We're seeing a 10% year-over-year dip in Toronto housing starts—a sign that construction activity has moderated in the city's urban core during this period. Currently, there are 37 building permits associated with 6,600 condominium apartment units in Toronto, where construction hasn't yet begun. Many of these projects may still move forward since their pre-sales likely took place before the recent slowdown in sales activity. It's important to remember that housing-start data often lags behind market realities. Large-scale developments in Toronto pass through planning, pre-sale, permitting, and only then actual construction before they're reflected in the numbers. As someone who closely follows the GTA market from my base in Brampton, I know this means the current housing start figures may not fully capture the pipeline of new homes coming up. As these permitted condo projects advance, we could see more groundbreakings in the near future.
