National asking rents fell monthly for almost 1.5 years, reaching a 33-month low, easing pressure.
Industry voices warned a “supply cliff” could start in 2028 if developers slow, eventually pushing rents upward.
Current rental construction is record-high, but much reflects decisions from 1–2 years earlier, not future plans.
With many units completing current and next year, finding tenants is harder, and rents and occupancy may fall.
Some long-term developers still plan thousands of units, betting lower costs and reduced charges can sustain supply.
I’m seeing renting in Canada feel less punishing lately, with more supply and better deals showing up. The big worry is developers pulling back, which could bring back shortages and higher rents later.