HOUSTON (Houston Business Journal) – Construction may be slowing slightly in Texas, but crews are hard at work in Houston.
The total contract value for all construction projects in the Houston-Baytown-Sugar Land metropolitan area was up 7 percent in June over the same month in 2011. The lion’s share of construction was residential, jumping 28 percent in June to nearly $553 million.
On the other hand, nonresidential construction in Houston fell 17 percent to $318.96 million, according to data from McGraw-Hill Construction.
Total month-over-month contract value across Texas fell 9 percent in June . Non-building construction, which includes streets, highways, bridges, dams and reservoirs, fell 41 percent. Nonresidential construction dropped 19 percent. Like Houston, however, residential construction rose in June, up 25 percent to over $11 billion.
During the first half of the year, Houston had a 15 percent increase in construction contract value while contract value is down 7 percent statewide.