A 70% surge in new residential projects overcame downturns in the other sectors to boost the overall value of Florida’s May construction contracts to nearly $2.2 billion, according to McGraw-Hill Construction. The total was a 19% improvement over the same period of a year ago.
For the month of May, McGraw-Hill recorded just over $1.3 billion in new residential construction contracts, a 70% gain compared to the $771.5-million total of May 2011.