StatsCan: Lower intentions for residential

Contractors took out $2.3 billion worth of building permits for single-family dwellings in February, down 6.7% from January and the second consecutive monthly decline. Ontario posted the largest decline in single-family permits; however, five provinces recorded gains.

Construction intentions for multi-family dwellings fell 3.3% to $1.6 billion in February. The decrease was attributable to lower construction intentions in five provinces, mainly Ontario. Quebec posted the largest gain, followed by Alberta.

Canadian municipalities approved the construction of 17,259 new dwellings in February, down 2.0% from January. The decrease was attributable to single-family dwellings, which declined 6.9% to 6,922 units. Multi-family dwellings, however, rose 1.6% to 10,337 units. More info from Stats Can on permits in February.