Canadian building permit values rose 4.8% to $13.3 billion in January, driven mainly by non-residential permits, which increased 9.4% to $5.4 billion. However, inflation-adjusted values remain below pre-2023 levels. Residential permits rose 1.8% but fell 9.4% year-over-year, with a shift from multi-family to single-family units due to condo oversupply. Most non-residential growth is government-funded, highlighting reliance on public spending rather than private investment.