Higher Share of Americans Plan Holiday Hotel Stays This Year, Says Survey

inbusinessPHX.com

The share of holiday travelers who plan to stay in hotels is up this year, and hotels are the top lodging choice among those certain to travel for leisure in the next three months, according to a new national Hotel Booking Index Survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult. AHLA’s Hotel Booking Index (HBI) is a … [More]

58 Percent of Teens Would Start a Business to Address a Societal Need, Even If It Meant Making Less Money, Says Survey

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A new survey by Junior Achievement USA and EY shows that most teens (58%) would be likely to start a business that addresses a societal need, even if it meant making less money. In total, three-in-four teens (75%) would be likely to consider becoming an entrepreneur. However, more than half (55%) say they would need more information on how to be successful, and nearly a third … [More]

Chip Shortage Underscores Opportunity to Strengthen Strategic Relationships, Says Avnet Survey

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Following several years of supply chain disruption and uncertainty, engineers are strengthening their reliance on strategic relationships with partners, such as distributors, as they seek to mitigate the complexities of the global components market. The second annual Avnet Insights survey, which keeps a pulse on trends and market forces amid the electronics and components … [More]

Phoenix Industrial Market Remains Strong, Posting Robust Demand and Rent Increases in Q3

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The Phoenix industrial real estate market, already one of the strongest in the U.S., closed a very robust Q3 2022, as rent rates continued to increase, more space was added to the construction pipeline, and vacancy remained low, according to new research from Transwestern Real Estate Services (TRS). Transwestern tracks industrial properties in nine critical Phoenix … [More]

While Buyer Demand Cools, Home Prices Dropped by 0.5% in September from the Previous Month

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CoreLogic, a leading global property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for September 2022. U.S. home price growth continued to relax on a year-over-year basis in September, posting an 11.4% increase. As in previous months, Southeastern states put up significantly higher price … [More]

98 of the 100 Largest U.S. Markets Saw Home Prices Decline in September, Phoenix Tops for Buyers

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The cooling trend that is engulfing the U.S. housing market is expected to continue with more markets seeing home prices decline by this time next year as the shift to a buyer's market continues to take hold, according to the Knock Buyer-Seller Market Index released today. The Index, which analyzes key housing market metrics to measure the degree to which the nation's 100 … [More]

Christopher Collins, Common Ground Culinary

from Christopher Collins

Classic or creative, the culinary scene in Greater Phoenix happily serves a population that continues to make eating out a favorite entertainment choice. The industry here in peppered with individual chef-driven restaurants and innovative organizations, all bringing to life their unique approach. I believe the culinary industry here in Arizona is so successful because of the … [More]

Feedback: November 2022

by Jason Church, Jonathan Levy, Kevin Pavlov

Q: Arizona ranks among the top 10 states to own an electric car, according to a recently released study from SmartAsset. In your view from within the electric car industry, what factors make this such a strong market? Jason Church Chief Operating Officer Courtesy Automotive Group Sector: Retail There are a few key factors why Arizona is a strong market for electric … [More]

Recycling Programs in the Cannabis Industry

by Mayra Medina

Each year, Americans throw away 1,200 pounds of organic waste while recycling only 67.2 million tons of 267.8 million tons of recyclable material, according to RTS. Given state-by-state packaging requirements in the cannabis industry, it’s no secret that excessive cannabis packaging waste plays a role in this number. According to a study from Re Waste, an estimated 12.7 to 14.1 … [More]

Finance & Accounting: Strategies to Recession-Proof One’s Business

by Cristina Fumagalli and Caren M. Cacciatore

Despite some positive signs in the Arizona labor market, growth may slow in the next couple of years. Unemployment is low, prices on housing and consumer goods are high, and average consumers are cutting back on spending as their paychecks fall behind expenses. Given this, how might smart leaders prepare their businesses?  Keep Perspective  The economy works in cycles. A … [More]

U.S. Serious Mortgage Delinquency Rate Returns to Pre-Pandemic Low in August, Says Report

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CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for August 2022. For the month of August, 2.8% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 1.2 percentage point … [More]

Small Business Owners Are Worried about the Future of the Economy, Says New Survey

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Thumbtack, the modern home management platform, announced results from its 2022 Small Business Friendliness Survey, where small business owners evaluated federal, state and local government support of small businesses. Surveying more than 2,800 small business owners, the survey found a stark decline in optimism around the economy compared to years past, with nearly half (49 … [More]

Half of Retailers Fear They Will Be Forced to Slash Prices before the Holidays

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Almost half of US retailers fear they will be forced to slash prices before the holidays because of the downturn in consumer spending. A poll of 500 retailers found 43 per cent have surplus goods they're desperate to offload - with fashion, homeware, baby and toddler the sectors struggling the most. 47% of merchants surveyed said the problem of excess stock is a major … [More]

Americans Are Spending an Extra $18,803 to Secure Car Models They Want, Survey Reveals

inbusinessPHX.com

As many Americans will be all too aware, the price of just about everything, including vehicles, has skyrocketed over the past year. Indeed, 2021 witnessed the largest 12-month increase for cars in the history of the consumer price index, and prices have continued to increase in 2022. While the market surge has has been great for auto groups, potential buyers have found … [More]

Home Sales Slow as Rising Mortgage Rates Drive Up Monthly Payments; Phoenix Price Cuts Top List

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The housing market continued to cool in September, though rebalancing from monumental appreciation is producing vastly different conditions depending on region and metro, according to Zillow®'s latest market report1. Affordability issues are driving the pullback in activity; steep prices mixed with high and volatile mortgage rates have stunted sales and frozen current owners in … [More]

First-Time Home Buyers are Back, Despite Affordability Challenges

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First-time home buyers have returned to the housing market and those who can afford a home are finding success after years of setbacks. The share of buyers purchasing a home for the first time has rebounded to pre-pandemic levels. First-time buyers now represent 45% of all buyers, up from 37% of buyers surveyed last year, according to Zillow's 2022 Consumer Housing Trends … [More]

Chandler Takes 4th Spot on Opendoor’s ‘Top 15 Cities for Families’ List

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Finding a home that fits your dream list can be difficult. Add in a child (or two), and the criteria can get even tighter. Take the McGinnis family, which was on the hunt for a more spacious home that could accommodate two home offices in the Dallas area. "Working with Opendoor, my wife and I were able to buy a new home, sell our current house and skip the hassle of preparing … [More]

Housing Report for September 2022 Shows Minimal Listing Price Decreases in Phoenix

inbusinessPHX.com

Typical for this time of year, September home sales declined 9.7% from August across the report's 53 metro areas. That led to inventory climbing to two months' supply for the first time in nearly two years – an encouraging sign of a more balanced market to come. September's Median Sales Price of $400,000 was 6.1% lower than the year-high of $426,100 in June. … [More]

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