Construction contracts for Florida housing projects soared again in October, as approximately $1.2 billion worth of new residential work moved ahead during the month, according to McGraw-Hill Construction. That figure marked a 46% gain over the residential category’s year-ago estimate, and helped offset declines in other markets to push the state’s overall October total to a 4% gain.
Overall, McGraw-Hill Construction estimated Florida’s October total at just over $1.9 billion. The nonresidential construction category added roughly $416.6 million in new contracts for the month, a 15% decline from a year ago. And the nonbuilding category—which includes infrastructure projects—recorded nearly $322.4 million in new work, a 42% drop compared to last October.