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Canada April building permits +20.5% vs +2.2% expected

Prior was -11.7%Residential +21.0% vs -8.3% priorNon-residential +19.6% vs -16.7% priorTotal permit value at $12.8% billion

On a constant-dollar basis, permits are at the highest since June 2023.

British Columbia rose 75.2% and posted a record high monthly total value of building
permits ($3.1 billion), leading the monthly increases in both
residential and non-residential sectors in Canada. These numbers are lumpy and it’s tough to tell what is the signal and what is the noise but the condo market in Toronto is definitely under pressure with listings surging.

This article was written by Adam Button at www.forexlive.com.

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