U.S. housing gained nearly $2.5 trillion in value in 2020 -- the most in a single year since 2005, according to a new Zillow® analysis. The full stock of U.S. housing is now worth $36.2 trillion. 2020 was a remarkable year for the housing market. Strong demand drove intense competition among buyers, causing homes to fly off the market at the fastest pace Zillow … [More]
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51% of U.S. Small Businesses are Hiring in 2021 Despite Ongoing Effects of Pandemic
The Manifest
Small businesses have faced adverse effects of the COVID-19 pandemic, but may be poised for a year of growth. Half of small businesses in the U.S. (51%) are likely to hire new employees in 2021, according to a new survey from The Manifest, the leading resource for B2B buying decisions. Whether a small business is hiring, however, depends on their revenue projections for … [More]
U.S. Jobless Claims Decrease Slightly as Stimulus Debate Continues
U.S. Department of Labor
In the week ending January 23, the advance figure for seasonally adjusted initial claims was 847,000, a decrease of 67,000 from the previous week's revised level. The previous week's level was revised up by 14,000 from 900,000 to 914,000. The 4-week moving average was 868,000, an increase of 16,250 from the previous week's revised average. The previous week's average was … [More]
Pandemic Leads to Sharp Pullback in Commercial and Multifamily Construction Starts in 2020, Only Phoenix Up (by 32%)
Dodge Data & Analytics
The value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. lost 23% in 2020, falling to $111.1 billion according to Dodge Data & Analytics. Nationally, commercial and multifamily starts tumbled 20% over the year to $193.4 billion. Commercial and multifamily construction starts in the top 10 metro areas dropped 23% during the … [More]
Local Homebuilder Reports Large Increase in Home Starts and Sales in 2020
Fulton Homes
Fulton Homes, Arizona's largest family-owned and -operated homebuilder, saw a 62 percent increase in housing starts in 2020 compared with 2019. In 2020, Fulton Homes started construction on 1,121 homes, compared with 692 home starts in 2019. Additionally, the Tempe-based homebuilder sold a total of 1,272 homes in 2020, a 44 percent increase compared with 883 homes sold in … [More]
Home Values Break New Growth Records as Demand Surge Presses On
Zillow
Home value growth continued its meteoric rise in December as towering demand for homes carried on into winter, according to Zillow's® latest Real Estate Market Report1. Houses are going under contact quickly and sales far outpace the year prior as all-time low mortgage rates help keep monthly payments manageable, despite rising prices. Typical home values in the U.S. climbed … [More]
2020 U.S. Home Prices: A Bright Spot in a Dark Year, Says Report
Red Bell Real Estate, LLC
2020 will go down in the history books for many reasons, but one bright spot in a year of darkness is the performance of the U.S. residential real estate markets. December 2020, like much of the year, recorded very strong home price appreciation. According to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC, a Radian Group Inc. company (NYSE: RDN), … [More]
U.S. Weekly Jobless Claims Show Modest Decline
U.S. Department of Labor
In the week ending January 16, the advance figure for seasonally adjusted initial claims was 900,000, a decrease of 26,000 from the previous week's revised level. The previous week's level was revised down by 39,000 from 965,000 to 926,000. The 4-week moving average was 848,000, an increase of 23,500 from the previous week's revised average. The previous week's average was … [More]
Report: Hotel and Travel Outlook for 2021, Business Travel Not Expected to Return Until 2024
American Hotel & Lodging Association
The American Hotel & Lodging Association (AHLA) today released “AHLA’s State of the Hotel Industry 2021” outlining the forecasted state of the hotel industry in 2021 and into the immediate future. The report examines the high-level economics of the hotel industry’s recovery, the specific impact on and eventual return of business travel, and consumer travel … [More]
SkySong Expected to Generate $58.2 Billion in Economic Impact Over Next 30 Years
inbusinessPHX.com
SkySong, The ASU Scottsdale Innovation Center “is a job creator with outsized ripple effects” on economic development in the region, with an estimated impact of $58.2 billion over the next 30 years and with even more value as a brand representing innovation and entrepreneurship. The estimate is part of a comprehensive new Market Analysis and Economic & Fiscal Impact … [More]
Survey Predicts Austin will be the Nation’s Hottest Housing Market in 2021, Leading a Sunbelt Surge
Zillow
Austin will be America's hottest housing market in 2021, leading a list of mostly Sun Belt cities expected to continue heating up faster than the nation's large coastal markets, according to a new Zillow® survey of experts. The booming Texas destination heads a lineup of sunny and relatively affordable metro areas -- Phoenix, Nashville, Tampa and Denver -- that are most … [More]
Leveling Off: Mortgage Delinquencies Continue to Rise but Pace Moderating in October
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for October 2020. On a national level, 6.1% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure). This represents a 2.4-percentage point increase in the overall … [More]
Survey: America’s CEOs Start 2021 Concerned about Taxes, Optimistic about Trade, & Eager to Return to the Office
The Conference Board
As 2021 begins, a new survey from The Conference Board reveals the biggest issues that will keep business leaders up at night in the new year. CEOs in the United States are more worried about higher corporate taxes and increased regulation, but less worried about global political instability and disruptions to global trade. And compared to their global peers, U.S. CEOs are more … [More]
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]
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]
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]
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]
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]
