New data shows national rents grew five times faster in 2021 than in 2020, on average, according to the Realtor.com® Monthly Rental Report released today. In December, rents notched the sixth straight month of double-digit yearly increases nationwide and surged in the majority of large metros, led by Miami, Tampa, Fla. and Orlando with gains of more than 34% … [More]

The value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. increased 18% from 2020 to 2021, according to Dodge Construction Network. Nationally, commercial and multifamily construction starts increased 16% in 2021. In the leading half (the top 10 metro areas), commercial and multifamily starts rose 18% in 2021, with two metro areas, … [More]

The hotel industry will continue moving toward recovery in 2022, but the path will be uneven and potentially volatile, and full recovery is still several years away, according to the American Hotel & Lodging Association (AHLA)’s 2022 State of the Hotel Industry Report. The report, which reveals shifts in consumer and business sentiment, was created in collaboration with … [More]

Legalized recreational marijuana sales, which began on January 22, 2021 in Ariz., had an impressive first year. The Arizona Dispensaries Association (ADA) celebrates this monumental moment as the state’s Department of Revenue announced the total gross cannabis sales has reached more than $1.2 billion, surpassing legislative projections even before December’s final numbers are … [More]

Governor Doug Ducey announced Arizona’s booming economy has added more than 400,000 new jobs since 2015 and the state’s unemployment rate has plummeted to 4.1 percent — the lowest since December 2007. Speaking at a groundbreaking event for Sunlit Chemical in Phoenix, Governor Ducey announced the state’s latest economic achievements, referring to the latest employment report by … [More]

In the week ending January 15, the advance figure for seasonally adjusted initial claims was 286,000, an increase of 55,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 230,000 to 231,000. The 4-week moving average was 231,000, an increase of 20,000 from the previous week's revised average. The previous week's average was … [More]

The home shopping season appears to already be in full swing, as anxious buyers outnumbered dwindling new listings and drove inventory to record low levels in December. Limited supply is already pushing price growth up, as Zillow®'s latest market report1 shows monthly home value appreciation accelerated for the first time since July.   In addition to not wanting to wade into … [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. November 2021 data shows a national rent increase of 11.5% year over year, up 3.8% from November 2020. Annual rent … [More]

Fewer homes than ever were for sale in December, driving seasonally-adjusted home sales down 3.6%, according to a new report from Redfin, the technology-powered real estate brokerage. This marks the largest month-over-month sales decline since May 2020. Home prices surged 15% from a year earlier, the 17th consecutive month of double-digit increases. “Home sales are slumping, … [More]

In the week ending January 8, the advance figure for seasonally adjusted initial claims was 230,000, an increase of 23,000 from the previous week's unrevised level of 207,000. The 4-week moving average was 210,750, an increase of 6,250 from the previous week's unrevised average of 204,500. The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week … [More]

An outside panel of economists and housing experts is evenly split on whether sales will rise or fall in 2022 as concerns over worsening affordability collide with expectations for rising inventory. When asked whether sales will rise or fall in 2022 compared to 2021, 41% of participants in the latest Zillow® Home Price Expectations Survey1 (ZHPES) said sales will … [More]