Future-construction home contracts in Md. down 8% in September
Contracts for future residential construction in Maryland for September dropped 8 percent to $226.6 million from $245.3 million when compared with the corresponding period last year, according to statistics from F. W. Dodge, a publisher of construction market reports.
Residential construction includes single- and two-family houses, and apartments.
However, year-to-date construction contract figures are 19 percent higher than in 1999, $2.78 billion vs. $2.34 billion.
News in brief
The Mortgage Bankers Association of America honored the president and chief executive officer of Frederick-based First Nationwide Mortgage Corp., Walter C. "Terry" Klein Jr., for his distinguished service to the real estate finance industry at the 87th annual MBAA convention in San Francisco last week.
The Bozzuto Group, a Greenbelt-based real estate company, was named Environmental Developer of the Year for its project, The Paddocks at Fairhill in Montgomery County, at the annual Maryland National Capital Building Industry Association Environmental Builder and Developer Awards dinner. Bozzuto also won two awards for excellence from the Mid-Atlantic Apartment Industry for projects in Baltimore and White Marsh.