Business Report: Hospital finances, home sales, movie theater closures

New Jersey hospitals are dealing with worst financial fallout since the late 1990s

While COVID-19 hospitalizations in the state are down significantly from the peak, New Jersey’s hospitals are still feeling the financial effects months later. According to a report from the New Jersey Hospital Association, the state’s hospital systems are dealing with their worst financial fallout since the late 1990s. Nearly six out of 10 hospitals posted net losses through June.

Another sector of New Jersey’s economy — real estate — continues to do quite well. In August, pending sales for single-family homes in New Jersey rose more than 35%, and the median sale price jumped 17% to $410,000.

If you want to catch a movie in a theater, you’re going to have fewer options. The owner of Regal Cinemas plans to indefinitely close more than 500 theaters across the United States, including 11 in New Jersey, due to the financial impact from the coronavirus. In all, 45,000 workers will lose their jobs. Regal is the second-largest movie chain in the country, behind AMC.