What happened: Greater Vancouver municipalities issued $800 million in building permits this February.
Why it matters: That figure, which signals builders’ construction intentions, was down 20.5% over January.
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After three consecutive months of more than $1 billion in building permits issued, the value of green-lit permits in Greater Vancouver fell by 20.5%.
Statistics Canada said municipalities in the region issued $800 million in permits this February. It’s a 43% drop over December, when Greater Vancouver issued $1.4 billion in permits – the equivalent of the total value of permits issued in British Columbia two months ago.