Real gross domestic product (GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.3 percent. For the full year, the economic expansion was 5.7 percent, the biggest since 1984. The GDP estimate released today is … [More]

In the week ending January 22, the advance figure for seasonally adjusted initial claims was 260,000, a decrease of 30,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 286,000 to 290,000. The 4-week moving average was 247,000, an increase of 15,000 from the previous week's revised average. The previous week's average was revised … [More]

U.S. housing gained a record $6.9 trillion in 2021, nearly doubling what was previously the largest annual gain of $3.7 trillion in 2005. The full U.S. housing stock is now worth $43.4 trillion, according to a new Zillow® analysis.   Strong demand met limited supply in 2021, driving home values up more than ever before — home values grew 19.6% last year, an all-time high in … [More]

According to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC, a Radian Group Inc. company (NYSE: RDN), home prices nationally rose from the end of November 2021 to the end of December 2021 at an annualized rate of 15.9 percent, and December 2021 marked the tenth consecutive month in which month-over-month home prices rose more than 10 percent on … [More]

Dwellics, the authority in U.S. City Data and personalized advice on where to move, today unveils the 2022 Report, Top 100: Best Cities to Work Remote in 2022. The Report reveals several surprising trends, including Arizona exceeding all other states in America by scoring three of the top ten positions on the list and six of the top twenty. Arizona cities … [More]

Greater Phoenix ended the year with a workforce of nearly 2.3 million, a 5.7 percent year-over-year increase. The seasonally unadjusted unemployment rate for the metropolitan area dropped from 2.8 percent in November to 2.4 percent in December 2021. It was 6.4 percent a year ago. In Greater Phoenix, 122,700 new workers were hired in the year-over-year comparison with … [More]

New data shows national rents grew five times faster in 2021 than in 2020, on average, according to the Realtor.com® Monthly Rental Report released today. In December, rents notched the sixth straight month of double-digit yearly increases nationwide and surged in the majority of large metros, led by Miami, Tampa, Fla. and Orlando with gains of more than 34% … [More]