71% of Teens Concerned About Inflation this Holiday Shopping Season, Says Survey

inbusinessPHX.com

A new survey of teens conducted for Junior Achievement by the research firm Big Village shows that most teens (71%) are concerned with how inflation will impact this holiday shopping season. The results are part of the JA Teens & Holiday Spending survey, which assesses teen consumer attitudes associated with the holiday shopping season. The survey of 1,005 13- to … [More]

How to Manage Business Finances in a High-Growth Market

by Brian Crisp

A growing market like Phoenix can present both a wide range of financial opportunities as well as challenges for business owners. Arizona holds more than 150 of the nation’s fastest-growing companies, according to the Inc. 5000 lineup, a list ranking business revenue growth over a three-year period, from 2018 to 2021. The listed businesses, mostly located in the Phoenix area, … [More]

Workplace Trends to Watch in 2023

by Jesse Meschuk

The future of work is dynamic. One would need an entire book to describe the many forces affecting trends in the workplace now and in the years to come. Unfortunately, by the time that book made it to print, its contents would be out of date. So rapid are the forces of change, many organizations in the United States are still reckoning with the effects caused by the COVID-19 … [More]

High-End Home Service Brand Offers Eco-Friendly Initiatives

by Mike Hunter

With more businesses trying to combat climate change, one franchisee at a high-end painting brand is doing just that by offering eco-friendly paint for projects to address the growing demand for sustainable services. In fact, Shanmugam Mukundan is debuting the eco-friendly paints for the franchise. Says LIME’s CEO and founder, Nick Lopez, “Shan is a top performer and a member … [More]

Feedback: December 2022

by Cathy Graham, Elizabeth Hart, Whitney Yates-Woods 

Q: What economic trends do you expect will impact your business in 2023? Cathy Graham Executive Vice President Desert Financial Credit Union Sector: Financial Services At Desert Financial, we know that when the economy impacts our members and community, our business will be impacted as well. The economic trends we expect will impact our business in 2023 are lower … [More]

U.S. Housing Market Moves Closer to Favoring Buyers; Sellers’ Markets Show No Sign of Slowing Down

inbusinessPHX.com

The U.S. housing market moved further in the direction of buyers last month as the markets that cooled the fastest in response to quickly rising interest rates and home prices continued to moderate, according to the Knock Buyer-Seller Market Index released today. At the same time, many of today's seller strongholds show no sign of slowing down and some are expected to gain … [More]

U.S. Mortgage Delinquencies Remain Near Historic Low in September

inbusinessPHX.com

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for September 2022. For the month of September, 2.8% of all mortgages in the U.S. (approximately 1.4 million loans) were in some stage of delinquency (30 days or more past due, including those in foreclosure), … [More]

Investor Home Purchases Fell 30% in Third Quarter, Phoenix Tops List

Rick McCartney

Investor home purchases fell 30.2% year over year nationwide in the third quarter, according to a new report from Redfin, the technology-powered real estate brokerage. That is the largest decline since the Great Recession aside from the second quarter of 2020, when investor activity plummeted due to the onset of the pandemic. It outpaced a 27.4% drop in overall home purchases … [More]

Phoenix Retailers Adjust to Pandemic-Era Changes with New Strategies for the 2022 Holiday Shopping Season

inbusinessPHX.com

The Phoenix retail real estate landscape has seen a 2% point decrease in vacancy since the third quarter of last year, highlighting the desire of Valley residents to return to pre-pandemic shopping habits, which is made easier thanks to the region’s warmer temperatures and plethora of outdoor shopping locations Retailers have applied lessons learned from the past two years … [More]

Pending Home Sales Post Record Drop in October as Deal Cancellations, Price Cuts Hit Record High

inbusinessPHX.com

Pending home sales fell the most on record in October and deal cancellations and price cuts hit record highs, according to a new report from Redfin, the technology-powered real estate brokerage. Pending sales dropped 32.1% year over year last month, the largest decline since at least 2013, when Redfin’s records begin. Nearly 60,000 home-purchase agreements fell … [More]

Home Prices Plateau as High Mortgage Rates Chill Market, Phoenix among Top Markets for Home Value Retention

inbusinessPHX.com

Buyers and sellers are both stepping away as skyrocketing mortgage rates have settled the housing market into a more balanced state, according to the latest Zillow® market report1. Home values remained nearly flat in October as new inventory waned and sales continued to fall from the pandemic frenzy. "Home prices in October remained in … [More]

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

inbusinessPHX.com

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]

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