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Economy & Trends  |    |  

Arizona Mortgage Applications Reveal Trends in Active New Home Market

Fulton Homes

Fulton Homes, Arizona's largest family-owned and -operated homebuilder, has consistently strived to understand the desires of homebuyers and trends in order to best accommodate them while also considering the direction of the larger industry. The homebuilder has always championed the idea that mortgage applications are a useful data point to learn from as the company develops … [More]

Economy & Trends  |    |  

Survey Reveals 68% of Surveyed Workers Do Not Feel Completely Safe in Their Buildings

Honeywell

Honeywell released the results of a comprehensive study on workers' perceptions and feelings on the health and safety of their workplace. Conducted by Wakefield Research, the study surveyed 2,000 workers that typically work in buildings with 500 or more employees across the United States, United Kingdom, Germany and the Middle East. The findings show that a staggering … [More]

Economy & Trends  |    |  

Despite New Stimulus, More Than 3 Million Renters Facing COVID-19 Unemployment Bear Extreme Housing Cost Burden

Zillow

For millions of renters who remain unemployed during the COVID-19 pandemic, the recently finalized fiscal stimulus package is desperately needed relief. The additional payments will bring their typical rent burdens from more than 80% of their income to less than half, a new Zillow® analysis shows. While the extra assistance helps on a monthly basis, millions behind on their … [More]

Economy & Trends  |    |  

Report: Small Business Optimism Drops Below Index Average in December

NFIB

The NFIB Small Business Optimism Index declined 5.5 points in December to 95.9, falling below the average Index value since 1973 of 98. Nine of the 10 Index components declined and only one improved. Owners expecting better business conditions over the next six months declined 24 points to a net negative 16%. “This month’s drop in small business optimism is historically very … [More]

Economy & Trends  |    |  

U.S. Consumer Prices Increase in December

U.S. Bureau of Labor Statistics

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in December on a seasonally adjusted basis after rising 0.2 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.4 percent before seasonal adjustment. The seasonally adjusted increase in the all items index was … [More]

Economy & Trends  |    |  

Pandemic Year Brought Incredible Surge in ‘Million-Dollar Cities’

Zillow

Although the typical value of a home in the United States is about $263,000, the number of "million-dollar cities" spiked sharply last year,  according to a new Zillow analysis.  There are 45 more U.S. cities1 with a typical home value of at least $1 million than there were a year ago -- the largest increase in at least a decade.  There are now 312 million-dollar cities, up … [More]

Economy & Trends  |    |  

2020: What Did We Learn & What Is Here to Stay?

by Karen Stafford, MHRM, SPHR, SHRM-SCP

Remote Work Is Here to Stay! While a small number of workplaces offered working from home at least one day a week before the pandemic hit in March (36%, according to a Price Water House survey), when COVID hit that number spiked to 77%. During this time, we learned that remote work can and really does work! Yes, job roles are important, as many “essential worker” … [More]

Economy & Trends  |    |  

Jobs Report: U.S. Lost 140,000 Jobs in December, the First Decline since April

U.S. Bureau of Labor Statistics

Total nonfarm payroll employment declined by 140,000 in December, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. The decline in payroll employment reflects the recent increase in coronavirus (COVID-19) cases and efforts to contain the pandemic. In December, job losses in leisure and hospitality and in private … [More]

Economy & Trends  |    |  

Despite Growing Healthcare and Economic Concerns, Education Remains Top Priority among Arizona Voters

Expect More Arizona

Education remains the number one issue among Arizona voters for the sixth consecutive year, according to a recent poll of 600 likely voters. The survey was conducted Dec. 8-12, 2020 by HighGround, Inc. on behalf of Expect More Arizona. Education issues (28%) topped Healthcare (18%) and Jobs/Economy (16%) as the top issue facing our state, even among those respondents without … [More]

Economy & Trends  |    |  

Small Business Job Growth Continues in December

NFIB

Small business job growth continued in December, but the gains remain uneven as certain sectors of the economy are slowing due to state-mandated business closures and consumer resistance to spend, according to NFIB’s monthly jobs report. “Small businesses continued to prove that they are the engine of the economy as we closed a chapter on a challenging year,” said NFIB Chief … [More]

Economy & Trends  |    |  

New Year, New Trends. 5 Small Business Trends to Keep an Eye On to Succeed in 2021

by Edgar R. Olivo

Small businesses all across the country have reset their clocks to kick off a new year. To say 2020 was an interesting year is an understatement. COVID-19 upended many dreams, forcing countless small-business owners to close or pivot almost overnight. Now that we are almost a year into the pandemic, there are plenty of lessons to capture from our combined experiences and shed a … [More]

Economy & Trends  |    |  

Home Value Disparities Between Races Are Still Pronounced, but Shrinking

Zillow

Typical values for Black- and Latinx-owned homes still lag behind overall U.S. home values, but the gap is narrowing. A new Zillow® analysis shows homes owned by Black and Latinx households are worth 16.2% and 10.2% less, respectively, than the typical U.S. home -- gaps that have closed by about 4 percentage points from their widest points following the Great … [More]

Economy & Trends  |    |  

Annual U.S. Home Price Appreciation Jumped to 8.2% in November, CoreLogic Reports

CoreLogic

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for November 2020. Nationally, home prices increased 8.2% in November 2020, compared with November 2019, marking the largest annual appreciation since March 2014. On a month-over-month basis, home prices … [More]

Economy & Trends  |    |  

Arizona Passes Prop. 207 to Become the 13th State to Legalize Marijuana

by Raul Molina

At the end of last year, Arizona voters overwhelmingly passed Proposition 207, legalizing recreational marijuana in our state. So, what happens next? According to the Arizona Secretary of State’s office, the law will allow limited marijuana possession, use and cultivation by adults 21 or older; amend criminal penalties for marijuana possession; ban smoking marijuana in … [More]

Economy & Trends  |    |  

U.S. Weekly Jobless Claims Fall to Just Above 800,000

U.S. Department of Labor

In the week ending December 19, the advance figure for seasonally adjusted initial claims was 803,000, a decrease of 89,000 from the previous week's revised level. The previous week's level was revised up by 7,000 from 885,000 to 892,000. The 4-week moving average was 818,250, an increase of 4,000 from the previous week's revised average. The previous week's average was revised … [More]

Economy & Trends  |    |  

Early Research Indicates that 58% of Frontline Healthcare Workers Are Most Concerned about COVID-19 Vaccine Adoption

Waggl

Waggl, the most powerful Employee Voice platform for hospital systems, today released preliminary results from “The Voice of Healthcare Workers,” a dynamic resource that enables frontline healthcare workers to share real-time suggestions and insights with their peers about the rollout of the COVID-19 vaccination. “With the COVID-19 vaccine being distributed to the front-line … [More]

Economy & Trends  |    |  

Real Estate Website Predicts Stronger Housing Market Across the Board in 2021

Zillow

The for-sale housing market showed incredible strength in 2020, and Zillow® predicts 2021 will be even stronger. Demand continues to grow, and is expected to surge in the cities as economies reopen. Zillow forecasts annual home sales growth will be the highest in nearly 40 years as life and financial certainty brings more sellers into the market to meet the heavy demand and … [More]

Economy & Trends  |    |  

Workforce Report Shows ‘Positive Development’ in Key Arizona Industries

Greater Phoenix Chamber

The Greater Phoenix Chamber Foundation hosted a Workforce Webinar on Dec. 10th and discussed the current and future state of Arizona’s Workforce. Trevor Stokes, CEO, Partnership for Workforce Innovation provided an analysis of the Greater Phoenix region’s labor market, unemployment, dynamic industries and how COVID-19 impacted Valley businesses. “Despite the challenges of … [More]

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