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New York metro area construction contracts up 55 percent in January

The value of contracts for future construction in the metropolitan area climbed 55 percent in January compared with a year ago on higher residential activity, according to a new report.

Dodge Data & Analytics, an industry information service, reported this week that contracts worth $3.4 billion for all future building were awarded last month in the 23-county region that includes Long Island, up from $2.2 billion in January 2015.

Residential contracts totaled $2 billion in January, a 76 percent increase year over year.

Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, rose 31 percent to $1.4 billion.

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