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

Canadian building permits in March rose 11.3% from February to $11.8 billion (CAD) but were 1% lower than the comparable month in 2022. Residential authorizations decreased 0.9% from February and 18.1% from March 2022 to $6.6 billion. Single-family totals reached $2.6 billion, down 4.3% from February and dropping 29% from the prior year. Multi-family levels improved 1.5% from February to $4 billion but fell 9.3% from the previous year. See Statistics Canada