A few stats on the GTA's rental market that I forgot to post earlier in the week. Leases are tracking sales closely, down 54% during the first week of April. And similar numbers for low-rise and condos.

New listings were down 29% during the first week of April, which means demand is cooling faster than supply. Low-rise new listings were down 48% vs 17% down for condos

This has resulted in a sharp increase in rental inventory for condos. Note that this was calculated by converting last week's transaction volumes to a monthly figure. If I include actual transactions over the past 30 days MOI for condos drops to 1.9 because March started strong