As the market starts to tighten up, that could prompt some would-be sellers who are on the sidelines to start thinking harder about bringing their home to market. They just need to be convinced that they’re going to be able to find another home that meets their needs. That’s been the vicious circle for years. Owners are fairly confident they’ll be able to sell but low supply makes them less certain they will be able to find the next home. The Bank of Canada announced in January that it would hold its key interest rate steady. That started to give prospective buyers confidence that borrowing costs would not rise. Now that more buyers have resumed their search, competition is heating up again amid historically low levels of new listings and properties are drawing multiple offers. Although the bids are not going well over the list price as they did during the pandemic’s real estate frenzy, that may change if more homeowners do not put their properties up for sale.