According to NFIB’s monthly jobs report, 40% (seasonally adjusted) of all owners reported job openings they could not fill in the current period, down three points from October. The percent of small business owners reporting labor quality as their top small business operating problem remains elevated at 24%. Labor costs reported as the single most important problem for business … [More]
2023 Least Affordable Year for Homebuying on Record – but 2024 Is Looking Up, Says Report
2023 has been the least affordable year to buy a home in Redfin’s records, but things are looking up for 2024, according to a report from Redfin, the technology-powered real estate brokerage. Someone making the $78,642 median U.S. income in 2023 would’ve had to spend 41.4% of their earnings on monthly housing costs if they bought the $408,806 median-priced U.S. home. That’s … [More]
Looking Ahead to 2024: More Homes for Sale, Improved Affordability
Home buying will remain expensive, so expect a competitive market for homes that need some work and for single-family rentals
The housing market's headline news this year has been the affordability challenge brought on by mortgage rates reaching 20-year highs. Looking ahead to 2024, Zillow® predicts home buyers will have a bit more breathing room — but only a bit. Buying a home will remain expensive, keeping pressure on the rental market to cater to families that will be renting for longer than … [More]
Monthly Mortgage Payments Fall; New Listings Post Biggest Annual Uptick in Over 2 Years
Housing payments have declined for the fifth week in a row, according to a new report from Redfin, the technology-powered real estate brokerage. The typical U.S. homebuyer’s monthly mortgage payment was $2,575 during the four weeks ending November 26, down $164 from a peak of $2,739 last month but up 13% year over year. Monthly payments are falling from their peak … [More]
Feedback – December 2023
Q: What economic trends do you expect will impact your business in 2024? Dr. Joel P. Martin President Positively Powerful / Triad West Inc. Sector: Business Consulting The experience economy is a trend that will significantly impact our business in 2024 and that we will be leveraging on behalf of our clients, and women specifically. Consumers unquestionably desire … [More]
The Secret Weapon in Preventing Buyer’s Remorse
Quantitative and qualitative procedures of financial due diligence
Purchasing a business involves considerable personal, professional and financial investment. For those considering a business transaction, it is important to know that academics and researchers highlight a discouraging trend for failed mergers and acquisitions. It’s sad, but true –— not all M&As are winners. However, the risks and surprises associated with the purchase of a … [More]
Coffee Badging: The Latest Hybrid Work Trend
“Coffee badging,” latest hybrid work trend, is the act of going into the office long enough to grab a coffee, visit with co-workers and/or comply with in-office work requirements. Once the coffee and the socializing dry up, employees leave to work from home for the rest of day. Many leaders hoping to restore office culture are understandably concerned about the impacts on … [More]
Updated Economic Impact Report Released for New Mega Resort in Glendale
VAI Global Development announced the results of the updated, comprehensive Economic Impact Analysis conducted by Applied Economics for VAI Resort. It highlights the positive contributions that VAI Resort will make to the thriving Glendale community. The updated Economic Impact Analysis underscores the substantial economic benefits that VAI Resort is expected to bring to the … [More]
Black Women Helping Close the Gender Gap as the Fastest Growing Group of Entrepreneurs, Says Report
According to a new report from GoDaddy's Venture Forward research initiative, Black women remain the fastest-growing group of entrepreneurs, more than doubling since August 2019. Black women total 10% of total entrepreneurs surveyed for the latest report, representing a 70% increase in the number of Black women-owned businesses started prior to the pandemic. Overall, … [More]
October Shows a Slow Start to the Quarter, but Metro Area Still Outperforming National Home Sales Trends
Fourth quarter of 2023 started slow with pending sales down 30.6% from last October, according to the latest data from Phoenix REALTORS. Year-to-date, closed sales are down 17% from the same period the previous year. The numbers follow seasonal trends typical for this time of year, as real estate activity decreases approaching holiday months. "The Phoenix metropolitan area is … [More]
Rent Remains High with More Properties Offering Incentives, Especially Phoenix
New construction surge prompts landlords and property managers to provide more perks
Rental concessions—offers meant to entice tenants, such as free months of rent or free parking—are at their highest level in more than two years despite strong renter demand, Zillow's latest data shows. That's because property managers are now likely competing for tenants, as new, primarily upscale buildings from the recent construction boom enter the rental … [More]
New Data Shows Arizonans Are Less Content and Volunteer Less, Yet Want to Engage in Solutions
Highlighting gaps in civic health ahead of a critical election year
Center for the Future of Arizona (CFA), a nonpartisan, nonprofit organization committed to bringing Arizonans together to create a stronger and brighter future for the state, releases new data highlighting Arizona's need for improved civic engagement in partnership with the Arizona Center for Civic Leadership at The Flinn Foundation. As it stands, Arizona ranks … [More]
Small Business Employees Report 50% Higher Levels of Satisfaction at Work
A new report released by the BambooHR Employee Happiness Index shows employee satisfaction at work continues to erode in the third quarter of 2023 except among employees working at America’s smallest companies who are the happiest in the nation. As reported yesterday by Axios, the study finds scores around, “happiness at work remain relatively high among small business … [More]
Post-Pandemic Dining Traffic Stabilizes in American Downtowns, Phoenix Near 2019 Levels
Square released the latest edition of its quarterly Restaurant Industry Report, which uses data across Square’s food and beverage sellers to examine dining trends and shifts in both consumer spending and restaurant wages. As restaurants continue expanding their offerings to include meal kits, branded merchandise, and more, some eateries are now offering prix fixe … [More]
Inflation and Labor Struggles Continue to Hinder the Small Business Economy
The Small Business Economic Trends survey shows small business owners are not feeling optimistic in the current economic environment. The Optimism Index decreased 0.1 points in October to 90.7, marking the 22nd month below the 50-year average. The last time the Optimism Index was at or above the average was December 2021. “This month marks the 50th anniversary of NFIB’s … [More]
More Than One-Third of Home Sellers Are Giving Concessions to Buyers
Sellers are handing out freebies to woo buyers, who have become increasingly likely to back out of deals as mortgage rates have climbed
Home sellers gave concessions to buyers in 35% of U.S. home sales during the three months ending Oct. 31, according to a new report from Redfin, the technology-powered real estate brokerage. That’s little changed from 35.9% one year earlier but up from 27.6% two years earlier. This is according to data submitted by Redfin buyers’ agents across the country, going back through … [More]
Metro Phoenix Office Market Posts 14-Year Largest Negative Net Absorption
Large Tenant Move-Outs Overwhelm Market as Leases Expire Following Pandemic
Third quarter brought the largest level of negative net absorption in 14 years to the Greater Phoenix office market, according to a report released by Colliers in Arizona. Multiple full-building vacancies impacted the market during third quarter, resulting in -1.16 million square feet of net absorption. Third quarter, similar to first quarter 2023, brought multiple large … [More]
Lunch Breaks Are on the Decline, According to Second Annual Lunch Report
Report illustrates why skipping lunch is bad for business and how employers can use lunch breaks to motivate teams
Despite the surge in trends like "bare minimum Mondays" and the "four-day work week,” more people are working through lunch, according to new data released today from ezCater, the most trusted provider of corporate food solutions. The company’s second annual Lunch Report found that workers are 40% more likely to say they never take a lunch break than they were just a year ago. … [More]
