Housing permits remain above $5 billion despite slip

The value of residential building permits fell 1.5 per cent in February from the previous month but remained just above the $5 billion mark for a second consecutive month.

Statistics Canada says that the dip was due to lower intentions for single-family homes (down 5.4 per cent to $2.6 billion) while the value of permits issued for multi-family construction increased (up 3 per cent to $2.4 billion).

The drop for single-family home permits was due to Ontario while the other six provinces posted larger demand. For multi-family homes, the increase was led by British Columbia and Alberta.

Non-residential construction permits were down 4.5 per cent in February from the previous month with institutional intentions leading the decline with a drop of 16.2 per cent.

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