There is a renewed sense of optimism among small and midsize business leaders as they consider their business and economic prospects for the year ahead, according to JPMorganChase’s 2025 Business Leaders Outlook survey released today. Compared to a year ago, confidence in the national economy has jumped 12 percentage points to 55% among small business owners, and more than … [More]
Housing Affordability Didn’t Worsen in 2024—The First Time in Four Years That Has Happened
A household making the $83,782 median U.S. income in 2024 would’ve had to spend 41.8% of their earnings on monthly housing costs if they bought the $429,734 median-priced U.S. home, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s a slight improvement from 42.2% in 2023, but is considerably less affordable than the typical … [More]
U-Haul Growth Metros and Cities of 2024: Phoenix Metro Ranks Third for In-Migration
The Dallas-Fort Worth-Arlington metropolitan area, better known as the DFW Metroplex, is the leading U-Haul Growth Metro of 2024. Charlotte, Phoenix, Lakeland and Austin complete the top five U.S. growth metros, meaning they saw the largest net gains of U-Haul® customers taking one-way equipment into and out of metro areas last year. This marks the first year that metros … [More]
E-Commerce Enables Real-Time Pricing Agility for Businesses
America’s Top 5 eCommerce Platforms with the Most Frequent Price Changes
Dynamic pricing is reshaping the e-commerce landscape, offering businesses real-time adaptability while presenting unique opportunities and challenges for online shoppers. According to a new report by Smartproxy, e-commerce platforms in the U.S. and Canada are adjusting prices with unprecedented frequency. Insights from the industry-first e-commerce Maturity Index reveal the … [More]
2024 Year in Review: Advancing Arizona through Economic Development
High-growth industries saw significant investments alongside wins for startups, small business and broadband
In 2024, Arizona continued to attract historic investments while pioneering new advancements for workers, startups and small business owners, rural communities and more. Watch Arizona’s economic year in review below “2024 represented a year of significant growth and investments to continue growing Arizona’s economy,” said Sandra Watson, President and CEO of the … [More]
Housing Supply Ends 2024 on the Rise, Up 12% Year over Year
Active listings climbed 12% year over year during the four weeks ending December 22, though that was the smallest increase since March, according to a new report from Redfin, the technology-powered real estate brokerage. Redfin is taking a break from analysis this week, but please see the tables below for the latest housing-market data. Redfin will be back with full … [More]
January Guest Editor: Rick McCartney, InMedia Company
Ahead into the New Year
In spite of science telling us the universe is expanding, the world we live in seems to be getting smaller as we become increasingly interconnected. This is why we so appreciate the insights and expertise of the business leaders who speak so eloquently in the cover story in the following pages. As we make plans for 2025 in our own organizations, we can enjoy the benefit of … [More]
Looking Ahead: Arizona’s Cannabis Market in 2025
Arizona reached more than a billion dollars in cannabis sales in 2023 and 2024, respectively, with adult-use sales making up the bulk of each total. Although there was a 7.5% decrease in sales between 2023 and 2024, the state is expected to continue strong as the global market is expected to grow to $58 billion in sales by 2028, with 56% coming from the United States … [More]
Banking the Industry: Questions Every Construction Company Should Ask
It’s important to recognize that the industry experiences a lot of variation from one year to the next
In any metropolitan area, one of the biggest indicators of growth is construction. Phoenix saw 10.7 million square feet of industrial projects this past year, according to the November 2024 Industrial Market Report from CommercialEdge, opening the door for continued growth in the industrial and manufacturing space and more opportunities for construction companies. Heading into … [More]
Trending in 2025: Forecasting Strengths and Challenges in Our Key Economic Sectors
As we look to the new year ahead with the usual mixture of eagerness and trepidation, we recognize how interconnected we are. Business does not exist in silos, so we value insights from fields that touch our own, even if only peripherally. In Business Magazine reached out to leaders of businesses in our community for their thought leadership in areas at the very foundation … [More]
2024’s Most Popular (and Most Unusual) Home Searches Revealed
This year, Zillow enhanced its natural language search feature, allowing home shoppers to search for their next home as naturally as they would speak to family or friends. Buyers and renters can use everyday language instead of preset filters to search by commute time, affordability and nearby schools or points of interest. This new feature showed what Americans were … [More]
Most Entrepreneurial States in 2024; See Where Arizona Ranks
As 2024 concludes, a new report aimed to identify where the most hard-working Americans live, and it is not necessarily the richest or the poorest states. Utah ranked as the most entrepreneurial state, with Arizona and Texas following closely behind in second and third positions. On the other hand, Montana, South Dakota, and Alaska displayed the least enthusiasm in starting a … [More]
2025 Housing Market Predictions from the Arizona Association of REALTORS®
2024 marked a year of sustained demand in Arizona’s housing market as inventory remains limited and demand is high from continued population growth. With 2025 on the horizon, the Arizona REALTORS® is forecasting the housing projections for the year and the impact of 2024 as they expect increased activity in the market and interest rates to slightly stabilize. "The … [More]
Rent Growth Continues to Slow, Phoenix Metro Down 1.2 Percent
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. The report highlights the slowing growth in key rental metros which all experienced population spikes during the … [More]
Existing Home Sales Rise to Highest Level in over a Year and a Half
Existing home sales rose 0.7% month over month in November to a seasonally adjusted annual rate of 4,269,85—the highest level since March 2023. They jumped 4.5% year over year—the largest annual increase since July 2021, according to a new report from Redfin, the technology-powered real estate brokerage. A seasonally adjusted annual rate is not a measurement of actual total … [More]
Positive Office Space Absorption After Five Straight Negative Quarters Signals Further Growth
Net absorption of office space turned positive in the second and third quarters of 2024, following five consecutive quarters of shrinking demand. Although it is still possible that a recession could delay a recovery, recent trends suggest the office sector is stabilizing and that demand for office space will grow modestly in 2025, according to the NAIOP Research Foundation’s … [More]
Phoenix Metro Area Ranked No. 8 in Forecast of Top Housing Markets for 2025
The Valley takes spot in annual ranking of areas poised to see the strongest combined increase in home sales and listing prices
The Phoenix metro area, one of the market areas served by members of Phoenix REALTORS®, has been ranked No. 8 on the Realtor.com® 2025 top housing markets forecast. The 2025 forecast highlighted areas that are primed and ready for growth in the year ahead. This year’s list highlights markets characterized by moderately affordable homes, abundant inventory – mainly boosted by … [More]
Small Business Optimism Jumps Above 50-year Average
The NFIB Small Business Optimism Index rose by eight points in November to 101.7, after 34 months of remaining below the 50-year average of 98. This is the highest reading since June 2021. Of the 10 Optimism Index components, nine increased, none decreased, and one was unchanged. Following last month’s record high of 110, the Uncertainty Index declined 12 points in November to … [More]
