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Missile Fire from Yemen's Houthi Rebels Triggers Sirens in Central Israel for the Second Night

  For the second consecutive night, air raid sirens blared across central Israel as a missile launched from Yemen's Houthi rebels was intercepted by Israeli air defenses early Wednesday morning. The missile, aimed at the Tel Aviv area, was successfully intercepted before crossing into Israeli territory, though shrapnel from the interception fell in several towns.  This marks the fourth time in a week that missile fire from the Houthi rebels has set off sirens in Israel. On Saturday, a missile hit a playground in Tel Aviv, injuring 16 people after Israel's air defense system failed to intercept it. In response, Israeli jets struck Yemen's rebel-held capital and a port city, resulting in nine casualties.  Israel's foreign minister has requested an emergency meeting of the U.N. Security Council to condemn the Houthi attacks and their alleged Iranian allies for providing the rebels with weapons. The situation remains tense as both sides continue to exchange fire, with the H...
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Toronto Home Sales Dip in March Amidst Fierce Competition, But Prices Climb

 

The Greater Toronto real estate market experienced a nuanced landscape in March. While home sales dipped by 4.5% compared to the previous year, the average home price saw a moderate rise due to intense buyer competition.

Key Insights:

  • Sales Volume: A total of 6,560 homes changed hands in March, down from 6,868 in the same period last year. However, this decline can be partially attributed to the Good Friday holiday, which fell within March this year instead of April.
  • Average Selling Price: Despite the drop in sales volume, the average selling price increased by 1.3% year-over-year, reaching $1,121,615.
  • New Listings: New listings surged by 15% during this period. Homeowners seemed to anticipate an improvement in market conditions as spring approached.
  • First Quarter Trends: The first quarter of 2024 ended with 11.2% higher sales year-over-year and a substantial 18.3% increase in new listings.

Market Outlook:

  • Interest Rates: If borrowing costs decrease later this year, we can expect sales to rise and new listings to be absorbed. This could lead to tighter market conditions, further pushing selling prices upward.

As the Toronto real estate landscape continues to evolve, buyers and sellers must stay attuned to these dynamics. The interplay between demand, supply, and economic factors will shape the market’s trajectory in the coming months.


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