The median U.S. monthly housing payment was $2,686 during the four weeks ending March 10, just $30 shy of last October’s all-time high, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s due to a combination of still-high mortgage rates and rising prices. While mortgage rates came down slightly this past week after … [More]
Optimism on Main Street Declines as Inflation Looms as Top Challenge
The NFIB Small Business Optimism Index decreased in February to 89.4, marking the 26th consecutive month below the 50-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important business problem in operating their business, up three points from last month and replacing labor quality as the top problem. “While … [More]
More Inventory, More Closings: 2024 Residential Housing Looks Up
Homes selling faster as days on market plummet from last year’s numbers
The single-family home inventory grew nearly 8% in February compared to meager 2023 numbers, and the number of families closing on their new homes increased 1.5% so far this year compared to the same period last year, according to the latest data from Phoenix REALTORS®. “As interest rates are dropping and buyer interest is rising, we’re starting to see more existing homeowners … [More]
Their Take: Credit Card Bill Could Gut Points and Miles Programs, Hurting Arizona’s Travel Industry
March in metro Phoenix signals the peak of our travel season: the Valley bustling with guests filling up our restaurants, hotels, hiking trails, and golf courses. With the conclusion of the WM Phoenix Open, the spotlight now shifts to the Cactus League. This annual rite of passage, consisting of 15 baseball teams, hosts over 200 games, attracting thousands of winter visitors … [More]
Annual US Home Price Growth Moves Up Gradually Again, Metro Phoenix Considered Overvalued
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for January 2024. Year-over-year home price gains reached the highest rate in a year in January, but growth is expected to begin slowing in the coming months, falling to 2.6% by early 2025. Both higher … [More]
68% of Women Lack Confidence in the Economy, Says Survey
While women have made strides toward financial equity, they still shoulder significant debt stress and are frequently concerned about the impact that the broader economy has on their financial stability. In addition, women are more likely than men to say they're unprepared for financial challenges that might come down the pike in the year ahead, according to the results of a … [More]
How Third-Party Escrow Could Help Close Business Deals
And streamline transactions
From closing a transaction to merging or selling, a well-rounded financial and legal team can help navigate pivotal moments for a business. By taking advantage of third-party escrow services, funds can be disbursed quickly, securely and in accordance with the terms of an agreement. A good escrow agent asks the right questions to make sure the transaction is effectively … [More]
U.S. Housing Market Gained $2 Trillion in Value over the Last Year, Says Report
The total value of U.S. homes jumped 5% to $47.5 trillion, the biggest gain in nearly a year, as a shortage of houses for sale propped up values
The U.S. housing market gained $2.4 trillion over the last year, bringing its total value to $47.5 trillion, according to a new report from Redfin, the technology-powered real estate brokerage. That’s based on an analysis of the Redfin Estimate for more than 90 million U.S. residential properties as of December 2023. In percentage terms, the total value of U.S. homes … [More]
Arizona among States with the Largest Fall in Job Openings, Says Study
Job markets around the world have struggled throughout 2023 due to factors such as inflation driving up costs and triggering widespread layoffs. Across the U.S. there were 1.7 million fewer jobs available in October 2023 than there were in October 2022. Side hustle experts Wealth of Geeks have analyzed the latest data from the Bureau of Labor Statistics which showed the … [More]
Gap between Black and White Renting Families Who Could Afford a Mortgage Narrowed Significantly during the Pandemic, Says Report
The gap between the share of Black and white renting families that could comfortably afford a mortgage payment shrunk significantly during the pandemic, a new Zillow® report shows. Despite this progress, a notable homeownership gap and disproportionate rate of mortgage denials persists, suggesting that other barriers not related to income are also impeding Black families' … [More]
U.S. Annual Rent Growth Remains Slow but Steady, Tucson Registered the Second-Highest Annual Gain
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. Annual single-family rent growth remained in line with pre-pandemic trends in December. San Francisco posted the largest … [More]
Housing Market Activity Lost Steam in January as Mortgage Rates Stopped Falling and Prices Kept Rising
New listings dropped 1.2% month over month on a seasonally adjusted basis, the first decline since June, according to a new report from Redfin, the technology-powered real estate brokerage. They were up 2.7% from a year earlier, but that marks a deceleration from December’s 4.2% gain. Active listings (the total number of homes for sale) fell 0.3% from a month earlier on a … [More]
Investors Bought 26% of the Country’s Most Affordable Homes in the Fourth Quarter, Highest Share on Record
Overall, investor home purchases dropped 11% from a year earlier, the smallest decline since they began falling in 2022
Real estate investors bought 26.1% of low-priced U.S. homes that sold in the fourth quarter, according to a new report from Redfin, the technology-powered real estate brokerage. That’s the highest share on record and is up from 24% a year earlier. By comparison, investors purchased 13.6% of mid-priced homes that sold (vs 14.3% a year earlier) and 15.9% of high-priced homes that … [More]
Small Business Owners Expectations for Higher Sales Declined in January
The NFIB Small Business Optimism Index decreased two points in January to 89.9, marking the 25th consecutive month below the 50-year average of 98. The net percent of owners who expect real sales to be higher declined 12 points from December to a net negative 16% (seasonally adjusted), a very negative shift in expectations. “Small business owners continue to make appropriate … [More]
People Are Moving Out of Areas with Poor Air Quality, Phoenix Net In-Migration Continues to Increase
Places facing high risk from poor air quality are losing residents faster than they used to, while places with low risk are gaining residents faster than they used to, according to a new report from Redfin, the technology-powered real estate brokerage. In 2021-2022, 1.2 million more people moved out of than into U.S. metros facing high risk from poor air quality, more than … [More]
Top 10 States to Which Gen Zers Are Moving, Arizona Barely Makes the List
Gen Z may prioritize job opportunities and sunshine over affordability when moving out of state. A new Zillow® analysis of the U.S. Census Bureau's 2022 American Community Survey (ACS) finds Gen Z interstate movers flocked to California, even as the state experienced the highest outbound migration among all out-of-state movers. Nearly 215,000 movers left California in 2022, … [More]
Job Growth Continues to Drive Annual Home Price Gains, 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 December 2023. U.S. annual single-family home price growth continued its gradual upward momentum in December 2023 to 5.5%. Northeastern states still saw the largest gains, although no states or districts … [More]
Case Study: Company Doubles in Revenue Since Moving to Scottsdale’s SkySong
A leading and fast-growing company providing AI solutions in education has found a home at SkySong that has propelled its growth. OneOrigin, a leading technology company headquartered at SkySong, The ASU Scottsdale Innovation Center, has established a global presence with operations in the Middle East and India. Specializing in advanced AI solutions, the company primarily … [More]
