June Building Permits Soften in Canada

Canadian building permits in June were down 13.9% from May to $9.9 billion (CAD) and declined 21.6% from the comparable period in 2023. Residential authorizations decreased 11.5% from May and 13.8% from June 2023 to $6.5 billion. Single-family totals reached $2.6 billion, increasing 4.0% from last month but dipping 0.6% from June 2023. Multi-family levels were $3.8 billion in June, falling 19.8% from May and 21.1% from the same month last year. Non-residential permits dropped 18.1% from the prior month and 32.8% from June 2023 to $3.5 billion. See Statistics Canada