The value of contracts for future construction in the metropolitan area climbed 66 percent in December compared with a year ago on higher residential activity, according to a new report.
Dodge Data & Analytics, an industry information service, reported Thursday that contracts worth $4.2 billion for all future building were awarded last month in the 23-county region that includes Long Island, up from $2.5 billion in December 2014.
Residential contracts totaled $3.1 billion in December, a 106 percent increase year over year.
Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, rose 10 percent to $1.1 billion.
For the year, the value of contracts in metro New York totaled $46.6 billion, a gain of 44 percent over 2014.
Residential contracts were up 41 percent to $24.8 billion, year over year. Nonresidential contracts increased 48 percent to $21.7 billion.