McGraw-Hill Construction, publisher of Southeast Construction, reported that the value of new Florida contracts signed in January for future construction rose by 9% overall, compared to the same period of a year ago. The total of all new contracts was nearly $2.5 billion.
The residential category showed the most improvement from the year-ago period, jumping 32% and totaling $677.6 million for the month. The value of nonbuilding, or infrastructure, contracts increased by 13% compared to last January for the largest monthly total, $932.9 million. Nonresidential starts fell 8%, however, to total $856.4 million.