May Canadian Building Permits Weaken

Canadian building permits in May climbed 10.5% from April but fell 13.5% from the comparable period in 2022 to $10.5 billion (CAD). Residential authorizations increased 8.5% from April but dropped 14.7% from May 2022 to $6.8 billion. Single-family totals reached $2.44 billion, down 1.3% from April and plunging 36.5% from the prior year. Multi-family levels sank 15% from April to $4.4 billion and declined 5.6% from the previous year.

Non-residential permits soared 14.2% from April to $3.7 billion but decreased 11.2% from May 2022. See Statistics Canada

Scroll to Top