Construction activity in South Florida reaches $7.5B in 2015

Posted on 29 Oct 2015 in Miami What's New | 1 comment

ConstructionConstruction spending year to date in South Florida increased by 19 percent, or $1.2 billion, compared the same period a year ago, according to a report released Thursday.

The amount of construction contracts awarded this year through September was $7.5 billion in Miami-Dade, Broward and Palm Beach counties. In 2014, it was $6.3 billion.

Despite the year-over-year increase, residential contracts decreased by 67 percent in September, compared to September 2014, according to a report by Dodge Data & Analytics. In September 2014, residential contracts reached $952 billion; in the same month this year, they fell to $312 billion.

Nonresidential spending was up 25 percent month-t0-month, from $178 billion in September 2014 to $222 billion in September 2015, the report said. The huge decrease in residential contracts resulted in a 53 percent drop in month-to-month activity in both residential and commercial.

Some South Florida developers have slowed their accumulation of property as land prices and construction costs rise.

www.therealdeal.com

One comment

  1. Jacki / February 28th, 2017 9:15

    ok I seen the video & u mean to tell me if I open a paypal account & happened to have 2 emlïasi»¿ that I can send myself free money when ever i need it? does the money goes to a bank account ? if im wrong sumone please correct what Im hearing! lol

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