Over the past years, global PC and laptop ownership and usage have significantly decreased, mainly replaced by smartphones. The downsizing trend continued this year, with PC shipments seeing a double-digit drop. According to data presented by SportsLens.com, global PC shipments totaled 56.9 million units in Q1 2023, almost 30% less than in the same quarter a year ago. PC … [More]
Arizona Manufacturers Tally a Staggering $77.6B in Sales for 2022, Says Report
Arizona manufacturers’ directly and indirectly sold $77.6 billion worth of goods and services in 2022, up nearly 40% from 2017, according to a new report by the Common Sense Institute Arizona (CSI), a nonpartisan research institute employing precise econometric analyses to bridge the gap between economic development and public policy. At approximately 9% of the state GDP and … [More]
A Decade in Residential Construction in Arizona: Metro Phoenix Ranks Fourth in Top 10 Largest Metros with the Most Permits Issued in 2022
The most recent banking troubles, rising inflation, and prohibitive mortgage rates are some of the issues affecting the housing market at the moment. And the latest data supports the fact that the market is losing momentum: While the number of completed units has increased every year since 2012, permits and housing starts are dropping nationwide. Arizona follows the trend, with … [More]
Single-Family Home Rents Continue to Rise, Phoenix Up 14%
Rentometer has released their Q1 2023 Rent Report for three-bedroom (3-BR) houses that are single-family rentals (SFRs). Rentometer collects data for all residential asset classes, but this report is focused on SFR because they are one of, if not the most, active residential rental asset classes today. Rentometer's president, Mike Lapsley, commented that … [More]
Home Prices Fell 3% in March–Biggest Annual Drop in Over a Decade, Competition Up
The median U.S. home price fell 3.3% in March to $400,528, the largest year-over-year drop since 2012, according to a new report from Redfin, the technology-powered real estate brokerage. Pandemic boomtowns and pricey Bay Area markets led the price declines in March. In Boise, ID, prices fell 15.4% from a year earlier, more than any other U.S. metro area Redfin analyzed. … [More]
Dips in March Home Sales and Prices Point to Stronger Potential Ahead, Says Report
News that Maricopa County led the nation in population growth last year bolstered Phoenix REALTORS expectations for solid sales through the rest of 2023. March residential real estate numbers are showing stable and slight upswing potential, according to a recent report from Phoenix REALTORS. “We’re in a unique situation in Maricopa County. Nearly 200 people daily are moving … [More]
Report Shows Rents Post First Annual Decline in Three Years, Phoenix Down 2.1%
The median U.S. asking rent fell 0.4% year over year to $1,937 in March—the first annual decline since March 2020 and the lowest median asking rent in 13 months, according to a new report from Redfin, the technology-powered real estate brokerage. By comparison, rents were up 17.5% one year earlier, in March 2022. The median asking rent in March was unchanged from … [More]
U.S. Consumer Prices Rose 5% in the Year through March, a Sign Inflation Is Cooling
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in March on a seasonally adjusted basis, after increasing 0.4 percent in February, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment. The index for shelter was by far the largest contributor to the monthly … [More]
Small Business Optimism Declines Slightly in March, Says Report
NFIB’s Small Business Optimism Index decreased 0.8 points in March to 90.1, marking the 15th consecutive month below the 49-year average of 98. Twenty-four percent of owners reported inflation as their single most important business problem, down four points from last month. Small business owners expecting better business conditions over the next six months remain at a net … [More]
U.S. Employers Added 236,000 Jobs in March, Cooling the Labor Market
Total nonfarm payroll employment rose by 236,000 in March, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, government, professional and business services, and health care. This news release presents statistics from two monthly surveys. The household … [More]
Want to Get the Most Business Out of Baseball? Win More Games
Baseball isn’t just a great sport to play and watch – it’s also an economic engine. Cities often help major league teams to build stadiums in hopes of boosting economic activity in the surrounding neighborhoods. But there’s one ingredient that really brings in the bucks: a winning team. Back in 1994, the Maricopa County Board of Supervisors voted for a quarter-point increase … [More]
U.S. Annual Home Price Growth Continues Single-Digit Slide in February, 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 February 2023. While annual U.S home price growth rose for the 133rd straight month in February, the 4.4% increase was the lowest recorded since 2019. Eight states and districts recorded annual home price … [More]
Early-Stage Homebuying Demand Hits Highest Level Since May, Says Report
House hunters are wading into the market as mortgage rates and home prices continue to decline, according to a new report from Redfin, the technology-powered real estate brokerage. Mortgage-purchase applications increased for the fourth week in a row and Redfin’s Homebuyer Demand Index—a seasonally adjusted measure of requests to tour homes, make an offer and/or talk to a … [More]
Determining Strategic Asset Allocation
Establishing goals and risk tolerance within a given time frame
A strategic investment strategy backed by a comprehensive financial plan can help provide comfort in a volatile market. Below, we explore how asset allocation should be customized to an individual’s goals and risk appetite. Establishing Goals One of the most important steps to building asset allocation is to establish goals, along with a timeline, with one’s financial team. … [More]
Arizona’s Workforce Remains Strong but Small Businesses Struggle to Hire
As a result of the COVID-19 pandemic, Arizona’s workforce has been in a state of transition. Despite the turbulence, the state has managed to maintain steady job growth with positive indicators in various sectors, including healthcare and education. In fact, the unemployment rate in Arizona is at an all-time low of 3.9%, which is lower than the national average of 4.6%. … [More]
U.S. Consumer Confidence Increased Slightly in March
The Conference Board Consumer Confidence Index® increased slightly in March to 104.2 (1985=100), up from 103.4 in February. The Present Situation Index—based on consumers' assessment of current business and labor market conditions—decreased to 151.1 (1985=100) from 153.0 last month. The Expectations Index—based on consumers' short-term outlook for income, business, and labor … [More]
Half of Employed Consumers Have Supplemental Income Sources in Addition to Their Paychecks
LendingClub Corporation, the parent company of LendingClub Bank, America's leading digital marketplace bank, today released findings from the 20th edition of the Reality Check: Paycheck-to-Paycheck research series, conducted in partnership with PYMNTS. The Supplemental Income Edition examines how U.S. consumers are turning to alternative sources of income to supplement what … [More]
Arizona Adds New Tech Jobs, Tech Businesses in 2022, Says Report
Arizona added more than 5,000 new tech jobs to its growing ranks of tech workers in 2022, according to a new report released today by CompTIA, the nonprofit association for the information technology (IT) industry and workforce. CompTIA's annual "State of the Tech Workforce" shows that net tech employment1 in Arizona grew by 2.6% in 2022, with the number of people employed … [More]
