McGraw-Hill Construction reported an overall decline in December and year-to-date contracts for future construction in the metropolitan statistical area (MSA) of San Diego-Carlsbad-San Marcos.
The report showed a 64 percent decline in December 2012 to $40.1 million for nonresidential construction from $111.4 million in 2011. However, residential construction over the same period rose 41 percent to $108.9 million from $77.5 million. For December, total building dropped 21 percent to $149.02 million from $188.9 million.
For the year-to-date, nonresidential contracts for future construction in the San Diego-Carlsbad-San Marcos MSA dropped 29 percent to $1.78 billion in 2012 from $2.5 billion in 2011.
Residential, however, rose 8 percent to $1.11 billion from $1.03 billion. The total 2012 building picture was an 18 percent drop to $2.89 billion in 2012 from $3.53 billion the previous year.