Construction in Southwest metro regions up 11.3%
The BidClerk Construction Index (BCI) registered an 11.3% year-over-year increase in construction activity for major-metro regions in the Southwest U.S.
There was a vast disparity in the rate of progress depending on the type of construction, however; the uptick rides entirely on the shoulders of the public sector. Private construction was down 6.3%, while public construction increased 23.9%.
There is also great geographic disparity within the region itself. Combined public and private projects that were actively bidding in Phoenix were down 6.2%, while those in Las Vegas increased 22.6% and those in Albuquerque were up by as much as 50%.
The metros in question include Phoenix-Mesa-Glendale, Prescott, Tucson, Yuma, Las Vegas-Paradise, Reno-Sparks, Albuquerque and Santa Fe.
The total value of all projects in the region (of those bidding in the third quarter of 2013) was $1.6 billion, down from Q2's $2 billion total contract value. According to the organization, this reflects seasonal trends.