The stats show that it was the single-family homes sector that dragged the overall figure down; dropping 7.2 per cent to $2.3 billion following three consecutive monthly gains. Ontario led the decline in this sector followed by New Brunswick and British Columbia.
Conversely, the intentions for multi-family homes gained 7.1 per cent to $2.0 billion, following a 5.8 per cent drop in April. Ontario, which has seen a 19 per cent decline in this sector in April, led May’s rise and was followed by Quebec and Nova Scotia. Alberta saw the largest decline in multi-family intentions following a 96.4 per cent increase in April.
Non-residential permits totalled $1.2 billion, down 15.6 per cent, with Quebec, Ontario and Manitoba leading the declines. The drop was largely the result of lower construction intentions for office buildings, recreational facilities and distribution warehouses.
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The value of residential building permits issued in May was down 1.1 per cent to $4.3 billion following a 0.9 per cent drop in April. Statistics Canada says that the decline was led by Alberta but five other provinces also saw lower homebuilding intentions.