2013: a healthy year for residential construction in New Hampshire
Future contracts up 40 percent for the year
Residential building concluded its run as the strongest sector in New Hampshire’s construction industry in 2013, with yet another healthy increase in the number of contracts for pending construction recorded in December.
According to data released by industry information service McGraw Hill Construction, the value of pending residential construction contracts in December 2013 totaled $54.5 million, a 55 percent increase from the $35.1 million recorded a year earlier.
For the year, residential contracts totaled $662.2 million, up 41 percent from 2012.
While the weakest sector by far in 2013 was nonbuilding -- roads, bridges and other infrastructure, December was a bright spot, with $48.8 million in contracts recorded for the month, 129 percent more than the $21.3 million recorded in December 2012.
But on an annual basis, the story was far different. Nonbuilding contracts recorded in 2013 totaled $377.7 million -- 40 percent less than the $633 million recorded in 2012.
While not as weak, but still disappointing, the nonresidential sector closed out 20123 with a 47 percent drop in pending contracts in December, falling to $16 million from the $30 million recorded in December 2012.
For the entire year, nonresidential contracts totaled $460.3 million, 1 percent less than the $466.5 million recorded in 2012.