NFIB’s July jobs report found that 33% (seasonally adjusted) of small business owners reported job openings they could not fill in July, down three points from June and the lowest level since December 2020, though still well above the monthly historical average of 25%. In fact, 21% of small business owners cited labor quality as their single most important problem in July, up … [More]
Steel Tariffs and Building Certainty in an Uncertain Market
As a second-generation Arizona steel fabricator and founder of Next Level Steel and Next Level Decking, I’m who people call when they want to talk structural steel construction. Or maybe it’s a developer trying to get a gauge on the level of large-scale commercial and industrial developments in the pipeline here in the Valley and beyond. But lately everyone wants to ask me … [More]
Electric Vehicles: Trend or (Status) Quo in Arizona?
Electric vehicles accounted for 8.1% of U.S. auto sales in 2024 — a record high. Yet despite steady adoption, a cloud of skepticism lingers. Political divides and cooling growth rates have raised doubts: Are EVs the next standard, or just a well-marketed fad? In Arizona, where long commutes, extreme heat and wide-open highways dominate, the answer is becoming clearer. … [More]
AI in Construction: Applications for Project Planning, Safety and Efficiency
The construction industry may not be known for breaking new ground (at least when it comes to technology), but it is no stranger to innovation. New tools and techniques are continually emerging or refined to suit modern timelines and tastes. But, as the recent surge in artificial intelligence adoption pushes the boundaries of what is possible, many best-in-class general … [More]
Aerospace & Defense: The Impact on Arizona’s Growth
This soaring economic sector is well-grounded
Boeing AH-64D Longbow Apache 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 … [More]
Home Price Declines Signal Power Swing Toward Buyers
The median home-sale price fell in 14 of the 50 most populous U.S. metro areas this week, according to a new report from Redfin, the real estate brokerage powered by Rocket. Oakland, CA saw the biggest drop, with a 6.8% year-over-year decline, followed by two Florida metros and two Texas metros: West Palm Beach (-4.9%), Jacksonville (-3.1%), Austin (-2.9%) and Houston … [More]
Guest Editor: Sandra Watson, Arizona Commerce Authority
Defense as the Best Offense Arizona’s Aerospace and Defense industry is taking off, reaching new heights with significant investments — and even more growth on the horizon. Industry leaders across the state are developing cutting-edge technologies, creating skilled jobs, and ensuring our national defense. As one of Arizona’s fastest-growing industries, Aerospace and Defense … [More]
Affordable Homes Outpace Market, Posting 4% Growth in June Sales
Sales of starter homes rose 3.9% year over year in June to the highest level in two years, a bright spot in an otherwise sluggish housing market where sales fell across other price tiers. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. June was the 10th consecutive month in which home sales rose year over year, indicating that … [More]
Sellers See Slight Profit Gains amid Record‑Setting Home Prices
ATTOM, a curator of land, property data, and real estate analytics, released its second quarter 2025 U.S. Home Sales Report, which shows that homeowners, on average, made a 50 percent profit selling single-family homes and condos during the second quarter of the year. That was a marginal increase over the 48.9 percent national median profit margin posted in the first quarter of … [More]
Internet Fraud Complaints Ranked, Arizona Makes List
Arizona has the eighth highest rate of internet fraud complaints in the U.S., according to a new study. The research by personal injury law firm Simmrin Law Group analyzed internet fraud complaint data from the Federal Trade Commission (FTC) across all 50 U.S. states between 2020 and 2024. The average number of fraud reports per 100,000 residents was calculated to determine … [More]
Study Highlights $2T Deposit Shift toward Fintech and High-Yield Options
A new study from Cornerstone Advisors, a leading provider of business and technology consulting services for banks, credit unions, and fintech firms, estimates that more than $2 trillion has moved out of traditional financial institutions and into fintech investment and high-yield savings accounts in the past few years. The research, Stemming the Deposit Outflow: … [More]
Residential Real Estate Holds Steady in Greater Phoenix
Greater Phoenix’s residential home sales in June boasted a 3% increase in closed sales, a 12% jump in listings and just a 3% drop in pending sales, according to the latest year-to-date single-family market data from Phoenix REALTORS. “While June numbers were better than expected, it’s important not to get ahead of ourselves by thinking the market is bouncing back,” said … [More]
Home Inventory Hits 5-Year High as Price Cuts Surge
Slower demand from buyers has more homes for sale now than at any time since 2019, according to the latest market report from Zillow. With homes lingering on the market and less competition for them, a long-anticipated balance of power between buyers and sellers looks to have finally arrived. Price cuts are most common among Sun Belt and Mountain West markets that witnessed … [More]
WESTMARC Partnership Releases In-Depth Report on Region’s Rapid Economic Growth
The Western Maricopa Coalition (WESTMARC), in partnership with CBRE, is proud to release the “Why West Valley” report—an in-depth analysis showcasing the region’s rapid economic growth, expanding workforce, and exceptional advantages for business attraction and expansion. As companies across the country evaluate where to relocate or grow, the West Valley has emerged as a … [More]
Arizona Tops List of States with Biggest Rise in Homeownership since 2014
New research has revealed the states with the biggest increases and decreases in homeownership over the past decade. The study by Eden Emerald Mortgages, using data from the U.S. Census Bureau's Current Population Survey/Housing Vacancy Survey, analyzed homeownership rates across all states from 2014 to 2024 to identify which regions have experienced the most significant … [More]
Far Fewer Canadians Are Searching for Homes in the U.S. Than Last Year
Fewer Canadians are searching for homes in the once-popular destinations like Miami and Phoenix than were at the start of 2025, before the U.S. instituted steep tariffs on Canada and relations between the two countries started suffering. This is according to a new report from Redfin, the technology-powered real estate brokerage.The number of Canadian Redfin.com users searching … [More]
Arizona Economic Development on Hot Streak in 2025
Following an unprecedented streak of record setting years, Arizona economic development efforts reached still greater heights in Fiscal Year 2025 (FY25). In the 12-month fiscal period that ended on June 30, 2025, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to creating a projected 24,285 new … [More]
Small Business Optimism Remains Steady in June
The NFIB Small Business Optimism Index remained steady in June, edging down 0.2 of a point to 98.6, slightly above the 51-year average of 98. A substantial increase in respondents reporting excess inventories contributed the most to the decline in the index. The Uncertainty Index decreased by five points from May to 89. Nineteen percent of small business owners reported taxes … [More]
