HOUSTON-Though the metro region is seeing its fair share of cranes and construction, a recent report prepared by McGraw Hill Construction and released by Greater Houston Partnership points out that in April 2013, approximately $971.2 million contracts were awarded throughout the 10-county region. This compares to the $1.1 billion awarded in April, 2012.

Residential contracts were up 15.7%, while commercial contracts decreased by 47.3% in April 2013, compared to the same month last year. According to the report, the sharp year-over-year decline in commercial contracts can be attributed to a record high of $508.1 million contracts awarded in April 2012, the highest month of commercial contracts in over three years.

The GHP cautions that McGraw Hill construction contract data are subject to revisions. For example, total building contract values for the first four months of 2013 were revised up from the originally reported $3.42 billion to $3.55 billion in its recent report. Similar revisions are likely to take place during the rest of the year.

Source: McGraw Hill Construction