The value of contracts for future construction in the metropolitan area rose in August from a year earlier, reversing four consecutive months of year-over-year declines, according to a new report.
Dodge Data & Analytics, an industry information service, reported this week that contracts worth $2.8 billion for all future building were awarded in August in the 23-county region that includes Long Island, up from $2.7 billion, or 1 percent, in August 2015.
Nonresidential contracts for commercial properties such as offices, hotels, factories and warehouses, totaled $1.4 billion in August, a 10 percent gain year over year.
Residential contracts fell 6 percent to $1.4 billion.
The value of building contracts in the metro area declined year over year in April, May, June and July.