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Area Residential Construction Contracts Dip / Down 44%, Says Dodge Report

By Tipton, David | THE JOURNAL RECORD, November 26, 1985 | Go to article overview

Area Residential Construction Contracts Dip / Down 44%, Says Dodge Report


Tipton, David, THE JOURNAL RECORD


Residential construction in central Oklahoma was down 44 percent during the month of October compared to September's figures , according to the F.W. Dodge Local Construction Potentials report.

Construction contracts fell from $55.8 million in September - the highest amount since March of this year - to $31.2 million in October.

Residential construction has been going through a sort of "roller coster" effect each month for the past few months.

For example, the contract totals for October are higher than those reported for August, $30.9 million, but lower than that for July, $48 million.

There has not been a monthly trend in the amount of construction contracts in 1985 for residential construction in the central part of the state.

Counties included in the report for central Oklahoma are Canadian, Cleveland, Grady, Kingfisher, Lincoln, McClain, Oklahoma, Payne and Pottawatomie.

The October 1985 figure was also a 46.9 percent drop from the $58.8 million in contracts reported in October 1984.

Comparisons on the figures for statewide housing construction were a little better than those for central Oklahoma, but they were still low compared to last year's figures.

Statewide, residential construction contracts totaled $70 million, a 25.9 percent decline from $94.5 million in September.

That was the first drop on a month-to-month basis since construction went from $37.2 million in May to $34.3 million in June.

The $70 million figure for statewide housing construction in October was also 39.5 percent below the $115.7 million in construction contracts reported in October 1984.

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