The total value of building permits in Canada decreased 14 percent from November to $9.2 billion in December, StatCan reports, the lowest monthly level since October 2020. Declines were recorded in both the residential and non-residential sectors. The value of residential permits fell 17.9 percent to $5.7 billion, driven by a significant decline in multi-unit construction intentions.
Construction intentions in single-family dwellings, however, edged up 0.8 percent to $2.9 billion in December. A 15.3 percent ($84.4 million) gain in Alberta more than offset declines in seven provinces.
