CMHC releases new analysis of condo markets in Toronto and Vancouver

OTTAWA, ON, June 10, 2025 /CNW/ – Between 2022 and 2025, condominium apartment sales dropped by 75% and 37%, in Toronto and Vancouver Census Metropolitan Areas (CMA), respectively. Inventories more than doubled and prices fell. New analysis by Canada Mortgage and Housing Corporation (CMHC) looks at the driving factors behind this trend and risks to broader efforts to increase housing supply over the long term.

While the growing inventories are leading to lower sale prices and asking rents for buyers and renters in the most expensive centres in the country, these factors also put downward pressure on new condo supply. Between 2022 and 2024, the number of cancelled units in Toronto and Vancouver increased five- and ten-fold, respectively. This presents a challenge for both the existing housing shortage and future supply growth.

Read the full report on CMHC’s website: Condominium Apartment Market Risks in Vancouver and Toronto.