The average buyer’s agent commission was 2.40% for homes sold in the first quarter, according to a new report from Redfin, the technology-powered real estate brokerage. That’s up slightly from 2.37% in the fourth quarter of 2024 and 2.36% in the third quarter of 2024—when the new National Association of Realtors (NAR) commissions rules went into effect—but down slightly from … [More]
Arizona Residents Carry the Fifth-Highest Credit Card Debt in U.S., Study Finds
A new study conducted by H&P Law, the Las Vegas personal injury lawyers, has revealed significant disparities in credit card debt across the United States. The research indicates that Connecticut residents carry the highest average credit card debt, while Iowa residents owe the least. Top 5 States with the Highest Credit Card Debt Rank State Average Credit Card … [More]
Small Business Optimism Declines in April, Survey Reveals
Fewer owners planning to increase business investments
The NFIB Small Business Optimism Index declined by 1.6 points in April to 95.8, the second consecutive month below the 51-year average of 98. The Uncertainty Index decreased four points from March to 92 but remained far above the historical average of 68. Seasonally adjusted, 34% of business owners reported job openings they could not fill in April, down six points from March. … [More]
New Tariffs Reshape Economic Landscape, Highlighting Commercial Real Estate’s Stability
Sweeping tariff policy heightens uncertainty. The recent introduction of the “Liberation Day tariffs” marks the most significant shift in U.S. trade policy in more than a century, propelling the net effective tariff rate from about 2.5 percent last year to well above that for most countries. A 10 percent blanket tariff now covers nearly all imports. Initially, 90 countries … [More]
Small Businesses Stay Confident amid U.S. Economic Uncertainty
Nearly half of U.S. small and microbusiness owners expect the national economy to weaken in the coming months. Despite the outlook, most still believe their own businesses will grow, according to new survey data released today by GoDaddy. In the latest findings from the GoDaddy Small Business Research Lab, formerly known as Venture Forward, 49% of 2,100 U.S. microbusiness … [More]
Arizona Is the Sixth-Best State to Work In for Wage Increases, Study Finds
A new study finds that Arizona experienced the sixth-largest wage increase between 2020 and 2023, recording an 18.4% increase. This wasn't too far behind the state with the largest percentage increase, Montana, which saw a 20.7% rise. According to the data, only four states saw wage increases that outpaced inflation. Work management experts Asana analyzed Bureau of Labor … [More]
Greater Phoenix Housing Market Gains Momentum with Sales Increase
The number of residential home sales rose for the second month in a row. Year-over-year closed home deals increased 4.1% compared to the first four months of 2024. “With all the questions about the economy, it’s reassuring to see closings rise again,” said Christy Walker, board president of Phoenix REALTORS®. “New listings are also up again, which gives us a diverse range of … [More]
Their Take: Q2 Economic Check-In – We’re in a Fiscal Pickle
As we have been expecting, 2025 is indeed proving to be the year of uncertainty and volatility. The global tariff storm is building with new developments almost daily. We’re calling Q2 ‘the fiscal pickle’ as the Fed grapples with high and increasing Inflation, while simultaneously dealing with a decelerating economy. Here’s What’s Happening Interest rates pushed steadily … [More]
Phoenix Industrial Absorption Remained Strong in Q1
Historic Deliveries of New Space Drive Vacancy to 11.2%
According to Colliers in Arizona, the Greater Phoenix industrial market posted 4.1 million square feet of net absorption during the first three months of 2025, continuing a record of strong leasing in the booming city and placing the metropolitan area as the third top market nationally in first quarter. Despite impressive net absorption, the city posted an increase of vacancy … [More]
Jobs Report: Labor Shortages Continue to Constrain Small Business Job Growth
NFIB’s April jobs report found that 34% (seasonally adjusted) of small business owners reported job openings they could not fill in April, down six points from March, the lowest since January 2021. “Small business owners remained open to hire and grow their workforce in April,” said Chief Economist Bill Dunkelberg. “While the percent of open positions decreased a bit, Main … [More]
Turmoil Weighs on Tech Jobs Market, Arizona Biggest Month Over Month Increase
Tech hiring intent remains stable at 203,000 new job listings
Tech hiring activity in April felt the weight of ongoing economic uncertainties and mixed market signals, CompTIA, the leading global provider of vendor-neutral information technology (IT) training and certification products, reported today. Tech sector companies reduced staffing by a net 7,000 positions in April, analysis of U.S. Bureau of Labor Statistics … [More]
Televerde Foundation Celebrates Major Milestones for Incarcerated Women with 2024 Impact Report
Televerde Foundation, a nonprofit organization that provides personal and professional development opportunities to incarcerated women so they can attain meaningful and rewarding careers upon release, is excited to announce the release of its 2024 Impact Report. This year's report highlights the continued growth, success, and transformation of the foundation's participants in … [More]
Their Take: Powering the Future of the West Valley
The West Valley is booming. Our growing population and major economic drivers like TSMC, tech companies and data centers are fueling this expansion, requiring thoughtful planning to ensure we have the infrastructure to support it. WESTMARC recently revised our strategic plan to prepare for the next decade of economic growth with advanced industries and new companies and … [More]
Their Take: Economic Uncertainty Is the Time to ‘Prepare for the Best’
On April 5, 2025, the Federal Reserve Bank of St. Louis (FRED) Economic Policy Uncertainty Index, which provides a daily uncertainty index based on news, forecasting, and tax codes for the United States, reported its1 highest score (992.75) in the past 12 months. In this context, uncertainty means a situation where the outcomes are increasingly hard to measure. Since that time, … [More]
44% of Home Sellers Are Giving Concessions to Buyers, Just Shy of the Highest Level on Record
Home sellers gave concessions to buyers in 44.4% of U.S. home-sale transactions in the first quarter, according to a new report from Redfin, the technology-powered real estate brokerage. That’s up from 39.3% a year earlier, and is just shy of the 45.1% record high at the start of 2023. This is based on an analysis of data submitted by Redfin buyers’ agents across the … [More]
Average Property Tax Amounts on Single-Family Homes Is Up, Not in Arizona
ATTOM, a leading curator of land, property data, and real estate analytics, released its 2024 property tax analysis for 85.7 million U.S. single-family homes, which shows that $357.5 billion in property taxes were levied on single-family homes in 2024, down 1.6 percent from 2023. Eight of the 10 states, including Arizona, with the lowest effective tax rates for … [More]
24% of Americans Are Scrapping Plans to Make a Major Purchase Like a Home or Car Due to Tariffs
Nearly one in four (24%) U.S. residents are canceling plans to make a major purchase, such as a home or a car, because of President Trump’s new tariff policies, according to a new report from Redfin, the technology-powered real estate brokerage. An additional one in three (32%) are delaying plans to make a major purchase. That’s according to a Redfin-commissioned survey … [More]
More than 300,000 Fans Enjoyed Spring Training Games in Mesa This Year
Nearly 1.7 million baseball fans attended 224 games across the Cactus League
Mesa celebrates the culmination of a successful 2025 Spring Training season with the Chicago Cubs leading attendance for all Major League Baseball (MLB) spring training and for the 12th straight season in the Cactus League. The Athletics saw a nearly 11 percent increase in attendance. Nearly 1.7 million baseball fans attended 224 games across the Cactus League this year, … [More]
