Canadian Building Permits Increase 14.1% in Total Value in November

Statistics Canada (StatCan) reported today (1-9-23) that the total value of building permits in Canada jumped 14.1% in November to $11.0 billion (CAD), ending two consecutive months of declines. On a constant dollar basis (2012=100), the total value of building permits rose 12.3% to $6.5 billion.

The value of residential permits rose 13.7% to $7.1 billion in November. The multi-family dwelling component was up 19.0%. The single-family dwelling component increased 7.1%, following a string of four consecutive monthly declines.

In the non-residential sector, the total value of permits increased 14.9% to $3.9 billion. The value of permits in the institutional components moved 49.6% higher in November. The value of building permits in the industrial sector rose 32.4% (on the heels of significant gains in October). Construction intentions in the commercial components declined 0.6%.

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