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]
A Record Share of Home Sellers Drop Prices as High Rates Cut into Buyers’ Budgets
Budgets are getting some relief right now, with daily average rates dropping considerably over the last week, from 8% to 7.5%.
Nearly 7% of for-sale homes posted a price drop during the four weeks ending October 29, on average, the highest portion on record. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. The record comes as mortgage rates hover at elevated levels, hitting their highest level in 23 years last week and cutting deep into … [More]
Almost a Third of Homes for Sale Are New Construction – the Highest Share of Any Third Quarter on Record
New builds are taking up a growing share of the pie as builders attract buyers with concessions, and surging mortgage rates prevent existing homeowners from selling
Nationwide, 30.6% of U.S. single-family homes for sale in the third quarter were new construction, according to a new report from Redfin, the technology-powered real estate brokerage. That’s the highest share of any third quarter on record and up from 28.9% one year earlier and 25% two years earlier. Newly built homes have taken up a growing share of for-sale housing … [More]
Curb Fraud Vulnerabilities – Take Control of Payments Processes
Incidents of payments fraud continue to increase as fraudsters take advantage of the digitization of work, shopping and general operations and communications. Despite growing attacks and attempts on digital payments — ACH debits and credits, wires, virtual cards, mobile wallets and cryptocurrency — the payments most vulnerable to fraud continue to be a more traditional method … [More]
Private Sector Addressing Arizona’s Homelessness Crisis with Arizona Housing Fund
Bank of America executive Howard Epstein established the Arizona Housing Fund (AZHF) in 2019 to provide a simple way for corporations, foundations, and individuals to fund more permanent, supportive, and affordable housing. After decades of serving on nonprofit boards working to address the growing issue of homelessness, it was clear government could not do it alone. It would … [More]
Arizona Ranks 11th among the Worst States for Healthcare, Says Study
Accessing affordable, high-quality healthcare is a challenge for Americans nationwide. In fact, nearly one third of Americans lack access to primary care and more than one third of Americans (38%) say they or a family member postponed medical treatment in 2022 due to cost, according to recent reports from the National Association of Community Health Centers and … [More]
Home Values Start to Slip as Market’s Summer Heat Fades, Phoenix Inventory Down 38%
Home values took an uncharacteristic step down in September, albeit a small one, according to the latest Zillow® market report. Competition is easing faster than normal this fall as buyers contend with the highest mortgage rates in more than 22 years. "Mortgage rates approaching 8% are taking the wind out of the market's sails, pushing monthly mortgage payments beyond many … [More]
Small Business Optimism Dips in September as Inflation Remains Top Problem
Owners are pessimistic about future business conditions
The NFIB Small Business Optimism Index decreased half of a point in September to 90.8. September’s reading marks the 21st consecutive month below the 49-year average of 98. Twenty-three percent of owners reported that inflation was their single most important problem in operating their business, unchanged from last month and tied with labor quality as the top … [More]
September Housing Report: Home Prices Rise as Inventory Crunch Continues
For the second month in a row, home prices rose on an annual basis in September (+0.4%) as the inventory shortfall lingers, with the number of homes on the market falling year over year for the third consecutive month (-4.0%), according to the Realtor.com® September Monthly Housing Trends Report released today. Active inventory remained 45.1% below pre–pandemic (2017-2019) … [More]
U.S. Annual Home Price Growth Picks Up Pace in August, 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 August 2023. CoreLogic’s Home Price Index dropped to an 11-year low in the spring of 2023 but is starting to regain momentum. While some states in the West still posted annual home price losses in August, … [More]
The Compelling Case for Impact Investing and Its Potential to Reshape the Future
The double bottom line is not just greenwashing
The case for impact investing is increasingly compelling, not just as an adjunct to traditional investing but as an evolution of how we influence the flow of capital in and across society. After decades of viewing investment purely through a financial lens, where the primary goal was to maximize returns to shareholders, we’re beginning to understand that a broader perspective … [More]
U.S. Housing Value has Surged, while Metro Phoenix Value has Declined
The U.S. housing market has rebounded impressively in 2023 after a short-lived downturn late last year. The total value of the U.S. housing market has surged by more than $2.6 trillion over the past year, a new Zillow® analysis shows. The total value of the U.S. housing market — the sum of Zillow's estimated value for every U.S. home — is now slightly less than $52 … [More]
More Home Sellers Drop Asking Price as Mortgage Rates Hit Two-Decade High, Says Report
Roughly one in 15 (6.5%) U.S. homes for sale had a price drop during the four weeks ending September 24, on average, up from 5.8% a month earlier–a sharp monthly increase compared to the same period in years past. That’s according to a new report from Redfin, the technology-powered real estate brokerage. At the same time, the median home-sale price is up 3% year over year and … [More]
Phoenix Area New Listings Up, Days on Market Drops for Existing Homes for Fifth Consecutive Month
The tight residential real estate market has a couple of bright spots in year-over-year data, according to a report from Phoenix REALTORS® that analyzes data from the most recent numbers available. “We’re seeing a steady market trend as the number of days on the market has declined for each of the last five months,” said Butch Leiber, president of Phoenix REALTORS’ Board of … [More]
Pending Home Sales Drop 13% YOY as Mortgage Rates Stay Stubbornly High, Says Report
Mortgage rates are sitting near a two-decade high and U.S. home prices rose 3% year over year during the four weeks ending September 17, pushing monthly housing payments to an all-time high. That’s according to a new report from Redfin, the technology-powered real estate brokerage. What homebuyers are doing: Waiting for homes to become more affordable and for more of … [More]
