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Pandemic-shift: spike in savings diverted into housing driving national median home prices up 8.6%, according to Royal LePage | Nachricht

Despite second wave worries, the median price of a home in Canada forecast to finish year 7.0% higher than year-end 2019

  • Delayed spring market extends through Q3 as pent up demand fuels prices and sales
  • 97% of regions surveyed post price appreciation in third quarter despite economic shock of COVID-19
  • Ontario and Quebec real estate markets dominate list of highest appreciating regions, with Windsor in the top spot at 17.0%

TORONTO, Oct. 14, 2020 /CNW/ – According to the Royal LePage House Price Survey and Market Survey Forecast released today, the aggregate1 price of a home in Canada increased 8.6 per cent year-over-year to $692,964 in the third quarter, as high demand and low inventory continued to fuel a seller’s market.

The Royal LePage National House Price Composite is compiled from proprietary property data in 64 of the nation’s largest real estate markets. When broken out by housing type, the median price of a standard two-storey home rose 10.0 per cent year-over-year to $819,906, while the median price of a bungalow increased 7.0 per cent to $570,701. The median price of a condominium increased 5.3 per cent year-over-year to $510,365. Price data, which includes both resale and new build, is provided by Royal LePage’s sister company RPS Real Property Solutions, a leading Canadian real estate valuation company.

“Typical consumption patterns have been disrupted in 2020 as the pandemic has driven the household savings rate to levels not seen in decades,” said Phil Soper, president and CEO of Royal LePage. “Most Canadians have sharply reduced spending on discretionary goods and services involving a great deal of human interaction, and with mortgage rates at record lows, many have refocused on housing investments, be it renovations to accommodate work-from-home needs, a recreational property or a new

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National Electrical Contractors Association Sees Massive Success with First Virtual Convention

WASHINGTON, Oct. 9, 2020 /PRNewswire/ — The National Electrical Contractors Association is proud to announce the success of NECA 2020 LIVE, sponsored by Powering Chicago, the association’s first ever virtual convention and trade show. From Oct. 6–8, NECA 2020 LIVE saw 5,104 live participants interact with nearly 100 exhibitors, experience 84 education sessions and product demos from 22 companies, and network virtually with the entire electrical construction industry.

NECA 2020 LIVE, sponsored by Powering Chicago, saw 5,104 participants during the live event, with more to come as content is archived until November 15.

All NECA 2020 LIVE content will be available for registrants through November 15, providing an unprecedented opportunity to explore every second of education and entertainment for the first time in NECA Convention history. New registrations will also be available throughout that time for those interested to explore all that NECA has to offer.

“When we began planning NECA 2020 LIVE, we had great ambitions, but you never quite know how attendees are going to respond to such a massive change,” said Beth Ellis, NECA Executive Director of Convention & Meetings. “We were absolutely floored by the response, with thousands of NECA members and other electrical industry figures all coming together and using our platform to engage with each other in ways they had not done all year. We could not be more thrilled to see this success and hear how great the experience was both for loyal NECA Convention attendees, and those who had never been able to travel before.”

NECA intends to utilize virtual options for all major events going forward, but there will still be an emphasis made on bringing the entire industry together in one physical location once that is possible.

“I am so proud of our incredible staff and the entire association for all the hard work that led to the success of NECA 2020 LIVE,” said NECA CEO David Long. “When we made

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National Electrical Contractors Association Sees Massive Success with First Virtual Convention | News

WASHINGTON, Oct. 9, 2020 /PRNewswire/ — The National Electrical Contractors Association is proud to announce the success of NECA 2020 LIVE, sponsored by Powering Chicago, the association’s first ever virtual convention and trade show. From Oct. 6–8, NECA 2020 LIVE saw 5,104 live participants interact with nearly 100 exhibitors, experience 84 education sessions and product demos from 22 companies, and network virtually with the entire electrical construction industry.

All NECA 2020 LIVE content will be available for registrants through November 15, providing an unprecedented opportunity to explore every second of education and entertainment for the first time in NECA Convention history. New registrations will also be available throughout that time for those interested to explore all that NECA has to offer.

“When we began planning NECA 2020 LIVE, we had great ambitions, but you never quite know how attendees are going to respond to such a massive change,” said Beth Ellis, NECA Executive Director of Convention & Meetings. “We were absolutely floored by the response, with thousands of NECA members and other electrical industry figures all coming together and using our platform to engage with each other in ways they had not done all year. We could not be more thrilled to see this success and hear how great the experience was both for loyal NECA Convention attendees, and those who had never been able to travel before.”

NECA intends to utilize virtual options for all major events going forward, but there will still be an emphasis made on bringing the entire industry together in one physical location once that is possible.

“I am so proud of our incredible staff and the entire association for all the hard work that led to the success of NECA 2020 LIVE,” said NECA CEO David Long. “When we made

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The Latest: California governor tests negative for virus | National News

That decision was based on letting people “go ahead and live,” DeWine said.

“Allowing some more people to go root for the Bengals, go root for the Browns, is something that people feel very passionately about-—we think they can do it safely,” the governor said.

JEFFERSON CITY, Mo. — Missouri on Thursday reported an increase of more than 1,500 confirmed COVID—19 cases and the highest number of hospitalizations for confirmed or suspected cases since the pandemic began.

Data from the Missouri Department of Health and Human Services showed a total of 137,156 confirmed cases and 2,259 deaths since March. That was 1,505 more cases and 23 more deaths than reported Wednesday.

The department also reported 1,344 Missourians were hospitalized with confirmed or suspected COVID–19 cases on Wednesday — up from 1,241 the previous day. The state averaged 1,204.9 hospitalizations in the previous seven days.

One of the largest hospitals in southwestern Missouri has seen a big rise in hospitalizations. CoxHealth spokeswoman Kaitlyn McConnell said the Springfield hospital on Thursday was treating a record 93 COVID-19 patients.

“Because this surge came to the Midwest later than other parts of the country, we were able to prepare by aggressively gathering PPE and expanding our facilities, and are currently managing through this crisis,” McConnell said in an email. “However, we are distressed by the rising number of cases and what they mean in our community. We ask our community, and those across the country, to continue to take preventative measures against the spread of this virus.”

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The Latest: Pennsylvania sees most confirmed cases in months | National News

ROME — Italy has added Belgium, the Czech Republic, the Netherlands and the United Kingdom to its list of countries at risk for the coronavirus.

Visitors from the four countries, as well as previous list members Spain and France, must be tested on arrival in Italy or show proof of a negative test in the past 72 hours.

Italian Health Minister Roberto Speranza signed the ordinance on Thursday, the same day Italy’s new confirmed caseload passed 4,400, the highest levels since April.

Italy still has one of the lowest infection rates in Europe, at 52 cases per 100,000 residents over the last two weeks. By contrast, the Czech Republic counts 374 per 100,000, while Spain has 303, the Netherlands 285, France 257, Belgium 246, and the United Kingdom 201 per 100,000.

YANGON, Myanmar — Myanmar reported 1,012 new cases of the coronavirus a day after setting a record daily total of 1,400.

Authorities implemented a tight lockdown measures in Yangon, the country’s largest city with the highest number of infections.

Myanmar’s leader, State Counsellor Aung San Suu Kyi, says the government had acquired antigen test kits to quickly detect positive cases. She acknowledged a shortage of beds in hospitals in some areas to treat patients but said the health ministry was arranging more facilities.

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