South Carolina New Construction Contracts Up 35 Percent

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South Carolina contractors experienced a 35 percent gain in the volume of new construction contracts in January, according to McGraw-Hill Construction. Whether these increases foretell a coming recovery for the region’s building markets, only time will tell. But the size and pervasiveness of the improvements were certainly worth noting.

South Carolina’s nonresidential construction contracts were, up 85% to $169.5 million; residential, up 27% to $327.7 million; and nonbuilding, down 10% to $49.3 million.

Those improving nonresidential numbers reflected a surge in some of the Carolinas major metros. Of course, it’s too early to tell if this is a long-term trend and a sign of what’s to come in 2013. Read More