Maricopa County No. 1 Again for Talent Attraction

inbusinessPHX.com

A new report ranks Arizona and Maricopa County as national leaders for adding skilled jobs and workers over the last five years. For the fifth time in the last six years, Maricopa County claimed the no. 1 spot in the Talent Attraction Scorecard released by Lightcast, a global leader in labor market analytics. New this year, the report ranked states for their talent attraction … [More]

Annual Home Price Growth Slows to 3%, Says Report

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Home-sale prices rose 3.2% year over year during the four-week period ending November 6, the smallest increase since July 2020, according to a new report from Redfin, the technology-powered real estate brokerage. The median home sale price has fallen 8.4% from its all-time high in June, when the average 30-year fixed mortgage rate was over a point lower than it is now. … [More]

Pandemic Boomtowns Phoenix and Miami Have among the Highest Inflation Rates in the U.S., Says Report

inbusinessPHX.com

The four U.S. metropolitan areas with the highest inflation rates in the third quarter are migration hotspots, according to a new report from Redfin, the technology-powered real estate brokerage. Phoenix, Atlanta, Tampa, FL and Miami experienced double-digit inflation and all ranked near the top of Redfin’s list of most popular destinations for relocating … [More]

Inflation Shows Signs That It Is Cooling

U.S. Bureau of Labor Statistics

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.7 percent before seasonal adjustment. The index for shelter contributed over half of the monthly all items … [More]

Phoenix Ranked #6 Most Festive Holiday U.S. City

inbusinessPHX.com

With the holidays just around the corner and the sun setting earlier and earlier, it’s the perfect time to brighten your home with a sparkling light display. Whether you’re gathering for a celebration or just enjoying the coziness of home, decorating with lights is a tried and true way to make home a welcoming spot in winter. If you look forward to the lights every winter, … [More]

Small Businesses Struggle with Inflation, Labor Shortages

inbusinessPHX.com

NFIB’s Small Business Optimism Index declined 0.8 points in October to 91.3, which is the 10th consecutive month below the 49-year average of 98. Thirty-three percent of owners reported that inflation was their single most important problem in operating their business, three points higher than September’s reading and four points lower than July’s highest reading since the … [More]

Higher Share of Americans Plan Holiday Hotel Stays This Year, Says Survey

inbusinessPHX.com

The share of holiday travelers who plan to stay in hotels is up this year, and hotels are the top lodging choice among those certain to travel for leisure in the next three months, according to a new national Hotel Booking Index Survey commissioned by the American Hotel & Lodging Association (AHLA) and conducted by Morning Consult. AHLA’s Hotel Booking Index (HBI) is a … [More]

58 Percent of Teens Would Start a Business to Address a Societal Need, Even If It Meant Making Less Money, Says Survey

inbusinessPHX.com

A new survey by Junior Achievement USA and EY shows that most teens (58%) would be likely to start a business that addresses a societal need, even if it meant making less money. In total, three-in-four teens (75%) would be likely to consider becoming an entrepreneur. However, more than half (55%) say they would need more information on how to be successful, and nearly a third … [More]

Chip Shortage Underscores Opportunity to Strengthen Strategic Relationships, Says Avnet Survey

inbusinessPHX.com

Following several years of supply chain disruption and uncertainty, engineers are strengthening their reliance on strategic relationships with partners, such as distributors, as they seek to mitigate the complexities of the global components market. The second annual Avnet Insights survey, which keeps a pulse on trends and market forces amid the electronics and components … [More]

Phoenix Industrial Market Remains Strong, Posting Robust Demand and Rent Increases in Q3

inbusinessPHX.com

The Phoenix industrial real estate market, already one of the strongest in the U.S., closed a very robust Q3 2022, as rent rates continued to increase, more space was added to the construction pipeline, and vacancy remained low, according to new research from Transwestern Real Estate Services (TRS). Transwestern tracks industrial properties in nine critical Phoenix … [More]

While Buyer Demand Cools, Home Prices Dropped by 0.5% in September from the Previous Month

inbusinessPHX.com

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for September 2022. U.S. home price growth continued to relax on a year-over-year basis in September, posting an 11.4% increase. As in previous months, Southeastern states put up significantly higher price … [More]

98 of the 100 Largest U.S. Markets Saw Home Prices Decline in September, Phoenix Tops for Buyers

inbusinessPHX.com

The cooling trend that is engulfing the U.S. housing market is expected to continue with more markets seeing home prices decline by this time next year as the shift to a buyer's market continues to take hold, according to the Knock Buyer-Seller Market Index released today. The Index, which analyzes key housing market metrics to measure the degree to which the nation's 100 … [More]

Christopher Collins, Common Ground Culinary

from Christopher Collins

Classic or creative, the culinary scene in Greater Phoenix happily serves a population that continues to make eating out a favorite entertainment choice. The industry here in peppered with individual chef-driven restaurants and innovative organizations, all bringing to life their unique approach. I believe the culinary industry here in Arizona is so successful because of the … [More]

Feedback: November 2022

by Jason Church, Jonathan Levy, Kevin Pavlov

Q: Arizona ranks among the top 10 states to own an electric car, according to a recently released study from SmartAsset. In your view from within the electric car industry, what factors make this such a strong market? Jason Church Chief Operating Officer Courtesy Automotive Group Sector: Retail There are a few key factors why Arizona is a strong market for electric … [More]

Recycling Programs in the Cannabis Industry

by Mayra Medina

Each year, Americans throw away 1,200 pounds of organic waste while recycling only 67.2 million tons of 267.8 million tons of recyclable material, according to RTS. Given state-by-state packaging requirements in the cannabis industry, it’s no secret that excessive cannabis packaging waste plays a role in this number. According to a study from Re Waste, an estimated 12.7 to 14.1 … [More]

Finance & Accounting: Strategies to Recession-Proof One’s Business

by Cristina Fumagalli and Caren M. Cacciatore

Despite some positive signs in the Arizona labor market, growth may slow in the next couple of years. Unemployment is low, prices on housing and consumer goods are high, and average consumers are cutting back on spending as their paychecks fall behind expenses. Given this, how might smart leaders prepare their businesses?  Keep Perspective  The economy works in cycles. A … [More]

U.S. Serious Mortgage Delinquency Rate Returns to Pre-Pandemic Low in August, Says Report

inbusinessPHX.com

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for August 2022. For the month of August, 2.8% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 1.2 percentage point … [More]

Small Business Owners Are Worried about the Future of the Economy, Says New Survey

inbusinessPHX.com

Thumbtack, the modern home management platform, announced results from its 2022 Small Business Friendliness Survey, where small business owners evaluated federal, state and local government support of small businesses. Surveying more than 2,800 small business owners, the survey found a stark decline in optimism around the economy compared to years past, with nearly half (49 … [More]

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