July Canadian Building Permits Improve Year-over-Year

Canadian building permits in July decreased 1.5% from June but rose 4.4% from the comparable period in 2022 to $11.7 billion (CAD). Residential authorizations increased 5.4% from June but dipped 0.8% from July 2022 to $7.4 billion.  Single-family totals reached $2.8 billion, up 7.6% from June but down 20.4% from last year. Multi-family levels were $4.6 billion in July, 4.1% higher than June and improved 16.5% from the previous year. Non-residential permits dropped 11.5% from the prior month to $4.3 billion but grew 16.7% from July 2022. See Statistics Canada