The median U.S. asking rent rose 0.3% year over year to $1,967 in April—the 11th-consecutive month of slowing growth, according to a new report from Redfin, the technology-powered real estate brokerage. That compares to a revised increase of 1.4% one month earlier and a 16% increase one year earlier. On a month-over-month basis, the median asking rent fell 0.2%, which … [More]
Bettors in Arizona Wagered Over $609M on Sports in February
Bettors in Arizona wagered over $609 million on sports in February of 2023, according to a new report by the Arizona Department of Gaming. This represents nearly a 24% increase when compared to February of 2022. “The second month of 2023 saw significant levels of sports betting in the state, with over $117 million more when compared to February of 2022,” said Jackie Johnson, … [More]
AAED Releases Its State of Arizona Economic Development Survey: Economy, Water, Housing Affordability among Key Concerns
The Arizona Association for Economic Development (AAED) announced the results of its State of Arizona Economic Development survey at its recent spring conference in Tucson. AAED surveyed its membership of more than 500 economic development practitioners and those that provide goods and services from the private sector. With the economy on everyone’s mind, the survey showed … [More]
Design-Build Construction Firm Releases Q2 Construction Delivery Outlook Report
Leading design-build firm LGE Design Build released its second quarter Construction Delivery Outlook Report that monitors and analyzes the economic uncertainty and changes within construction labor, supply chain, material pricing, inflation and overall demand. “The recent turbulent years have taught us that the construction industry is resilient but that we need to be … [More]
Self Storage Sales Market Stays Strong with $10B in Sales, Still Attracting Investors
The self storage market, typically a haven for savvy investors, remained high in 2022. More than 73.4 million square feet of storage space traded last year, for a combined total of $10 billion. That’s according to our most recent industry sales report in which we wanted to gauge the state of the sales market and sought to identify the top self storage markets based on … [More]
9 in 10 Small Businesses Face Hiring Challenges
There are 33.2 million small businesses in America, which have generated nearly two-thirds of all new jobs between 1995-2021, according to the U.S. Chamber of Commerce. Yet, a persistent shortage of skilled workers is hitting them especially hard. With May being Small Business Month, I thought it could be a prime opportunity to spotlight the challenges small businesses face … [More]
Job Openings Remain on Main Street, 92% of Owners Report No Qualified Applicants for Open Positions
Small business owners continue to struggle to find workers, with 45% (seasonally adjusted) of all owners reporting job openings they could not fill in the current period. The share of owners with unfilled job openings exceeds the 49-year historical average of 23%. Of those hiring or trying to hire, 92% of owners reported few or no qualified applications for the positions they … [More]
March U.S. Annual Home Price Growth Dips to Lowest Rate in More Than a Decade, 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 March 2023. U.S. home price growth fell to 3.1% in March, the lowest rate of appreciation since the spring of 2012. While home price growth rose for the 134th consecutive month, it declined from one year … [More]
Position Your Business for Acquisition
It takes time to develop and execute a strategic plan
Many entrepreneurs launch their companies with an eye toward eventually selling them. But preparing a business for an acquisition is not as simple as making the decision to sell. The process can be complex and take several years, depending on objectives and the state of the business, which can leave the founders or owners unsure of where to begin. Regardless of company or … [More]
Out-of-Town Moves Remain Popular as High Housing Costs Push Homebuyers to Affordable Areas, Phoenix Still a Top Destination
The number of Redfin.com home searchers looking to relocate to a new metro fell 4.2% from a year earlier in the first quarter, compared with a 15.6% drop for those looking to move within their current metro. That’s according to a new report from Redfin, the technology-powered real estate brokerage. Those are the biggest drops in Redfin’s records, which go back through … [More]
Global PC Shipments Plunged 30% YOY to 56.9M Units in Q1 2023
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]
