Construction contracts rise in North Texas

NORTH TEXAS – Contracts for future commercial and residential construction recorded in February 2013 increased in the 12-county North Texas region, according to McGraw-Hill Construction.

For the month, $264.7 million worth of commercial construction activity was recorded, a 60 percent jump from February 2012, when $165.4 million in contracts were recorded.

Also, $533.1 million in contracts for residential construction were recorded in February 2013, a 14 percent increase from $466.5 million for February 2012.

For the first two months of 2013, the value of North Texas commercial construction contracts increased by 35 percent, to $515 million, while residential contracts were up 10 percent, to $1 billion.

Statewide, nonresidential contracts were down 3 percent to $827.1 million from the prior year. Residential contracts were up 10 percent to $1.8 billion in February.

Year-to-date, nonresidential contracts remained flat, and residential contracts statewide were up 13 percent to $3.7 billion from the same period of 2012.