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]

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]

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]

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]

The NFIB Research Center released the latest COVID-19 survey assessing the impact of the COVID-19 pandemic on small businesses. This is the 22nd survey in the series and includes an update on prices, supply chain disruptions, sales levels, staffing shortages, and more. The survey was conducted from March 10-11, 2022, with 605 responses collected. “The small … [More]

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Homeowner Equity Report for the fourth quarter of 2021. The report shows U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen their equity increase by 29.3% year over year, representing a collective equity gain of over $3.2 … [More]

Greater Phoenix added 91,300 jobs over the past year from January 2022 compared to January 2021 for a good start to the year as reported in the March Employment Report from the Arizona Office of Economic Opportunity. The number of people in the Greater Phoenix workforce filled over 2.3 million jobs in January 2022. Hiring in the business professional, technical and … [More]

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in February on a seasonally adjusted basis after rising 0.6 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.9 percent before seasonal adjustment. Increases in the indexes for gasoline, shelter, and food were the … [More]

This week marks the two-year anniversary of the coronavirus pandemic, which the World Health Organization officially declared a pandemic on March 11, 2020. The housing market has changed drastically since then—there are now half as many homes to choose from, and prices have surged 34%, according to a new report from Redfin, the technology-powered real estate … [More]

In February, the NFIB Optimism Index decreased by 1.4 points to 95.7, the second consecutive month below the 48-year average of 98. Twenty-six percent of owners reported that inflation was their single most important problem in operating their business, a four-point increase since December and the highest reading since the third quarter of 1981. “Inflation … [More]

Small businesses continued to struggle to increase their workforce in February, with 22% of owners reporting that labor quality was their top business problem, according to NFIB’s monthly jobs report. Eleven percent of owners cited labor costs as their top business problem, unchanged from January. Reports of labor costs as the top business problem are at 48-year record high … [More]