Contracts for future construction in South Florida up 38% in July

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Miami Herald reports that contracts for future construction in south Florida rose 38% in July to $597.3 million from $431.3 million a year earlier, according to McGraw Hill Construction.

McGraw Hill said that new residential construction contracts rose 52% in July to $352.2 million from $232 million a year earlier for the metropolitan area encompassing Miami-Dade, Broward, and Palm Beach counties.

Nonresidential construction permits were up 23% to $245 million in July from $199.3 million a year earlier, the company said.

For January through July, new construction contracts totaled $3.70 billion, up 24% $2.98 billion in the year-ago period.

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