Canadian Building Permits Weaken in December

In December 2023, Canadian building permits were down 14.0% to $9.2 billion (CAD) from November and fell 14.5% from the comparable period in 2022. Residential authorizations decreased 17.9% from November and 15.6% from December 2022 to $5.7 billion. Single-family totals reached $2.9 billion, increasing 0.8% from November and were 1.2% higher than the prior year. Multi-family levels were $2.8 billion in December, dropping 31.1% from November and 28.0% from the previous year. Non-residential permits declined 7.0% from the prior month and 12.5% from December 2022 to $3.6 billion. See Statistics Canada

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