News Article

March Contracts for Future Construction in Baltimore Jump 75 Percent


(4/27/2010) March contracts for future commercial construction in the Baltimore-Towson Metropolitan statistical area jumped 75 percent when compared to the same month in 2009, according to McGraw-Hill Construction.

Non-residential construction contracts tracked by McGraw-Hill's Research and Analytics unit totaled $96.4M in March, up from just under $55M in March 2009. Cumulative first quarter commmercial construction numbers, however, were down two percent, going from $315.2M in 2009 to $308.4M in 2010.

Residential construction contracts in the first quarter were up 11 percent from 2009, reaching nearly $160M in the first three months as compared to $144M in 2009.

McGraw Hill defines commercial real estate construction as commercial, manufacturing, educational, religious, administrative, recreational, hotel, dormitory and other non-residential buildings.

The metropolitan statistical area measured included Baltimore-Towson, which consists of Anne Arundel, Baltimore, Carroll, Harford, Howard and Queen Annes in Maryland.

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Link to the article: March Contracts for Future Construction in Baltimore Jump 75 Percent

Source: Citybiz Real Estate