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

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

The GHP cautions that McGraw Hill construction contract data aresubject to revisions. For example, total building contract valuesfor the first four months of 2013 were revised up from theoriginally reported $3.42 billion to $3.55 billion in its recentreport. Similar revisions are likely to take place during the restof the year.

Metro Houston Construction Contracts

April 2013 vs. April 2012

April 2013

April 2012

% Change

Nonresidential

$267.7 million

$508 million

-47.3%

Residential

$703.4 million

$608 million

15.7%

Total Building

$971.2 million

$1.1 billion

-13%

Source: McGraw Hill Construction

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