Future home construction spikes in Houston MSA

HOUSTON-THE WOODLANDS-SUGAR LAND – In the Houston MSA, residential construction future contracts spiked 28 percent to $716.9 million in July 2013, up from $562 million in July 2012, according to McGraw Hill Construction.

On a cumulative basis, residential totals increased 22 percent to $4.8 billion year-to-date, up from $4 billion in the same 2012 period.

Future contracts for nonresidential construction, which includes commercial, manufacturing, educational, religious, administrative, recreational, hotel and dormitory reached $235.6 million in July 2013. That number is down about 15 percent from the $276.1 million in nonresidential future construction contracts recorded in July 2012.

The Houston MSA consists of Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris, Liberty, Montgomery, San Jacinto and Waller counties.