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. Annual single-family rent growth remained in line with pre-pandemic trends in December. San Francisco posted the largest … [More]
Housing Market Activity Lost Steam in January as Mortgage Rates Stopped Falling and Prices Kept Rising
New listings dropped 1.2% month over month on a seasonally adjusted basis, the first decline since June, according to a new report from Redfin, the technology-powered real estate brokerage. They were up 2.7% from a year earlier, but that marks a deceleration from December’s 4.2% gain. Active listings (the total number of homes for sale) fell 0.3% from a month earlier on a … [More]
Investors Bought 26% of the Country’s Most Affordable Homes in the Fourth Quarter, Highest Share on Record
Overall, investor home purchases dropped 11% from a year earlier, the smallest decline since they began falling in 2022
Real estate investors bought 26.1% of low-priced U.S. homes that sold in the fourth quarter, according to a new report from Redfin, the technology-powered real estate brokerage. That’s the highest share on record and is up from 24% a year earlier. By comparison, investors purchased 13.6% of mid-priced homes that sold (vs 14.3% a year earlier) and 15.9% of high-priced homes that … [More]
Small Business Owners Expectations for Higher Sales Declined in January
The NFIB Small Business Optimism Index decreased two points in January to 89.9, marking the 25th consecutive month below the 50-year average of 98. The net percent of owners who expect real sales to be higher declined 12 points from December to a net negative 16% (seasonally adjusted), a very negative shift in expectations. “Small business owners continue to make appropriate … [More]
People Are Moving Out of Areas with Poor Air Quality, Phoenix Net In-Migration Continues to Increase
Places facing high risk from poor air quality are losing residents faster than they used to, while places with low risk are gaining residents faster than they used to, according to a new report from Redfin, the technology-powered real estate brokerage. In 2021-2022, 1.2 million more people moved out of than into U.S. metros facing high risk from poor air quality, more than … [More]
Top 10 States to Which Gen Zers Are Moving, Arizona Barely Makes the List
Gen Z may prioritize job opportunities and sunshine over affordability when moving out of state. A new Zillow® analysis of the U.S. Census Bureau's 2022 American Community Survey (ACS) finds Gen Z interstate movers flocked to California, even as the state experienced the highest outbound migration among all out-of-state movers. Nearly 215,000 movers left California in 2022, … [More]
Job Growth Continues to Drive Annual Home Price Gains, Says Report
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for December 2023. U.S. annual single-family home price growth continued its gradual upward momentum in December 2023 to 5.5%. Northeastern states still saw the largest gains, although no states or districts … [More]
Case Study: Company Doubles in Revenue Since Moving to Scottsdale’s SkySong
A leading and fast-growing company providing AI solutions in education has found a home at SkySong that has propelled its growth. OneOrigin, a leading technology company headquartered at SkySong, The ASU Scottsdale Innovation Center, has established a global presence with operations in the Middle East and India. Specializing in advanced AI solutions, the company primarily … [More]
Study Names Arizona among States with the Largest Fall in Job Openings
Job markets around the world have struggled throughout 2023 due to factors such as inflation driving up costs and triggering widespread layoffs. Across the U.S. there were 1.7 million fewer jobs available in October 2023 than there were in October 2022. Side hustle experts Wealth of Geeks have analyzed the latest data from the Bureau of Labor Statistics which showed the … [More]
32% of Homes for Sale in Q4 Were Newly Built, Just Shy of the Record High
Nationwide, 31.8% of U.S. single-family homes for sale in the fourth quarter were new construction, according to a new report from Redfin, the technology-powered real estate brokerage. That’s comparable with 31.9% a year earlier, which is the highest level of any fourth quarter on record. Newly built homes are taking up a growing share of the for-sale housing pie for two … [More]
Luxury Home Prices Hit All-Time High, New Listings Rose Most in Phoenix
Prices of luxury homes rose at twice the pace of non-luxury homes at the end of 2023, partly because elevated mortgage rates are irrelevant to many affluent buyers
The typical U.S. luxury home sold for a record $1.17 million in the fourth quarter, up 8.8% from a year earlier, according to a new report from Redfin, the technology-powered real estate brokerage, and new listings of luxury homes rose most in Phoenix (42.3%). Prices of non-luxury homes increased at half the pace, rising 4.6% year over year to a record $340,000. This is … [More]
From Founders to Sellers: Start Early to Plan the Why and When for Exiting a Business
It is common for business owners to consider selling their company, whether now or at some point in the distant future. For most business owners and founders, this process is a black box, without even a clear starting point. As a private equity firm that’s been investing in founder-owned businesses for nearly 20 years, we’re shedding some light on how business owners can … [More]
Global Partnerships Fuel Arizona’s Semiconductor Success
Arizona is no stranger to fostering international relations. Still, within the last year, its active recruitment of foreign partnerships is just one reason Arizona is now number two in semiconductor supercenters in the United States. An example of this proactive relationship building can be seen in the Arizona House Committee’s International Trade visit to Canada, Romania … [More]
The Chipmaker’s Visa: New Solution to Labor Shortage
Industry leaders and the Economic Innovation Group have put forward the Chipmaker’s Visa initiative, aimed at addressing the limitations of the current U.S. H-1B Visa system in meeting the semiconductor sector’s specific requirements. The Chipmaker’s Visa is designed to streamline the process of bringing skilled labor from overseas to supplement the U.S. workforce in this … [More]
Phoenix Sky Harbor International Airport Says 2023 Busiest Year Ever
2023 was a monumental year for Phoenix Sky Harbor International Airport with a record-breaking day, national and international honors, and new innovations. The year-end passenger numbers for America's Friendliest Airport® show that PHX has reached a new passenger milestone, and 2023 is the … [More]
Price Growth Starts the Year Strong, Metro Phoenix near Top of List for New Listings
The median U.S. home-sale price rose 5.1% during the four weeks ending January 21, the biggest increase since October 2022, according to a new report from Redfin, the technology-powered real estate brokerage. Asking prices rose 6.5% which is also the biggest increase since October 2022. Greater Phoenix is on of the top Metros with the biggest year-over-year increases in new … [More]
Phoenix Office Fundamentals Showing Signs of Stabilizing
Following a challenging 2023, local office market reporting some positive trends
The Phoenix Office of JLL has released its Q4 2023 Phoenix Office Insight, noting some persistent, positive trends after a challenging 12 months. In the last quarter of the year, negative absorption slowed, asking rents showed signs of stabilizing and construction deliveries remained subdued, reducing some supply-side risks and supporting the leasing success of key product … [More]
Renting a Home More Affordable than Owning; Phoenix Rents Growing Faster than Wages
ATTOM, a leading curator of land, property and real estate data, today released its 2024 Rental Affordability Report, which shows that median three-bedroom rents in the U.S. are more affordable than owning a similarly-sized home in nearly 90 percent of local markets around the nation. The report shows that both renting and owning a three-bedroom home continue to pose … [More]
