Almost half of US retailers fear they will be forced to slash prices before the holidays because of the downturn in consumer spending. A poll of 500 retailers found 43 per cent have surplus goods they're desperate to offload - with fashion, homeware, baby and toddler the sectors struggling the most. 47% of merchants surveyed said the problem of excess stock is a major … [More]
Home Sales Slow as Rising Mortgage Rates Drive Up Monthly Payments; Phoenix Price Cuts Top List
The housing market continued to cool in September, though rebalancing from monumental appreciation is producing vastly different conditions depending on region and metro, according to Zillow®'s latest market report1. Affordability issues are driving the pullback in activity; steep prices mixed with high and volatile mortgage rates have stunted sales and frozen current owners in … [More]
Chandler Takes 4th Spot on Opendoor’s ‘Top 15 Cities for Families’ List
Finding a home that fits your dream list can be difficult. Add in a child (or two), and the criteria can get even tighter. Take the McGinnis family, which was on the hunt for a more spacious home that could accommodate two home offices in the Dallas area. "Working with Opendoor, my wife and I were able to buy a new home, sell our current house and skip the hassle of preparing … [More]
Arizona’s Multifamily Industry Remains Positive Despite Headwinds, Says AMA
Arizona’s multifamily industry has been one of the most robust the past few years, even during the pandemic. While there is still plenty of runway as 2023 nears, there are some headwinds that could slow down the momentum. They include a lack of housing supply and a lack of affordable housing. “You can’t go a day without hearing about the housing supply and the lack of … [More]
Homebuyers’ Down Payments Doubled during the Pandemic, Says Report
The typical U.S. homebuyer who took out a mortgage in July made a $62,500 down payment, up 13.6% from a year earlier and almost twice the median $32,917 down payment in July 2019, before the pandemic. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The combination of increased down payments and monthly mortgage payments near all-time … [More]
87% of Hotels Report Staffing Shortages, Says Survey
Nearly all hotels are experiencing staffing shortages, according to a new member survey conducted by the American Hotel & Lodging Association (AHLA). Eighty-seven percent (87%) of survey respondents indicated they are experiencing a staffing shortage, 36% severely so. The most critical staffing need is housekeeping, with 43% ranking it as their biggest … [More]
Typical Homebuyer’s Mortgage Payment Up 15% since Mid-August
The typical homebuyer’s monthly mortgage payment has climbed $337 (15%) over the past six weeks to a new high of $2,547, according to a new report from Redfin, the technology-powered real estate brokerage. The extreme volatility and recent surge in mortgage rates has caused many potential homebuyers to delay or cancel their plans to purchase a home altogether. Pending sales … [More]
Tumultuous Economy Challenges on Companies’ Consumer Relations
A potential worldwide recession may be on the horizon. Additionally, buyer priorities are changing in customer services and the overall customer experience. How will a tumultuous economic period such as this one impact the customer service industries as a whole? As we see the pandemic period ending and a potential worldwide recession on the horizon, we are starting to see … [More]
