REAL ESTATE

Building Activity Up: The value of construction contracts let in Orange County in January rose 14% compared to a year ago, McGraw-Hill Inc. reported recently.

Home construction led the increase, up 53% from a year ago, to $126 million in January from $82 million a year earlier.

Nonresidential construction--offices, shops, schools and the like--fell 16% to $93 million from $110 million in January, 1989.

Together, construction activity rose to $219 million from last year’s $193 million.