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Canada building permits decline for 3rd consecutive month in April

Canadian building permits declined for the third consecutive month in April as construction intentions for single-family dwellings decreased during the month.

The total value of building permits issued by Canadian municipalities decreased 0.2% to about C$7.06 billion in April from approximately C$7.07 billion in March, according to Statistics Canada.

Residential building permits declined 2.5% to C$4.47 billion in the month from C$4.59 billion in the previous month as the decline in construction intentions for single-family dwellings more than offset a moderate gain in the multifamily component.

Permits for single-family dwellings were down 8.1% to C$2.49 billion in the month. Construction intentions for multifamily dwellings increased 5.6% in April to C$1.98 billion after decreasing by 21.1% in March.

Building permits for nonresidential structures were up 4.1% to C$2.58 billion in April from C$2.48 billion in the previous month as construction intentions for institutional and industrial structures rose for the second consecutive month.

The total value of building permits declined in four provinces in April, led by a decline of 10.8% in Alberta and a 7.6% decrease in Ontario. The declines were moderated by an increase in British Columbia, which reported an increase in every building component in the month.