February Building Permits Strengthen in Canada

In February, Canadian building permits totaled $13.1 billion (CAD), increasing 2.9% from January and 7.7% from the comparable month last year. Residential authorizations decreased 2.9% from the prior month but rose 15.4% to $8.4 billion year-over-year. Single-family permits totaled $3.0 billion, dipping 0.8% from January but 6.0% higher than February 2024. Multi-family levels were $5.5 billion in February, slipping 4.0% from January but surging 21.2% from the same month in 2024. Non-residential permits grew 15.3% from the prior month but down 3.9% from February 2024 to $4.7 billion. See Statistics Canada