Steward Health Care System LLC filed for bankruptcy early Monday after a period of mounting financial challenges and government scrutiny over the impact of its hospital closures on patients.
Jones Lang LaSalle Inc.’s chief executive officer said demand is soaring for data centers as corporate America embraces artificial intelligence, creating a rare bright spot in a commercial-property market faced with rising office vacancies.
The New York judge overseeing Donald Trump’s hush-money trial said he may have no choice but to jail the former president if he continues to violate a gag order intended to protect the safety of jurors and witnesses.
US renters are more pessimistic about their ability to ever own a home and households’ expectations of home-price growth has reaccelerated after falling last year, a new Federal Reserve Bank of New York survey showed.
The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales surged 25.5 per cent in April compared with the same month last year, with levels returning to historical averages.
Toronto home prices hit new record as sales soar 42.3% in September
Noah Zivitz, BNN Bloomberg
Toronto home sales surge 42% in September
VIDEO SIGN OUT
Demand for detached properties helped fuel another month of double-digit sales growth and record-breaking prices in Canada's largest housing market in September.
The total number of homes sold across the Greater Toronto Area surged 42.3 per cent year-over-year to a new record for September as 11,083 properties traded hands last month, according to data released Tuesday by the Toronto Regional Real Estate Board (TRREB).
Detached homes accounted for more than half of the activity as 5,559 sales were recorded in the month, representing a 55 per cent increase from last year. Meanwhile, condo activity lagged as sales rose 14.6 per cent year-over-year.
The average selling price for all homes rose 14 per cent year-over-year to $960,772 -- marking a fourth consecutive month of record average prices in the GTA after the previous all-time high of $951,404 was registered in August.
“Improving economic conditions and extremely low borrowing costs sustained record-level sales in September, as we continued to account for the substantial amount of pent-up demand that resulted from the spring downturn. … However, it will be important to monitor the trajectory of COVID-19 cases, the related government policy response, and the impact on jobs and consumer confidence," said TRREB president Lisa Patel in a release.
HAVE YOUR SAY
Do you agree with CMHC CEO Evan Siddall’s warning of high single-digit home price declines?