DFW construction contracts dip, but ahead of 2013

NORTH TEXAS – Construction contracts for North Texas residential projects dipped in November but rose slightly for commercial projects, and activity remained well ahead of the 2012 for the first 11 months of 2013, according to the latest report from McGraw Hill Construction.

In November, nonresidential contracts in the 12-county region totaled $394.5 million, 1 percent ahead of November 2012.

Residential contracts totaled $554 million, 5 percent less than the $585 million in contracts a year ago.

Together, residential and nonresidential contracts totaled $948.5 million in November, 3 percent below the November 2012 total of $977.5 million.

For the first 11 months of 2013, commercial contracts totaled $5 billion, up 32 percent from $3.7 billion for the same period in 2012.

Residential contracts totaled $7.7 billion, up 21 percent from $6.4 billion for the same period in 2012.

When totaled at $12.7 billion, the figure stands 25 percent ahead of 2012.