NORTH TEXAS - North Texas commercial construction contracts plummeted in March, falling 44 percent from a year ago, according to the latest McGraw-Hill Construction report.
Contracts for future construction totaled $251 million, down from $446.9 million in March 2012.
But residential contracts totaled $652.1 million, up 11 percent from a year ago. The housing market locally and nationwide has been rebounding for several months.
Statewide, commercial construction contracts in March totaled $1.1 billion, down 2 percent from March 2012. Residential contracts totaled $2.2 billion, up 18 percent.
Read more at the Fort Worth Star-Telegram.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.