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]
Housing Markets in West Coast Hubs and Zoom Towns Cooling Fastest
Housing markets in tech hubs and pandemic migration hotspots are cooling more rapidly than other parts of the U.S as the tech sector falters and mortgage rates remain elevated, according to a new report from Redfin, the technology-powered real estate brokerage. Austin, TX cooled fastest over the last year as the U.S. housing market descended from its pandemic-era boom. … [More]
Commercial Rent Problems Surge 6%, Highest Jump in 5 Months
Mirroring recent economic turmoil in the U.S., Alignable’s March Small Business Rent Report, released today, shows that rent delinquency rates have just experienced the highest surge in five months, jumping six percentage points from 32% in February to 38% in March, a record high for 2023 so far. Rising interest rates and rents, still-high inflation, and slumping revenues … [More]
Upsizing from Condo to House in Major Arizona Cities
There’s no denying that work from home has amplified homeowners’ dream for more space – but high costs and inflation are making it hard to realize. New data reveals that upsizing from a condo to a single-family home is very much possible – and even profitable – in 20 of the 200 largest cities in the U.S. To see what cities make upsizing from condo to house easier and where … [More]
Soaring Inflation, High Interest Rates Are Forcing Americans Into Risky Financial Moves to Make Ends Meet, Survey Finds
Record-high inflation and soaring interest rates are stretching the limits of household balance sheets, leaving many consumers to resort to extreme measures that can have long-term implications on their financial health, according to the latest study by Achieve, the leader in digital personal finance. The study, Financial Strategies for Fighting Inflation, is … [More]
Arizona Metro One of Best-Equipped for EVs in the Country, Says Study
The electric revolution marches on, with the US set on achieving new growth milestones every year. Changes in global transportation and mobility are being driven by the issue of climate change, with the shift to electric vehicles (EVs) viewed as a vital point in decreasing carbon emissions. Recently, StorageCafe conducted a study to identify the best-equipped metro areas for … [More]
Homebuyers Are in the Game, But Interest Rates Are Keeping Sellers on the Bench
Mortgage rates — both their high levels and their wild swings — are making life difficult for both buyers and sellers, according to Zillow's® latest market report1. Relatively high rates have brought new listings down to record lows, leaving buyers with limited options. Any dips in mortgage rates are stimulating demand and stiffening competition, but they have been … [More]
Home Sales Show Strong Increase and Slight Rise in Median Sales Price Over January
Despite being down 24.4% year over year, February home sales increased 16.8% from January. That was the largest month-over-month increase in 11 months and ended a five-month streak of sales declines that began in September. The median sales price of $385,000 increased 0.6% over January, ending a seven-month streak of price declines since the peak of $426,000 in June 2022. … [More]
Nearly Half of Home Sellers Are Making Concessions to Woo Buyers, Says Report
A record 13% of home sales include a price cut and a final sale price below the list price in addition to concessions, which often include money toward repairs and mortgage-rate buydowns Home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending February 28, according to a new report from Redfin, the … [More]
SBA Research Reports Great Increase in Small Business Exporters
The U.S. Small Business Administration (SBA) released new findings from a commissioned study on the Total Addressable Market (TAM) of small business exporters in America. Among the key findings from the study is new data, based on recent business surveys, that places the number of exporting small businesses at 1.3 million – an almost fivefold increase over the estimates … [More]
CPI Rises 6% in February as Shelter Increases, Inflation Falls as Expected
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in February on a seasonally adjusted basis, after increasing 0.5 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.0 percent before seasonal adjustment. The index for shelter was the largest contributor to the monthly all … [More]
