The typical U.S. condo sold for a record $319,000 in February, according to a new report from Redfin, the technology-powered real estate brokerage. That’s up 14.6% from a year earlier and 22.7% from two years earlier, just before the pandemic began. Condos are in demand partly because they’re a comparatively affordable option amid skyrocketing home prices and rising mortgage … [More]
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Are To-Go Alcohol Sales Still Boosting Bottom Lines for Business?
by Brianna Pacelli
After two years of fewer diners and lost revenue, the permanent ability to still sell liquor to-go is helping restaurants rebound from the COVID closures. The nationwide lockdown in March 2020 forced many restaurants to temporarily close, alter business plans or shut down entirely. As pandemic uncertainty grew, Arizona Gov. Doug Ducey signed an executive order allowing the … [More]
Housing Prices Reached a New High as Few Americans Put Homes Up for Sale, Says Report
Redfin
Housing prices jumped the most since summer 2021—up 17% year over year to a new high, according to a new report from Redfin, the technology-powered real estate brokerage. At the same time, a 7% drop in new listings kept homebuyer competition elevated amid rapidly rising mortgage rates. Nearly 3 in 5 homes were snapped up within two weeks, an all-time high, and half sold for … [More]
First-Time Buyers, Inventory Expected to Rebound in 2024
Zillow
The housing market is expected to return to pre-pandemic, 2019 norms — at least in terms of inventory and the share of purchases made by first-time home buyers — by 2024 according to a panel of housing market experts polled in the latest Zillow® Home Price Expectations Survey. The dwindling supply of homes for sale has been a key driver of the recent explosion in U.S. home … [More]
U.S. Weekly Jobless Claims Fall to Lowest Level since 1969
U.S. Department of Labor
In the week ending March 19, the advance figure for seasonally adjusted initial claims was 187,000, a decrease of 28,000 from the previous week's revised level. This is the lowest level for initial claims since September 6, 1969 when it was 182,000. The previous week's level was revised up by 1,000 from 214,000 to 215,000. The 4-week moving average was 211,750, a decrease of … [More]
EN NEGOCIOS: Cómo los vehículos eléctricos revolucionarán las necesidades de transporte de los negocios
por Edgar R. Olivo
Casi todo el mundo ha sentido el pellizco en la bomba de gasolina en los últimos meses, y los vehículos eléctricos están demostrando ser una opción de inversión más inteligente para los propietarios de pequeñas empresas. Los vehículos eléctricos (EV por sus siglas en inglés) contribuyen a un aire más limpio, costos de transporte reducidos y costos operativos más bajos en … [More]
How EVs Will Revolutionize Transportation Needs for Small Businesses
by Edgar R. Olivo
Just about everyone has felt the pinch at the gas pump over the last few months, and electric vehicles are proving to be a wiser investment option for small business owners. Electric vehicles (EVs) contribute to cleaner air, reduced transportation costs and lower operating costs compared to diesel and petrol equivalents Transitioning to electric vehicles can be a savvy move … [More]
Nearly Half of Construction Workers’ Families in Arizona Enrolled in a Safety Net Program
inbusinessPHX.com
A new research brief by the UC Berkeley Labor Center highlights the public cost of low wages and few benefits in some sectors of the construction industry in Arizona. Modeled after a national report released earlier this year, this brief is released today along with ones for Georgia, Michigan, Nevada, New Hampshire, New Jersey, New York, Oregon, and Wisconsin. In past … [More]
Business Travel Helps Organizations Get Competitive Edge, Says Report
inbusinessPHX.com
An analysis conducted by the San Diego State University School of Hospitality & Tourism Management on behalf of the American Hotel & Lodging Association (AHLA) found that in-person business travel and meetings have undeniable advantages over virtual options, and that businesses and organizations that resume business travel and meetings more quickly are likely to have a … [More]
Record Share of U.S. Homebuyers Looking to Relocate, Phoenix Is #2 Inflow
Redfin
Nearly one-third (32.3%) of Redfin.com users looked to relocate in January and February, according to a new report from Redfin, the technology-powered real estate brokerage. That’s up from 31.5% in the first quarter of 2021 and up significantly from 26% in 2019, before the pandemic began. Homebuyers are relocating at a record rate largely because remote work is … [More]
Survey Identifies Disconnect Between Phoenix Employers and Workers on Coming Back to the Office
inbusinessPHX.com
After two years of remote work, Phoenix companies say they want staff back on-site full time, however workers say they’d rather quit than return to the office full time. According to a new survey from Robert Half, as COVID-19 restrictions continue to loosen, Phoenix senior managers said they will require their teams to work: Fully in-office: 73% Hybrid of in-office … [More]
77% of Business Travelers, 64% of Workers Say Return to Business Travel More Important Than Ever, Says Survey
inbusinessPHX.com
A new survey conducted by Morning Consult on behalf of the American Hotel & Lodging Association (AHLA) finds that sentiment around business travel is shifting, with 77% of business travelers and 64% of employed Americans agreeing that it is more important than ever to bring back business travel. Nearly two-thirds of business travelers say the increased reliance on … [More]
Your House Probably Made More Than You Did Last Year
Zillow
The term "household income" was given new meaning in 2021 as a banner year for home appreciation found houses themselves earning more than the median worker in major metros across the country, according to a new study by Zillow®. "More than anything, 2021 was a year of haves and have-nots, and the chasm between the two widening throughout," said Zillow … [More]
Home Price Gains Accelerate, Hit a New Record High in February
Redfin
Home prices climbed 16% year over year to a new all-time high of $389,500 in February as the number of homes for sale fell to another new low, according to a new report from Redfin, the technology-powered real estate brokerage. The lack of inventory is holding back home sales, which were down 4% from January. “An acute shortage of homes for sale continues to stymie … [More]
Phoenix Named a Top Growth Market for Big-Box Industrial Sector
inbusinessPHX.com
Phoenix was named the No. 2 top growth market in North America for large-warehouse leasing activity, following Houston, with 10.5 percent of its inventory absorbed in 2021, according to a new report from CBRE. Transactions nationwide for big-box warehouses – those of 200,000 sq. ft. or larger – hit new highs in 2021, as retailers added safety stock to limit supply chain … [More]
Two Years In: Housing Market Transformed by Prices, Lack of Inventory
Zillow
Two years into the pandemic, the U.S. housing market is virtually unrecognizable from its previous state, with nearly half the number of homes for sale, prices higher by one-third and rising, and rents hundreds of dollars more a month, Zillow®'s latest monthly market report1 shows. None of that has curtailed demand, with listed properties flying off the market and sales … [More]
U.S. Weekly Jobless Claims Fall amid Strong Demand for Workers
U.S. Department of Labor
In the week ending March 12, the advance figure for seasonally adjusted initial claims was 214,000, a decrease of 15,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 227,000 to 229,000. The 4-week moving average was 223,000, a decrease of 8,750 from the previous week's revised average. The previous week's average was revised up … [More]
U.S. Single-Family Rent Price Growth Again Hits Record High in January
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. U.S. single-family rent prices started 2022 strong, increasing 12.6% year over year in January compared to 3.9% in … [More]
