As we head now across the border to gaza, where for eight days, families have been living under rocket fire there, as well. Scrambling into bunkers. Tonight, many are celebrating there. Abc's alex... See More
As we head now across the border to gaza, where for eight days, families have been living under rocket fire there, as well. Scrambling into bunkers. Tonight, many are celebrating there. Abc's alex mardt is in gaza city this evening. Alex, good evening. Reporter: Good evening, david. Just a fuhr hours ago, the israeli navy was pummeling this shoreline with artillery. Both sides literally firing until the last minute. Tonight, there's a jubilation on the streets of gaza that hasn't been seen in years. The green flag of hamas waved across the gaza strip tonight. Palestinians poured into the streets. There is definitely a sense of relief on the street, but make no mistake, this is a victory celebration. After a week of fighting with israel, these palestinians feel like they've won. Won, because for the first time, militant groups were able to fire rockets into israel's biggest cities. Jerusalem and tel aviv. You feel this is a turning point, now, you can hit tel aviv? Yeah, it's huge! It's huge for us! Reporter: In the final hours, both sides kept pounding away at each other. An israeli air strike leveled this building. Naval about tillty from the sea landed right near our hotel. The human cost has been huge. Here in gaza, more than 160 dead and 1,200 wounded. Con flight like this draws out the savagery in its participants. In this photo, hamas militants can be seen dragging through the streets of gaza the executed body of an israeli collaborator. And while it is quiet here tonight, everyone knows that could end at any time.
This transcript has been automatically generated and may not be 100% accurate.