace. The other two categories, again, are negative. Through July, nonresidential contracts total nearly $2.6 billion, or 18% below 2010’s pace. Residential is 13% behind, with nearly $3.3 billion in new contracts to date.
Overall, North Carolina’s year-to-date total for all contracts is nearly $8.8 billion, or 1% above last year’s $8.7 billion total. Read More.