Multi-Unit Component Leads Residential Construction Investment Decline in April

June 23, 2025

The total value of investment in building construction decreased by $741.9 million to $22.3 billion in April. Investment in the residential sector decreased 4.5%, while the non-residential sector edged down 0.3%.

On a constant dollar basis (2023=100), the total value of investment in building construction in April decreased 3.3% from the previous month and was up 5.6% on a year-over-year basis.

Multi-unit component leads residential construction decline

Investment in residential building construction declined by $723.0 million to $15.5 billion in April. This decrease was primarily driven by the multi-unit component (-$441.1 million to $8.7 billion), with smaller losses in the single-family component (-$281.9 million to $6.8 billion).

In April, Ontario (-$410.3 million) led the national decrease in the multi-unit component, with declines recorded in six provinces and all the territories. Meanwhile, British Columbia (+$69.3 million) led the increases in the remaining provinces.

Ontario (-$181.0 million) and Alberta (-$121.4 million) led the national decline in single-family home construction in April.

Non-residential investment declines slightly

The value of non-residential investment in building construction edged down by $18.9 million to $6.8 billion in April. Decreases in the commercial (-1.0%) and industrial (-0.8%) components were mitigated by gains in the institutional component (+1.3%).

The commercial sector declined by $33.6 million to $3.3 billion in April. Decreases were recorded in seven provinces and two territories, led by Ontario (-$23.2 million).

Investment in the industrial sector decreased $11.1 million to $1.4 billion in April. Quebec (-$6.1 million) led the decline.

Meanwhile, the institutional component grew by $25.8 million to $2.1 billion. Gains were observed in seven provinces and two territories, led by Alberta (+$13.1 million). Quebec (-$12.7 million) led the decreases observed in the remaining provinces and territory.

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