Toronto’s Condo Market Set A New Record: ZERO New Projects Launched

About this video

In this April 2026 video, Tom reacts to the news that no new condo projects launched in Toronto in the first quarter of 2026 and explains what is behind that headline. It helps condo buyers, investors and anyone holding a pre construction contract understand why developers are focused on clearing existing inventory first.

Key points

• In April 2026, Tom said people closing on pre construction condos bought three to five years ago were, at minimum, losing 20% to 40%, and assignment sales were very hard to move.
• Some owners who cannot close give the unit back to the developer and get sued, which is one reason finished buildings still have leftover inventory.
• Tom sees the HST removal making leftover, ready to move in inventory more worth a look for first time buyers and investors, though in many cases the pricing still does not make sense.
• He notes the proposed 50% cut to development fees is not happening anytime soon.
• Tom believes the investor demand that used to buy most new launches is gone, so developers must clear current inventory before new launches can return.

Questions answered in this video

Why did no new condo projects launch in Toronto in early 2026?

Tom explains that developers did not believe they could sell enough units to reach the roughly 70% presales needed for construction financing. Investor buyers who used to fill new launches are no longer interested, and the market is now mostly end users.

What is happening to people closing on pre construction condos they bought years ago?

In this April 2026 video, Tom says those buyers are losing at least 20% to 40% compared to what they paid. Some can hold on, some take the loss and assign the unit, and some cannot close and give it back to the developer.

Related: Toronto condo specialist | Real estate investing in Toronto | Toronto real estate market updates