08/31/2026
🧐 Could Toronto Face a Condo Shortage?
It may sound strange — or even promising — considering how many condos are currently on the market. Buyers have plenty of choice, and many are in no rush.
But at the same time, new condo development has slowed dramatically.
CMHC has warned that today’s sharp decline in condo construction could contribute to a shortage of supply in Toronto in the years ahead.
RBC Economics has pointed to the same interesting situation: there may be plenty of condos available today, while the future supply pipeline continues to shrink.
And the latest Urbanation numbers make this even more interesting:
• The pre-construction and under-construction condo pipeline is down 37% year-over-year.
• There have been no new project launches for two consecutive quarters.
• Since the beginning of 2024, 11,653 condo units have been cancelled.
In other words, what we see in the condo market today may look very different 3–5 years from now.
What do you think? Could Toronto go from having too many condos to not having enough?
And yes… what do you think of the cheerful curtains in the picture? 🙃