The number of renter households rose 2.7%, in the third quarter year over year, to a record 45.6 million. That’s according to a new report from Redfin, the technology-powered real estate brokerage. That rate of growth is three times faster than the 0.9% increase in homeowner households, which now total a record 86.9 million. The 2.7% increase—representing 1.18 million … [More]
Annual Home Price Slowdown Continues, Says Report
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index and HPI Forecast for September 2024. U.S. home price growth continued to cool, slowing to a 3.4% year-over-year in September. Compared to with the month prior, home prices rebounded to post a very slight uptick (0.02%) following … [More]
Buying Like It’s 2021: Nearly Half of Recent Buyers Have a Mortgage Rate Below 5%
Almost half of recent home buyers with a mortgage secured a rate below 5%, a recent Zillow® survey shows.1 Current mortgage rates are hovering near 7%, yet many home buyers who purchased a home in the past year thought outside the box to unlock homeownership. Mortgage rates surged from historic lows of 2.65% in 2021 to decade-long highs of 7.79% by the fall of 2023. This … [More]
2024 Is Shaping Up to Be the Smallest Black Friday Ever, Says GoDaddy Study
Consumers are in a giving mood this year, not just toward their friends and families, but also to small businesses. According to a new GoDaddy survey, 71%* of U.S. shoppers are willing to pay more to support small businesses during Black Friday and this year's holiday season, with an eye-popping 53%* of them willing to spend up to 10 percent more to do so. Despite 65%* of … [More]
Housing Market Stays Surprisingly Active as Election Looms and Mortgage Rates Hit 7%
Mortgage rates rose to 7% for the first time since early July this week, erasing their late-summer decline into the low-6% range. That’s according to a new report from Redfin, the technology-powered real estate brokerage. Rising rates, combined with economic uncertainty and anxiety brought on by the impending presidential election, are causing some prospective homebuyers and … [More]
The Business of Arts & Culture: How Growing Arts & Culture Benefits Our Economy
“Arts and culture is a significant industry in Arizona,” says Chris Camacho, president and CEO of the Greater Phoenix Economic Council, citing numbers that support the statement: The sector represents 3% of the state’s total GDP, employs more than 84,000 individuals and in 2022 added $14.2 billion to the economy. That last figure, he notes, is “nearly as much as agriculture, … [More]
Sandra Watson, Arizona Commerce Authority
Valuing Arts & Culture
The value of arts and culture is vital when evaluating the strength of an economy. Arts and culture is not only a revenue-generating sector on its own, it has been proven over and over to be a significant element of the health of the business community and in economic development. Arizona’s vibrant arts and culture scene is critical to our unbeatable quality of … [More]
How Business Owners Can Optimize Their Estate Tax Plan
And ensure business continuity
Entrepreneurs work tirelessly to build their companies, many with the intent to transfer their business to the next generation. But without proper estate tax planning, business owners at certain levels of wealth run the risk of missing out on significant savings opportunities. Using tools like tax exemptions, trusts, valuation discounts and leveraging business structures for … [More]
Arizona Is One of the Best States to Get a Job in Software Development, Study Finds
According to a new study, Maryland is the best state in the US to get a job in software development. Software development company Vention investigated which US state is best for finding a software development job. They considered four factors, which included the average salary for a software developer, availability of this job type, state income tax, and cost of … [More]
Homebuying Demand Holds Up Even as Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates
Pending U.S. home sales rose 3.5% year over year during the four weeks ending October 20, the biggest increase in three years (with the exception of the prior 4-week period, when they rose 3.7%). That’s according to a new report from Redfin, the technology-powered real estate brokerage. On a local level, pending sales are up in 35 of the 50 most populous U.S. metros, the most … [More]
Arizona Tops List Where Homeownership Has Increased the Most since 2020
A new study from the money experts at Moneywise shows that Arizona has had the highest increase in homeownership since 2020. Arizona has seen the most significant increase in homeownership since 2020 The research analysed government census data from 2020 to 2024 to see which states have had the most significant increase in homeownership. The percentage increase is not the … [More]
Carvana Report Highlights How Customers Search for EVs
Carvana, an industry pioneer for buying and selling used cars online, today released its EV Trends Report for Q3 2024. The report focuses on consumer search behavior, showcasing the increasing interest in electric vehicles (EVs) and evolving preferences among shoppers. Key findings from the report include: The EV share of make-model searches on Carvana.com has … [More]
Zero-Emissions Transportation Co. Releases Inaugural Sustainability Impact Report
Nikola Corporation, a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, released their first-ever sustainability impact report today. Nikola's 2023 Sustainability Impact Report covers environmental and social impacts, reporting, and progress towards Nikola's sustainability priorities. According to … [More]
Builders Continue Shift to Condos and Townhomes amidst Affordability Crisis
America's housing stock continues to grow faster than it did before the pandemic-induced housing frenzy, as builders race to fill a shortage of 4.5 million homes. The latest analysis from Zillow® shows roughly 1 million single-family homes were completed in 2023, the second-highest annual total since before the global financial crisis. That's about 11% more homes than were … [More]
Pending Home Sales Jumped 2.5% in September, the Biggest Monthly Increase in over 18 Months
Pending home sales jumped 2.5% month over month in September on a seasonally adjusted basis, the largest increase since January 2023, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They rose 3.1% year over year, the biggest annual increase since May 2021. Pending sales climbed last month for two reasons: Mortgage rates fell … [More]
New Poll Shows Arizonans Demand Action on Increasing Access, Affordability to Education and Training After High School
Education Forward Arizona, as part of its Everything to Gain campaign, unveiled a new poll in an ongoing study regarding the state of attainment of education and training after high school. The results show that Arizonans overwhelmingly support specific policy actions from leaders and lawmakers to increase support and resources to help Arizonans attain a degree or certificate. … [More]
See Where Arizona Ranks on the ‘Most Overworked’ States List
A new study has revealed the most and least overworked states. The study, by personal injury lawyers DeMayo Law Office, analyzed employment data for 2024 from the Bureau of Labor Statistics, looking at weekly hours worked for every state to determine which states work the most throughout the year. Researchers also compared figures to the average hours worked in 2014 to … [More]
What Matters to Small Businesses on Election Day
Top of mind: inflation, taxes, wages and cost of living, reveals GoDaddy survey
With the number of small businesses on the rise, entrepreneurs represent an important voting block as November 5 approaches. According to the U.S. Department of the Treasury, the U.S. registered more than 430,000 small business applications monthly in 2024 - 50% more than in 2019 - so addressing small business owners' concerns could help candidates differentiate themselves with … [More]
