The U.S. job market is slowing down, and more people are finding themselves unemployed. This change is happening because of three main reasons: the election year, high interest rates and new technology like Artificial Intelligence (AI). Let’s break down these reasons to understand what’s going on. The Election Year When it’s an election year, like 2024, businesses … [More]
Small Business Optimism Improves in Industry-Specific Report, Says Survey
Survey focuses on the construction, manufacturing, retail, and services industries
The NFIB Research Center released an industry-specific quarterly Small Business Economic Trends survey highlighting the construction, manufacturing, retail, and services industries. “Small business optimism showed signs of improving over the last few months. While conditions remain tough overall, owners report feeling positive about the future of the economy, especially in … [More]
How to Align Business Success with Sustainable Development Goals
Prioritizing sustainability in the investment and lending industry leads to long-term success
SDGs, or Sustainable Development Goals, are universal guidelines established by the UN that call on organizations to participate in a collaborative effort to address social, economic and environmental issues. Prioritizing SDGs creates socially responsible businesses and enables leaders to identify growth opportunities. When implementing SDGs, business leaders should choose … [More]
Securing Your Funding Round: A Strategic Guide
Perseverance, a compelling pitch and a deep understanding of investor expectations are key
Securing funding for a startup is a complex endeavor requiring meticulous planning, persuasive communication and a deep understanding of investor expectations. On average, it takes 18 months to close a deal, according to PitchBook. While fewer than 10% of startups successfully secure VC funding, those that do often receive substantial investments. While there is no … [More]
NAIOP Industrial Space Demand Forecast: Rate of Growth Slows but Sector Remains Strong
The net absorption of industrial real estate – the amount of space occupied minus space vacated over a given period – has slowed from record levels in the wake of the pandemic, but the sector remains strong, according to the most recent NAIOP Industrial Space Demand Forecast. Total U.S. industrial net absorption in the first half of 2024 totaled 67.1 million square feet, … [More]
The Typical Homebuyer’s Down Payment Is a Record $67,500, Phoenix Up 9.4% from a Year Ago
Nearly 3 in 5 homebuyers put down more than 10% of the purchase price, one of the highest shares on record
The typical down payment for U.S. homebuyers hit a record high of $67,500 in June, up 14.8% from $58,788 a year earlier, according to a new report from Redfin, the technology-powered real estate brokerage. This was the 12th consecutive month the median down payment rose year over year. In Phoenix, the median down payment is $52,500. That is up 9.4 percent from a year ago. … [More]
6 of Every 7 People with Mortgages Have an Interest Rate Below 6%, Says Report
The mortgage rate lock-in effect is prompting many homeowners to stay put, contributing to America’s housing shortage, but it’s starting to ease
Nationwide, 85.7% of U.S. homeowners with mortgages have an interest rate below 6%, down from 90.6% at the start of last year and a record high of 92.8% in mid-2022. That’s according to a new report from Redfin, the technology-powered real estate brokerage. This means even more than 85.7% of homeowners with mortgages have a rate below the current weekly average of 6.46%, … [More]
Single-Family Rents Remain Burdensome Despite Slower Growth, Phoenix Sees Decreases
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. National year-over-year rent growth is returning to pre-pandemic rates as prices continue to hold steady. In June 2024, … [More]
73% of Small Businesses Have Grown in Past Year Despite Reports of Labor Challenges, Study Reveals
Almost three quarters (73%) of American small business owners say their business has grown in the last year, with even higher percentages for Black (84%) and Hispanic (80%) owners, according to the U.S. Bank 2024 Small Business Perspective that was released today. The report, which is based on a survey of more than 1,000 small business owners, explores the complex challenges … [More]
U.S. Home Prices Tick Up 0.2% for the Second Month in a Row, Phoenix Shows Decline
U.S. home prices ticked up 0.2% for the second-consecutive month in July, on a seasonally adjusted basis, according to a new report from Redfin, the technology-powered real estate brokerage. That’s equal to the smallest month over month increase since January 2023. Phoenix showed a month-over-month decline at -0.18 percent. On a year-over-year basis, home prices rose 6.8% in … [More]
SRP Unveils 2023 First-Ever Supplier Diversity Economic Impact Report
Salt River Project (SRP) has released its first-ever Supplier Diversity Economic Impact Report, highlighting substantial economic impacts in Arizona including $243.3 million in spending with diverse suppliers that bolstered local economies and supported thousands of jobs. The report underscores the utility’s robust economic contributions and dedication to fostering diverse … [More]
NCAA Men’s Final Four Creates Big Impact on Arizona’s Economy
The 2024 NCAA Men’s Final Four generated $429 million in economic impact, according to a study by Arizona State University’s Seidman Research Institute. The event also generated $256.9 million for the state’s Gross Domestic Product (GDP). “Hosting the Men’s Final Four was a tremendous slam dunk for Phoenix, as we proudly welcomed the third … [More]
Thriving in Economic Downturns: A Strategic Blueprint for Entrepreneurs
In the face of economic downturns, inflation, and uncertainty, entrepreneurs need to adopt strategies that ensure resilience and sustainable growth. While such times are challenging, they also present unique opportunities for businesses willing to adapt. Key to navigating these turbulent periods are strategies focused on diversifying revenue streams, leveraging relationship … [More]
Investor Home Purchases Post Biggest Increase in Two Years, Phoenix Sees Decrease
Investor purchases of U.S. homes rose 3.4% year over year in the second quarter—the largest increase since the second quarter of 2022. That is according to a new report from Redfin, the technology-powered real estate brokerage. However, the the share of homes bought by investors decreased in Phoenix (-0.9 ppts) from a year earlier (Q2 2024). Investors purchased $43 billion … [More]
Inflation Remained the Number One Operating Issue for Small Business Owners in July
The NFIB Small Business Optimism Index rose 2.2 points in July to 93.7, the highest reading since February 2022. However, this is the 31st consecutive month below the 50-year average of 98. Inflation remains the top issue among small business owners, with 25% reporting it as their single most important problem in operating their business, up four points from June. “Despite … [More]
One-Third of Property Managers Are Offering Concessions as Rental Market Cools
More property managers offered concessions on their rentals in July as rent growth slowed, new data from Zillow® reveals. The post-pandemic construction frenzy continues to help soften rent growth. More new multifamily units were completed in June than in any month since the 1970s. About half of the rental listings on Zillow in Greater Phoenix (50.1%) are reporting concessions … [More]
Scammer Central: Arizona Ranks Sixth Worst State for Fraud
A new study has announced the areas hit the hardest by fraud in the period between Q2 2023 and Q1 2024. Residents in Arizona reported 1,215 cases per 100,000 people - a 22% increase above average. Arizona was found to be the sixth hardest-hit state, with 90,254 cases reported in the period. The study, conducted by injury lawyers Bader Scott, examined the number of fraud … [More]
U.S. Housing Market Nears $50 Trillion in Value, Phoenix Reaches Trillion-Dollar Status
The total value of U.S homes gained $3.1 trillion over the past 12 months to reach a record $49.6 trillion, according to a new report from Redfin, the technology-powered real estate brokerage. The number of metros where the total value of homes topped $1 trillion grew to eight and includes the Phoenix market for the first time. In percentage terms, the total value of the … [More]
