Houston construction contracts July 2012
HOUSTON – Contracts for future residential construction grew 12.9 percent July 2012 compared to July 2011, while nonresidential contracts fell 37.7 percent and total construction fell 8.3 percent.
McGraw Hill has revised residential and non-residential construction substantially upward for July ’11. As a result, construction activity last year was actually $123.0 million better than originally reported, as can be seen in the table below
Year to date, more than $5.9 billion in total contracts were awarded, up 12 percent from the more than $5.2 billion awarded year to date as of July 2011.
Residential contracts totaled $3.9 billion from January 2012 through July 2012, up 31.4 percent from $2.9 billion from January 2011 through July 2011. Commercial contracts totaled $2 billion for the same period, down 12.5 percent from $2.2 billion from January 2011 to July 2011.
Houston could potentially record $9 billion in construction by the end of the year. If that proves to be the case, it would be the fifth best year since 2001.
Residential includes single-family homes, duplexes and apartments.
| July 2012 | July 2011* | Change | |
| Nonresidential | 210,532,000 | 337,996,000 | -37.7% |
| Residential | 530,587,000 | 470,064,000 | 12.9% |
| Total building | 741,119,000 | 808,060,000 | -8.3% |
*Revisions to Metro Construction Contracts* for July ’11
Source: McGraw-Hill Construction
Read more at the Greater Houston Partnership.
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