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MARVIN ARRIETA's Blog

By Marvin Arrieta | Broker in Miami, FL

Miami metro area construction contracts up 73 percent: report

Miami metro area construction contracts up 73 percent: report

December 20, 2012 12:45PM

A crane at Chateau Beach in Sunny Isles

Contracts for future construction in South Florida are up 73 percent for the year to date through November, compared to the same period in 2011, according to a report from McGraw Hill Construction. Building contracts totaled $5.4 billion at the end of November, up from $3.12 billion at the end of November 2011. Residential contracts have seen the biggest increase, with a 93 percent improvement to $3 billion during the time frame. Nonresidential contracts are up 53 percent to $2.4 billion. McGraw-Hill’s report covers the metropolitan area of Miami Fort Lauderdale and Miami Beach. — Alexander Britell

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