CaDCR staff writer
The value of building permits issued across Canada fell 12 per cent in May.
According to Statistics Canada, municipalities across the country issued permits worth $11.7 billion last month, down from $13.4 billion in April.
The decline was in British Columbia was more than 50 per cent, after a record-breaking month in April.
Residential building permits were down 16.3 per cent nationally, to $7.1 billion with B.C. recording a 53.7 per cent cut.
In comparison, residential construction in all other provinces and territories fell 3.8 per cent in May with Ontario dropping by 7.9 per cent to $261.2 million) and Alberta totals down 10.9 per cent to $122.4 million.
Municipalities issued 22,700 dwelling unit permits for construction across Canada. In the past year, the number issued is 267,600.
The value of non-residential permits issued in May dropped 5 per cent in May and there were also declines in the institutional (-18.0%; -$236.4 million) and commercial sectors (-7.4%; -$194.1 million)