Midway through 2022, the hotel industry continues to make strides toward recovery, with nominal hotel room revenue and state and local tax revenues projected to exceed 2019 levels by the end of this year, according to the American Hotel & Lodging Association (AHLA)’s 2022 Midyear State of the Hotel Industry Report. Hotel room revenue is projected to surpass $188 billion … [More]

The NFIB Research Center released a new survey assessing the impact inflation is having on small businesses. Overall, over half (56%) of small employers reported that inflation is having a substantial impact on their business while about a third (35%) reported a moderate impact. Three quarters (75%) of owners reported that inflation pressure is getting worse, a quarter (25%) … [More]

Nationwide, 49.9% of home offers written by Redfin agents faced competition on a seasonally adjusted basis in June, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s the lowest share since May 2020 and the first time the bidding-war rate has been below 50% since that same month, when the housing market was at a near … [More]

Four U.S. metros experienced double-digit inflation in the second quarter–Phoenix, Atlanta, Tampa, FL and Miami–and all four were among the most popular migration destinations for Redfin.com users, according to a new report from Redfin, the technology-powered real estate brokerage. These destinations have the highest inflation rates in the U.S. partly because they’re attracting … [More]

Arizona’s forward-thinking policies have created a welcoming environment for innovative companies, attracting industry leaders that prioritize sustainable practices. Arizona ranked no. 4 in the nation in Site Selection Magazine’s Sustainability Rankings. The Phoenix Metro also ranked no. 2 in the Mountain Region among major metropolitan statistical areas for the second year in … [More]

A record 32.6% of Redfin.com users nationwide looked to move from one metro to another in the second quarter, up slightly from 32.3% in the first quarter and roughly 26% before the pandemic, according to a new report from Redfin, the technology-powered real estate brokerage. Net inflow markets include Phoenix as the number three hottest inflow market, with the greatest number … [More]

A new study shows Arizona is the No. 6 hottest market for new residential construction despite home affordability in the U.S. falling to the lowest levels ever recorded after plummeting by 29% over the last year. Given the 2008 financial crisis was largely due to a housing bubble, housing metrics are more important than ever as an economic indicator as America tries to avoid … [More]

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment. The increase was broad-based, with the indexes for gasoline, shelter, and … [More]

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2022. “Slowing home price growth reflects the dampening consequence of higher mortgage rates on housing demand, which was the intention.” Though U.S. home price growth relaxed slightly in May … [More]