The total value of building permits in Canada rose 12.0% month-over-month to $13.1 billion in May 2025, after a downwardly revised 6.8% drop in April and far exceeded market expectations of a 0.8% drop. Residential intentions rose $169.8 million to $7.5 billion, mainly due to a sharp increase in multi-family permits (+$687.7 million), driven by Vancouver CMA (+$696.4 million). Single-family permits edged down (-$25 million), led by Ontario (-$77.5 million), partially offset by gains in seven provinces and two territories. Meanwhile, non-residential permits rose $1.2 billion to $5.6 billion, driven by Ontario's institutional component (+$1.3 billion), led by a new hospital project in Niagara CMA. Commercial permits rose $87.8 million, led by gains in Quebec (+$59.1 million), despite declines in Ontario (-$71.9 million). These changes partially offset a drop in the industrial sector (-$117.2 million), particularly in Quebec (-$50.8 million). Year-over-year, total permits increased 5.1%.