- Prior was +3.4% (revised to +4.3%)
- Sept permit value $11.2B
- Residential permits +4.3% m/m
- Non-residential -21.0%
- Permits up 3.4% in Q3
There is a crunch coming for Canadian real estate and rumors are swirling about the demise of a prominent developer but there is a long lag at work before it hits construction. It's coming but it's not here yet.
The story in this month's data is that August institutional construction was at a record with several large projects worth a total of $2.1 billion and that has run off.