Canada building permits
- Prior was -11.7%
- Residential +21.0% vs -8.3% prior
- Non-residential +19.6% vs -16.7% prior
- Total permit value at $12.8% billion
On a constant-dollar basis, permits are at the highest since June 2023.
British Columbia rose 75.2% and posted a record high monthly total value of building permits ($3.1 billion), leading the monthly increases in both residential and non-residential sectors in Canada. These numbers are lumpy and it's tough to tell what is the signal and what is the noise but the condo market in Toronto is definitely under pressure with listings surging.