Center for the Future of Arizona (CFA)– a nonpartisan, nonprofit organization with a mission to bring Arizonans together to create a stronger and brighter future for the state– unveiled new survey data on housing from its 2024 Arizona Voters' Agenda. The findings reflect the views of likely Republican, Democratic, and independent/unaffiliated voters of all ages and highlight … [More]
Investor Home Purchases Rise for the First Time in Nearly Two Years
Real estate investors bought 19% of U.S. homes that sold in the first quarter—the highest share in almost two years
Real estate investors bought roughly 44,000 U.S. homes in the first quarter of 2024, up 0.5% from a year earlier—the first increase since the second quarter of 2022. That is according to a new report from Redfin, the technology-powered real estate brokerage. Investor activity in the housing market is stabilizing following several years of dramatic ups and downs. Investor … [More]
Nearly 2 Out of 3 Small Business Employees Say AI Can Increase/Retain Headcount
Despite the headlines touting AI as human replacement, most small business owners and employees surveyed by Cox Business view the technology as a tool to strengthen and grow their teams. Fifty-two percent of small business owners said AI enables them to increase or retain employees, and 65% of small business employees said the same. Enhancing customer experience … [More]
Large Majority of Arizona Voters Want Bipartisan Solutions to Border Crisis; Immigration Reform
Center for the Future of Arizona (CFA), a nonpartisan, nonprofit organization with a mission of bringing Arizonans together to create a stronger and brighter future for the state, released findings today from its Arizona Voters' Agenda related to the topic of immigration. From survey research of likely Republican, Democratic, and independent/unaffiliated voters of all ages, the … [More]
Arizona Voters Want Better Planning for Future Growth; Firm Against Cuts to Core Services
The 2024 Arizona Voters’ Agenda findings highlight a clear call for leadership and sustainable solutions
Center for the Future of Arizona (CFA) unveiled key findings on the views of voters regarding state spending issues as part of its ongoing reveal of the 2024 Arizona Voters' Agenda. Through nonpartisan survey research of Republican, Democratic, and independent/unaffiliated voters of all ages, the Voters' Agenda identifies what likely voters agree on and prioritize. The new … [More]
Record-High Monthly Payments Chill Spring Home Selling Season, Declining Rates Could Boost Activity
High home prices and rates sent home sellers and buyers to the sidelines in April and the start of May—but last week’s encouraging economic news drove mortgage rates down a bit
The median U.S. monthly housing payment hit an all-time high of $2,894 during the four weeks ending May 5, up 14% from a year earlier, and home prices rose 4.5% to their own record high. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The supply of homes for sale lost momentum, with prospective sellers jittery about high … [More]
Arizona Tops List of the Best State to Be a Social Media Influencer
New research has revealed that Arizona is the best state to be a social media influencer. The study, conducted by QR Code Generator analyzed six metrics relevant to working as an influencer in each state. This included each state’s average internet speed, income taxes, average temperature, hours of sunshine, number of clear days annually, and the number of Instagram posts … [More]
Low-Income Americans Have Lost the Homebuying Progress They Made during the Pandemic
Roughly one in five (20.6%) new mortgages issued last year went to low-income Americans, bringing that group’s piece of the homebuying pie back down to where it was in 2018. That is according to a new report from Redfin, the technology-powered real estate brokerage. Low-income earners gained ground at the start of the pandemic, taking out 23.2% of all new mortgages in 2020, … [More]
Majority of Arizona Voters Agree on Key Issues Ahead of Elections
2024 Arizona Voters’ Agenda illuminates voters’ priorities and big questions for candidates
Center for the Future of Arizona (CFA) announces the release of the 2024 Arizona Voters' Agenda, developed from a new statewide survey of likely Republican, Democratic, and independent/unaffiliated voters of all ages. This vital initiative identifies the issues voters agree on across political and generational lines to inform election discourse. CFA will release the Arizona … [More]
Small Business Job Openings Rise in April
Unfilled job openings increase as labor market remains tight
According to NFIB’s monthly jobs report, 40% (seasonally adjusted) of all owners reported jobs openings they could not fill in the current period, up three points from March, which was the lowest reading since January 2021. The percent of small business owners reporting labor cost as their top small business operating problem increased one point from March to 11%, only two … [More]
Phoenix Airport System’s Economic Impact Is $44.3 Billion, Says New ASU Study
According to a new Arizona State University W.P. Carey School of Business study, the economic impact of the Phoenix Airport system has increased nearly 15% since 2016. The study, which is based on calendar year 2022 figures, shows that Phoenix Sky Harbor, Phoenix Deer Valley, and Phoenix … [More]
ASU Economists Share What’s in Store for Next Year at Annual Economic Outlook
Learn answers to your questions about the state and national economy live on Zoom
Although unemployment rates remain near record lows, U.S. and Arizona job growth has recently slowed as the Federal Reserve continues with higher interest rates to combat inflationary pressures. According to Arizona State University economists, a recession seems less likely than one year ago but remains a possibility. What industries are driving growth in today's Arizona … [More]
Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage Rates Rising, Despite Metro Phoenix Increase in New Listings
The median U.S. home-sale price hit a record $383,725 during the four weeks ending April 21, up 5.2% from a year earlier—one of the biggest jumps since October 2022. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The Phoenix Metro area saw a 25.8% year-over-year increase in new listings in this period. The average weekly … [More]
Nearly 40% of Homeowners Couldn’t Afford Their Home if They Were to Buy It Today
Nearly two of every five (38%) homeowners don’t believe they could afford to buy their own home if they were purchasing it today, according to a new report from Redfin, the technology-powered real estate brokerage. This is based on a Redfin-commissioned survey of roughly 3,000 U.S. residents conducted by Qualtrics in February 2024. Nearly three in five (59%) homeowners … [More]
Buying a Home Hits New Record as Mortgage Rates Jump, Prices Rise 5%
Daily average mortgage rates jumped to their highest level since last November after last week’s disappointing inflation report
The median U.S. home-sale price increased 5% from a year earlier during the four weeks ending April 14, bringing it to $380,250—just $3,095 shy of June 2022’s all-time high. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The average daily mortgage rate this week surpassed 7.4%, the highest level since last November, after a … [More]
Home Values Rising Fastest in Costliest Metros
Those shopping for homes this spring are feeling vastly different levels of market heat depending on where they're looking. Inventory is a critical factor, the latest market report1 from Zillow® shows. "Shoppers in the market today should expect competition, especially for attractive listings on the lower end of the price range — a rare opportunity these days," said Skylar … [More]
Final Four Success: Phoenix Achieves Another Zero Waste Event
The final numbers are in and Phoenix once again reached its goal of making Final Four Fan Fest a Zero Waste Event. During the four days of downtown events, 94.2% of all waste collected by the Public Works Department was diverted away from the landfill. A Zero Waste event is defined as one with at … [More]
Small Business Optimism Reaches Lowest Level since 2012, Says Report
The NFIB Small Business Optimism Index decreased by 0.9 of a point in March to 88.5, the lowest level since December 2012. This is the 27th consecutive month below the 50-year average of 98. The net percent of owners raising average selling prices rose seven points from February to a net 28% percent seasonally adjusted. “Small business optimism has reached the lowest level … [More]
