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Toronto's real estate market has seen a surge in activity in recent weeks, as homes are selling fast and at high prices. Realtors and mortgage brokers alike have noted that the limited number of listings, coupled with the belief that the Bank of Canada (BoC) will pause its aggressive rate hike schedule, has led to an increase in demand from buyers. The sub-$1 million market is experiencing the highest levels of competition, but even homes that are priced higher are attracting a lot of interest. The change in activity is largely attributed to the increase in certainty and confidence among buyers, who were previously uncertain about the rise of interest rates.

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