Investment in building construction declined 2.6% to $17.5 billion in July. The residential sector decreased 4.1% to $11.5 billion, while the non-residential sector was up 0.5% to $5.9 billion.
On a constant dollar basis (2012=100), investment in building construction decreased by 2.5% to $10.0 billion.
Chart 1 
Investment in building construction, seasonally adjusted
Residential investment declines for the fifth straight month
Investment in residential building construction fell 4.1% to $11.5 billion in July, with declines seen in eight provinces.
Single-family home construction investment declined 5.5% to $5.8 billion, the lowest level since August 2020, with Ontario accounting for most of the fall.
Multi-unit construction investment was down 2.8% to $5.7 billion in July 2023, the ninth consecutive monthly decrease.
Infographic 1
Investment in residential building construction, July 2023
Chart 2
Investment in residential building construction, seasonally adjusted
Institutional investment leads to growth in the non-residential sector
Investment in non-residential construction was up slightly, increasing 0.5% to $5.9 billion in July. Notable gains in British Columbia, Alberta and Saskatchewan offset six provinces’ decline.
After two consecutive monthly decreases, investment in the industrial component increased 0.6% to $1.2 billion, while commercial investment edged up 0.3% to $3.3 billion.
Institutional construction investment rose by 1.2% to $1.5 billion. A new hospital project in Dawson Creek contributed to notable gains in British Columbia.
Infographic 2
Investment in non-residential building construction, July 2023
Note to readers
Data are subject to revisions based on late responses, methodological changes and classification updates. Unadjusted data have been revised from January 2019 and seasonally adjusted data have been revised from January 2016.
Data presented in this release are seasonally adjusted with current dollar values unless otherwise stated. Using seasonally adjusted data allows month-to-month and quarter-to-quarter comparisons by removing the effects of seasonal variations.
Monthly estimates in constant dollars are calculated using quarterly deflators from the Building Construction Price Index (table 18-10-0135-01). Typically, the first two months of a quarter use the previous quarter’s price level, and the data are revised when the new quarterly price index becomes available.
Detailed data on investment activity by building type and work type are now available in the unadjusted current dollar series.
The trade and services subcomponent includes buildings such as retail and wholesale outlets, retail complexes, and motor vehicle showrooms.
