A September dip in mortgage rates paired with a stock market bump gave a boost to what is traditionally the start of the slow season in real estate. The latest market report from Zillow shows activity from sellers and buyers is unseasonably resilient after a lackluster August. "September's market showed surprising stamina," said Kara Ng, senior economist at Zillow. … [More]
$13B in Untapped Gains: How Housing Affordability Is Key to Arizona’s Economic Future
Arizonans have made housing affordability one of their top priorities, and the economic case for action is clear. According to new analysis from Unlocking Potential: Turn Arizona’s Priorities into Economic Gains, a report released by Center for the Future of Arizona (CFA), tackling the state’s housing affordability crisis could unlock billions, support jobs, reduce strain on … [More]
Valley Single-Family Home Sales Gain Footing in September
Closed sales climbed nearly 11% in September, a promising sign after a flat and dismal summer. The 10.8% rise over September 2024 topped a month of steady numbers and some bright spots for the residential real estate market, according to data from Phoenix REALTORS. “Closed sales were comfortably up last month compared to September last year,” said Christy Walker, … [More]
NFIB: Small Business Optimism Declines in September
The NFIB Small Business Optimism Index declined 2.0 points in September to 98.8. This was the first decline in three months, though it remains above the survey’s 52-year average of 98. The Uncertainty Index rose 7 points from August to 100, the fourth-highest reading in over 51 years. “Optimism among small business owners decreased in September,” said NFIB Chief Economist … [More]
CBRE Answers: How Is Semiconductor Growth Reshaping Metro Phoenix?
In a new report from CBRE, the firm outlines how Arizona’s semiconductor ecosystem has matured from historic roots to a modern growth engine, underscoring the state’s long-standing strengths and its accelerating momentum. Drawing on industry data and recent project activity, CBRE details the factors that have elevated Arizona—its stability, talent pipeline, and coordinated … [More]
An Economy in the Chips
Arizona is the U.S. Semiconductor epicenter
Thanks to a purposeful focus and our vaunted collaborative environment among economic development organizations that include Arizona Commerce Authority, Greater Phoenix Economic Council and the City of Phoenix Community and Economic Development Department, Arizona stands in the national spotlight as the epicenter of America’s semiconductor resurgence. ACA reports that … [More]
Not Just Dollars: Why U.S. Firms Should Consider Transacting in Foreign Currencies
For decades, most U.S. businesses have defaulted to transacting international business in U.S. dollars. The dollar’s status as the world’s reserve currency makes this possible, with approximately 55% of bank customers’ cross-border flows denominated in dollars, according to a recent report from the International Monetary Fund. However, “possible” doesn’t always mean … [More]
Import Tariffs: The Hidden Costs of Staying Competitive
In Arizona, where population growth and record-breaking demand are stretching the power grid, the push for new solar and energy infrastructure is as strong as it has ever been. Every project we deliver connects to a system that needs more capacity and more resilience. Yet, the pace at which we can build is increasingly shaped by a factor that feels far removed from substations … [More]
Valley Housing Sends Mixed Message as Buyer Activity Ticks Up and Prices Ease
Active listings of homes for sale fell 1.4% month over month in August—the largest seasonally-adjusted decline since June 2023, according to a new report from Redfin, the real estate brokerage powered by Rocket. They rose 9.7% from a year earlier—the smallest year-over-year increase since March 2024. New listings also cooled, falling 1.1% month over month to the … [More]
Valley Closed Home Sales Double National Rate
Greater Phoenix August home sales closed up 4.6% from July and up 2.8% for the first eight months of 2025 in year-over-year comparisons, according to the latest data from Phoenix REALTORS. Closed sales in the Valley were more than double the national rate. Nationally, sales were up 2% from August 2024 and 0.8% for year-to-date numbers comparing 2025 over … [More]
Report: Home Inventory Peaks and Competition Eases Mid-October
The best time to buy a home in 2025 is fast approaching. According to the Realtor.com 2025 Best Time to Buy Report, the week of October 12–18 will be the year's sweet spot for home shoppers, with a rare combination of higher inventory (32.6% more active listings from the start of the year), lower prices (a potential savings of $15,000), and less competition (30.6% lower) that … [More]
Canadian Buyers Pull Back from U.S. Market, Trend Aligns with Tariff Timeline
According to the latest report by Redfin, he number of Canadians searching for U.S. homes started dropping significantly in February, when the White House implemented 25% tariffs on imports from Canada. The steepest decline was a 34.2% year-over-year drop in April, the month the Trump administration announced its global tariff policy. The declines have shrunk since then … [More]
Labor Concerns Loom amid Slight Optimism Uptick
The NFIB Small Business Optimism Index rose 0.5 points in August to 100.8, nearly 3 points above the 52-year average of 98. Of the 10 Optimism Index components, four increased, four decreased, and two were unchanged. The increase in those expecting real sales to be higher contributed the most to the rise in the Optimism Index. The Uncertainty Index fell by 4 points to 93 but … [More]
NFIB Report: Labor Quality Remains Top Issue as Openings Moderate
NFIB’s August jobs report found that 32% (seasonally adjusted) of small business owners reported job openings they could not fill in August, down 1 point from July. The last time unfilled job openings fell below 32% was in July 2020. Twenty-eight percent have openings for skilled workers, down 1 point, and 13% have openings for unskilled labor (up 1 point). “While the economy … [More]
Reframing Arizona’s Housing Market: Why Today’s Market Offers More Power to Buyers
For years, home buyers in Arizona faced mounting obstacles, including fierce competition, rising prices and limited inventory. Today’s market, however, points to a change in those trends. Realtor.com recently reported that Phoenix led the nation in de-listings in May 2025. While sellers still hold considerable sway, there are growing signs that buyers are gaining more … [More]
Aerospace & Defense: The Impact on Arizona’s Growth
Aerospace & defense is interwoven in our state’s economy with its extensive range of manufacturing and engineering, from aircraft to optics, weapons systems to drone detection, and parts to software. Four of our major A & D businesses help us gain a snapshot view of the current strength of the industry and what bodes for the future. … [More]
Inside Phoenix’s Members-Only Dining Movement
Once considered the “Wild West,” Phoenix has swiftly become a cultural and culinary hotspot, rivaling the likes of Los Angeles, New York City, Austin and San Francisco. Within the past few years, Phoenix has seen a notable increase in members-only dining clubs that cater to affluent locals and tourists alike who seek exclusivity and elevated experiences. This trend, already … [More]
Investors Buy Nearly One-Third of Homes Sold Nationally in 2025
Cotality, a global provider of property information, analytics, and data-enabled solutions, released its latest update on investor activity in the U.S. housing market. Investor activity dipped slightly in the second quarter of 2025 but remains elevated compared to years past. In January, investors accounted for 32% of single-family home purchases. By June the … [More]
