New research into the factors contributing to an enjoyable airport experience for travelers has revealed a ranking of the best large hub airports in the US –with Phoenix Sky Harbor International Airport ranked second. The study by the online casino website Nieuwe Casino analyzed various reviews, facilities, and Google search volumes of the 31 busiest airports in the US … [More]
Consumers Plan to Spend Big This Holiday Season
JLL’s 2024 Holiday Shopping Report reveals that budgets will surge by more than 30% this holiday season
Driven by cooling inflation and the revival of physical storefronts, consumer spending habits will see significant shifts this holiday season compared to 2023, according to JLL’s 2024 Holiday Shopping Survey. After surveying over 1,000 consumers to understand how, when, and where shoppers plan to spend their dollars this holiday season, JLL reveals an expected 31.7% uptick in … [More]
Main Street Owners Feel More Confident as They Enter the Holiday Season; Arizona Voters Go Pro-Small Business
The NFIB Small Business Optimism Index rose by 2.2 points in October to 93.7. This is the 34th consecutive month below the 50-year average of 98. The Uncertainty Index rose seven points to 110, the highest reading recorded. A seasonally adjusted net negative 20% of small business owners reported higher nominal sales in the past three months, the lowest reading since July … [More]
The Number of Renter Households Is Growing Three Times Faster Than Homeowner Households
The number of renter households rose 2.7%, in the third quarter year over year, to a record 45.6 million. That’s according to a new report from Redfin, the technology-powered real estate brokerage. That rate of growth is three times faster than the 0.9% increase in homeowner households, which now total a record 86.9 million. The 2.7% increase—representing 1.18 million … [More]
Annual Home Price Slowdown Continues, Says Report
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index and HPI Forecast for September 2024. U.S. home price growth continued to cool, slowing to a 3.4% year-over-year in September. Compared to with the month prior, home prices rebounded to post a very slight uptick (0.02%) following … [More]
Buying Like It’s 2021: Nearly Half of Recent Buyers Have a Mortgage Rate Below 5%
Almost half of recent home buyers with a mortgage secured a rate below 5%, a recent Zillow® survey shows.1 Current mortgage rates are hovering near 7%, yet many home buyers who purchased a home in the past year thought outside the box to unlock homeownership. Mortgage rates surged from historic lows of 2.65% in 2021 to decade-long highs of 7.79% by the fall of 2023. This … [More]
2024 Is Shaping Up to Be the Smallest Black Friday Ever, Says GoDaddy Study
Consumers are in a giving mood this year, not just toward their friends and families, but also to small businesses. According to a new GoDaddy survey, 71%* of U.S. shoppers are willing to pay more to support small businesses during Black Friday and this year's holiday season, with an eye-popping 53%* of them willing to spend up to 10 percent more to do so. Despite 65%* of … [More]
Housing Market Stays Surprisingly Active as Election Looms and Mortgage Rates Hit 7%
Mortgage rates rose to 7% for the first time since early July this week, erasing their late-summer decline into the low-6% range. That’s according to a new report from Redfin, the technology-powered real estate brokerage. Rising rates, combined with economic uncertainty and anxiety brought on by the impending presidential election, are causing some prospective homebuyers and … [More]
The Business of Arts & Culture: How Growing Arts & Culture Benefits Our Economy
“Arts and culture is a significant industry in Arizona,” says Chris Camacho, president and CEO of the Greater Phoenix Economic Council, citing numbers that support the statement: The sector represents 3% of the state’s total GDP, employs more than 84,000 individuals and in 2022 added $14.2 billion to the economy. That last figure, he notes, is “nearly as much as agriculture, … [More]
Sandra Watson, Arizona Commerce Authority
Valuing Arts & Culture
The value of arts and culture is vital when evaluating the strength of an economy. Arts and culture is not only a revenue-generating sector on its own, it has been proven over and over to be a significant element of the health of the business community and in economic development. Arizona’s vibrant arts and culture scene is critical to our unbeatable quality of … [More]
How Business Owners Can Optimize Their Estate Tax Plan
And ensure business continuity
Entrepreneurs work tirelessly to build their companies, many with the intent to transfer their business to the next generation. But without proper estate tax planning, business owners at certain levels of wealth run the risk of missing out on significant savings opportunities. Using tools like tax exemptions, trusts, valuation discounts and leveraging business structures for … [More]
Arizona Is One of the Best States to Get a Job in Software Development, Study Finds
According to a new study, Maryland is the best state in the US to get a job in software development. Software development company Vention investigated which US state is best for finding a software development job. They considered four factors, which included the average salary for a software developer, availability of this job type, state income tax, and cost of … [More]
Homebuying Demand Holds Up Even as Election Uncertainty, Stronger-Than-Expected Economy Push Up Rates
Pending U.S. home sales rose 3.5% year over year during the four weeks ending October 20, the biggest increase in three years (with the exception of the prior 4-week period, when they rose 3.7%). That’s according to a new report from Redfin, the technology-powered real estate brokerage. On a local level, pending sales are up in 35 of the 50 most populous U.S. metros, the most … [More]
Arizona Tops List Where Homeownership Has Increased the Most since 2020
A new study from the money experts at Moneywise shows that Arizona has had the highest increase in homeownership since 2020. Arizona has seen the most significant increase in homeownership since 2020 The research analysed government census data from 2020 to 2024 to see which states have had the most significant increase in homeownership. The percentage increase is not the … [More]
Carvana Report Highlights How Customers Search for EVs
Carvana, an industry pioneer for buying and selling used cars online, today released its EV Trends Report for Q3 2024. The report focuses on consumer search behavior, showcasing the increasing interest in electric vehicles (EVs) and evolving preferences among shoppers. Key findings from the report include: The EV share of make-model searches on Carvana.com has … [More]
Zero-Emissions Transportation Co. Releases Inaugural Sustainability Impact Report
Nikola Corporation, a global leader in zero-emissions transportation and energy supply and infrastructure solutions, via the HYLA brand, released their first-ever sustainability impact report today. Nikola's 2023 Sustainability Impact Report covers environmental and social impacts, reporting, and progress towards Nikola's sustainability priorities. According to … [More]
Builders Continue Shift to Condos and Townhomes amidst Affordability Crisis
America's housing stock continues to grow faster than it did before the pandemic-induced housing frenzy, as builders race to fill a shortage of 4.5 million homes. The latest analysis from Zillow® shows roughly 1 million single-family homes were completed in 2023, the second-highest annual total since before the global financial crisis. That's about 11% more homes than were … [More]
Pending Home Sales Jumped 2.5% in September, the Biggest Monthly Increase in over 18 Months
Pending home sales jumped 2.5% month over month in September on a seasonally adjusted basis, the largest increase since January 2023, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. They rose 3.1% year over year, the biggest annual increase since May 2021. Pending sales climbed last month for two reasons: Mortgage rates fell … [More]
