February Canadian Building Permits Up Month-over-Month; Dip Year-over-Year

Canadian building permits in February rose 8.6% from January to $10.7 billion (CAD) but were 15.2% lower than the comparable month in 2022. Residential authorizations increased 7.9% from January to $6.6 billion, decreasing14.3% from February 2022. Single-family totals reached $2.7 billion, up 0.5% from January but dropping 24.2% from the prior year. Multi-family levels improved 13.6% from January to $3.9 billion but fell 5.8% from the previous year. See Statistics Canada