Toronto housing starts are down 10% compared to last year, which points to a slowdown in construction across our city’s larger urban market. Right now, there are 37 building permits in Toronto tied to about 6,600 condominium apartment units—these are approved, but construction hasn’t begun yet. Some of these projects may still progress, since many pre-sales were completed long before the recent dip in sales activity. It’s important to remember that housing-start data can lag behind what’s really happening, as major Toronto developments move through planning and pre-sales, then permits, before actual building begins. So, the current figures may understate the real level of activity, with more condo units poised to break ground as the pipeline continues to move forward. In my experience navigating Ontario’s residential condo and housing market, understanding these cycles—and what’s truly in the pipeline—can make all the difference when making informed decisions.
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