A significant improvement in the residential category pushed North Carolina’s February total for new construction contracts to a 24% monthly gain, compared to the same period of a year ago. McGraw-Hill Construction estimated the value of all February contracts at nearly $1.2 billion.
Housing contracts tallied $646.2 million in February, a 69% jump compared to last year. The nonbuilding category, which includes infrastructure projects, eked out a 3% increase for the month with about $218.2 million in new contracts. The nonresidential market fell 14%, however, with its total of $291.2 million.