Future construction contracts up in July

While once again July contracts for future residential and nonresidential construction in New Hampshire dropped were below the amount reported in July 2006, there was a sizable increase in the total value of nonbuilding projects.

According to McGraw Hill Construction of Lexington, Mass., contracts for future residential construction fell 20 percent to $92 million in July 2007, compared to $114.9 million in July 2006.

Contracts for future nonresidential construction decreased by 7 percent, falling to $69.5 million in July 2007, compared to the $74.4 million reported in July 2006.

McGraw Hill reported that contracts for future nonbuilding construction – including such projects as streets, highways and bridges – increased by more than 350 percent to 128.1 million in Ju1y 2007, compared to $28 million in July 2006.

Total future construction contracts for July 2007 increased by 33 percent to $289.5 million compared to $243.3 million reported for July 2006.

Year-to-date future nonresidential construction contracts through July 2007 were $420.1 million, or 12 percent lower than the $479.2 million reported for the same period last year.

Year-to-date future residential contracts totaled $587.3 million, or 11 percent below last year’s numbers of $656.4 million.

Future nonbuilding construction contracts of $321.2 million up to July 2007 were 30 percent higher than the $247.2 reported for the same time period last year.

In total, all future construction contracts through July 2007 were $1.3 billion, or 4 percent below the $1.4 billion reported through July 2006. – TRACIE STONE