In December 2023, Canada saw a 14% drop in building permits to $9.2 billion, the lowest since October 2020. This decline spanned both residential and non-residential sectors, with a notable 17.9% decrease in residential permits due to a sharp fall in multi-unit construction intentions. Alberta’s single-family dwellings bucked the trend, showing a rise. The non-residential sector also dipped, influenced by a significant drop in Quebec’s institutional permits. Overall, the fourth quarter saw a decrease in permit values, with only single-family dwellings showing a quarterly increase. This trend reflects the impact of rising costs and varying regional construction activities.

Read the full press release by Statistics Canada

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