The value of new building construction contracts procured in San Diego County through April was virtually unchanged from the same month a year ago, according to the latest numbers released by Dodge Data & Analytics.
Dodge, which compiles monthly reports on the industry, reported on Thursday a mix of news for April, with the metropolitan statistical area of San Diego-Carlsbad-San Marcos showing a slight year-over-year gain in new nonresidential contract values, but a roughly equal year-over-year drop in residential contracts. The net result was a 1 percent gain in overall activity for the month.
The slight gain helped to modestly close the deficit shown last month in year-to-date comparisons, but the county is still 48 percent short of where it stood at this time in 2014.
Diving into the numbers, the 6 percent increase in nonresidential activity in April came through $123.97 million in newly procured building construction contracts, compared to about $116.9 million in contracts in April 2014. The slightly bigger 7 percent decline in residential activity didn't outweigh the increase in nonresidential activity because the numbers were based on a smaller 2014 baseline for April of $64.7 million in procured contracts. This April, the county produced $60.19 million in new residential contracts.
Year-to-date, the county has produced about $808.8 million in contracts, including contracts for both residential and nonresidential buildings. By this time in 2014, more than $1.55 billion in contracts had been produced.