The Toronto housing market is known for its high demand and limited supply, leading to rising home prices. Many people are attracted to the city for its diverse culture, job opportunities, and amenities. This has resulted in a competitive environment for buyers, often driving prices beyond what many can afford. In recent years, the market has seen fluctuations due to various factors, including interest rates and government policies. The Toronto Real Estate Board regularly reports on trends, indicating that while prices may stabilize, the overall demand for housing in the city remains strong.