The value of future construction contracts in Massachusetts is up 13 percent year over year through July according to a new study by McGraw-Hill Construction.
Residential construction contracts were up 27 percent to $1.71 billion from $1.34 billion at this time last year, and non-building contracts (such as roads, bridges and other infrastructure) were up 31 percent, rising to $1.4 billion from $1.07 billion. However, non-residential buildings were flat at $3 billion for this year and last, bringing the overall increase to 13 percent.
McGraw-Hill also separately examined the metropolitan statistical area of Boston-Cambridge-Quincy, which stretches from the North Shore to Plymouth. Non-residential buildings were down slightly in the Boston-Cambridge-Quincy metro, dropping 2 percent to $2.27 billion through July 2012 verses $2.31 billion at the same time last year. Residential building was up 20 percent in the same time period, however, rising to $1.27 billion from $1.06 billion, resulting in a net increase of 5 percent.





