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Talking Points
In February, Canada saw a decline in the total value of building permits issued, dropping by $1.1 billion (8.4 percent) to $12.1 billion. The non-residential sector led this decrease, falling by $1.3 billion, while the residential sector experienced a modest increase of $135.6 million.
Residential construction intentions rose to $8.1 billion, primarily driven by a $180.3 million increase in the multi-unit component. Ontario contributed significantly to this rise, with an increase of $320.6 million, while British Columbia also saw gains. However, declines in Quebec, Nova Scotia, and Alberta moderated the overall growth.
- Total building permits decreased 8.6 percent from January and 11.5 percent year-over-year.
- 21,000 multi-unit and 3,900 single-family dwellings were authorized in February.
- Multi-family dwelling authorizations increased to 255,500 over the past year.
This decline in building permits highlights shifting construction trends and may impact housing availability and economic growth across Canada.
In February, the total value of building permits issued in Canada decreased by $1.1 billion (down 8.4 percent) to reach $12.1 billion. The decline in construction intentions was led by the non-residential sector (down $1.3 billion) and tempered by the residential sector (up $135.6 million). The total value of building permits issued in February decreased 8.6 percent from the previous month and was down 11.5 percent on a year-over-year basis.
Multi-unit component leads residential increase
Residential construction intentions rose $135.6 million to $8.1 billion in February. The increase in the multi-unit component (up $180.3 million to $5.4 billion) was partially offset by a decline in the single-family component (down $44.7 million to $2.7 billion). The rise in the multi-unit component in February was driven by Ontario (up $320.6 million) and was supported by British Columbia (up $217.6 million). Declines in Quebec (down $188.1 million), Nova Scotia (down $112.3 million) and Alberta (down $95.2 million) moderated the gain. British Columbia (down $52.8 million) led the decrease in the single-family component in February, and an additional decline was recorded in Ontario (down $28.4 million). Meanwhile, Alberta (up $28.9 million) tempered these losses. Nationwide, a total of 21,000 multi-unit dwellings and 3,900 single-family dwellings were authorized for construction in February, representing a 0.8 percent decrease from the previous month. From March 2025 to February 2026, the total number of multi-family dwellings authorized was 255,500, up from 244,600 during the previous 12-month period.