State Residential Construction Contracts Lowest of Decade / $69.8 Million in January

Article excerpt

Total residential construction contracts for the entire state dropped 19 percent to $69.8 million last month, the lo west figure for a January so far this decade, according to F.W. Dodge Local Construction Potentials report released Thursday.

Residential contracts for central Oklahoma, meanwhile, totaled $27.8 million, the lowest amount for a January in four years.

Compared to figures for all the Januarys so far this decade, housing contracts hit their peak for the state in 1983 at $171.1 million - a figure slightly less than the total state construction figure reported for January 1986.

Last month's residential construction was 59.2 percent below that January 1983 figure. The state housing contract figure totaled $86.2 million in January 1985.

Compared to past Januarys in this decade, last month's state residential contracts were:

- 41.7 percent below the $119.8 million reported in January 1984.

- 20.2 percent below the $87.5 million in January 1982.

- 7.3 percent below the $75.3 million in January 1981.

- 5.8 percent below the $74.1 million in January 1980.

Although last month's residential contracts were down compared to the same month in past years, the January figure was at least 2.6 percent higher than the $68 million in statewide housing contracts reported by Dodge in December.

Central Oklahoma's residential contracts were at there lowest point for a January since 1982, when only $21.1 million in contracts were reported - a difference of 31.8 percent.

Compared to recent Januarys, last month's figures were down by:

- 29.3 percent from the $39.3 million in January 1985.

- 63.8 percent from the $76.9 million in January 1984.

- 55.2 percent from the $62.1 million in January 1983.

Last month's figure was also a decline of 20. …