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It’s been some time since companies could raise cash in debt markets and come away feeling like they got the better end of the deal.
China’s all-or-nothing stock market is losing momentum, after three months of what might be best described as forced buying of a deeply oversold asset.
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A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
Sales in the Toronto housing market ground to the slowest pace since the first month of the pandemic as buyers contend with some of the highest borrowing costs they’ve seen in 15 years.
May 4, 2021
BNN Bloomberg
,Runaway home-price growth in Canada's largest housing market stalled last month amid signs prospective homebuyers could be tapped out.
There were 13,663 property sales across the Greater Toronto Area in April, according to data released Wednesday by the Toronto Regional Real Estate Board (TRREB). While that represents a 362 per cent surge compared to a year earlier, when activity was decimated at the onset of the pandemic, it was a sequential drop of almost 13 per cent compared to sales logged in March.
It was a similar story for the average selling price in April, which surged 33 per cent year-over-year to $1,090,992 -- marking a modest downturn from the record that was set in March.
"It makes sense that we had a pullback in market activity compared to March. We’ve experienced a torrid pace of home sales since the summer of 2020 while seeing little in the way of population growth. We may be starting to exhaust the pool of potential buyers within the existing GTA population. Over the long term, sustained growth in sales requires sustained growth in population,” said TRREB President Lisa Patel in a release.
Across the four major home categories tracked by TRREB, only condos and semi-detached properties bucked the price trend by posting region-wide sequential price growth. Meanwhile, the average price of a coveted detached home in the City of Toronto slipped almost three per cent to $1,699,756.