Elevated mortgage interest rates, still-high home prices and falling rents have made it more affordable to rent than buy in all of the top 50 U.S. metros, according to the Realtor.com® Rental Report released today. In February, the mortgage payment on a starter home in the largest metros cost $1,027 (+60.1%) more than the monthly rent in those markets, on average. At the same … [More]
Department of Gaming Reports $28.6M in Tribal Gaming Contributions for Q3
The Arizona Department of Gaming (ADG) announced $28,578,515 in tribal gaming contributions to the Arizona Benefits Fund for the third quarter of Fiscal Year (FY) 2024. This amount represents an approximate 3.5 percent increase when compared to the same quarter of FY 2023. “In the third quarter of Fiscal Year 2024 Arizona’s tribal gaming industry maintained its steady … [More]
Arizona Comes in Fifth of States Where Businesses Struggle with Debt the Most
A new study has revealed that businesses in Georgia have been granted the highest average in loans compared to small businesses in any other state. Arizona businesses have the fifth highest average loans at $705,000. A study by business formation experts, CreditDonkey, analyzed government data from the U.S. Small Business Administration lender reports from 2020-2023 … [More]
Home Flipping Plummets across U.S., Phoenix Tops List
ATTOM, a leading curator of land, property, and real estate data, released its year-end 2023 U.S. Home Flipping Report, which shows that 308,922 single-family homes and condos in the United States were flipped in 2023. That was down 29.3 percent from 436,807 in 2022 – the largest annual drop since 2008. The report further reveals that as the number of homes flipped by … [More]
Arizona Takes Tenth in States Most Interested in Starting a Business, Says Study
Arizona is tenth in the list of the states most interested in starting a business, according to new study. New research has revealed the states most interested in starting a business, with Wyoming taking the top spot. Business valuation experts at Eton Venture Services analyzed data from the United States Census Bureau on the number of business applications per … [More]
Phoenix Ranked as the Second-Largest Data Center Market in the U.S.
Metro Phoenix prevails as the second-largest data center market in the nation, according to JLL’s new H2 2023 North American Data Center Report. Bolstered by its availability and affordability of power, and its available land for new development, the market during the second half of 2023 completed leases for 748MW of new data center capacity and has 2.8 million square feet … [More]
Arizona Earns a Top Spot in U.S. Business Growth Study
New research has revealed the most entrepreneurial states, with Arizona ranking tenth on the list. The study, conducted by QRFY, analyzed data from the US Bureau of Labor statistics to find the number of new businesses in 2022 compared to 2023; each state was ranked according to the difference rate. Top 10 Most Entrepreneurial … [More]
Arizona among States with the Highest University Enrollment, Study Reveals
New research has revealed which US states had the highest university enrollment this academic year, with Arizona ranking fourth on the list. Personal finance experts Wealth of Geeks analyzed data from the National Student Clearinghouse on the number of undergraduates across the US who started a degree in 2023, to determine which state has the highest university … [More]
Scottsdale Airpark Remains Focal Point of Growth
Area Attracts High Profile Companies and Impressive New Developments
The Greater Scottsdale Airpark area continues to be a focal point for growth and business relocation, according to a report released by Colliers in Arizona. Nationally recognized companies are moving operations there and sizable new developments are being built in this prestigious area of metropolitan Phoenix. “We have been tracking the Scottsdale Airpark submarket since … [More]
Arizona Is Making Business Connections with Ireland
More than 15 companies headquartered in Arizona have made business connections with Ireland by establishing an office, development center or lab to expand and grow international business. These include such leaders as Standard Aero, MSR-FSR, ON Semiconductor, transACT, Microchip Technology and companies in the aviation sector. transACT: Headquartered in Phoenix, Transact … [More]
Survey Unveils 2024 State of Business Growth
Keap, the leader in small business automation software, announces today the findings of its 2024 State of Business Growth survey, providing a data-driven look at the status of small and mid-market businesses. This comprehensive report sheds light on the differences between businesses that met or exceeded their goals in 2023. The 2024 State of Business Growth survey analyzed … [More]
Home Listings Surge, Luring Some Buyers Off the Fence, but Near-Record Housing Costs Price Others Out
New listings rose 13% from a year earlier, their biggest increase in nearly three years, but home prices and mortgage rates remain elevated
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]
