U.S. Home Price Gains Continue through End of Third Quarter, Home Price Index Reports

Red Bell Real Estate, LLC

Home prices across the United States continued to climb in September, rising 7.8 percent in the twelve months since October 2019, according to Radian Home Price Index (HPI) data released by Red Bell Real Estate, LLC, a Radian Group Inc. company (NYSE: RDN). The Radian HPI is the most comprehensive and timely measure of U.S. housing market prices and conditions. Since the … [More]

Global Artificial Intelligence Spending to Surge by 120% and Hit $110B by 2024, Retail and Banking Top List

BuyShares

Recent years have witnessed a swell in the adoption of artificial intelligence solutions, revolutionizing industries, and helping businesses boost growth. The rising volume and complexity of business data are set to continue driving AI adoption in the following years, causing a surge in global AI spending. According to data presented by BuyShares.co.nz, global artificial … [More]

Governor Paints Rosy Picture as Arizona Leads Nation in Homeownership Growth

State of Arizona Office of the Governor

Arizona is adding homeowners faster than any state in the nation, a sign of continued growing economic momentum in the state. The state’s quarter-over-quarter homeowner rate change increased by 7.7 percentage points in Q2 2020, according to data from the U.S. Census Bureau, the best in the nation. “The American dream of owning a home is alive and well in Arizona,” said … [More]

NEW Poll: Nearly Half of Black-Owned Small Businesses Closed Permanently Or Will Soon Shutter Due to Insufficient Federal COVID Relief

inbusinessPHX.com

As critical federal coronavirus relief legislation remains stalled in negotiations between lawmakers and the White House, a new poll from Color Of Change and Main Street Alliance out today reveals Black-owned small businesses are being decimated by government inaction and racial inequities. Barring swift and decisive action by Congress to provide direct grants to Black small … [More]

U.S. Loan Serious Delinquencies Spiking Despite Strong Housing Demand

CoreLogic

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for July 2020. On a national level, 6.6% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure). This represents a 2.8-percentage point increase in the overall delinquency … [More]

Home Values Are Growing at a Pace Not Seen Since the Recovery from the Great Recession

Zillow

The housing market has seen record-breaking growth since June, further cementing its strength amid an uncertain economy, according to the latest Zillow® Real Estate Market Report1. The typical home value rose to $259,906 in September. That incredible growth includes: A month-over-month growth rate of 0.8%, the biggest jump since November 2005. Quarterly growth of … [More]

Jobless Claims Rise amid Growing Urgency for Stimulus Package

U.S. Department of Labor

In the week ending October 10, the advance figure for seasonally adjusted initial claims was 898,000, an increase of 53,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 840,000 to 845,000. The 4-week moving average was 866,250, an increase of 8,000 from the previous week's revised average. The previous week's average was revised … [More]

Ten Largest Unicorns in the World Hit more than $560B in Value, China and U.S. Fill Top 5 Slots

inbusinessPHX.com

When the term unicorn emerged back in 2013, there were only 40 private companies with a valuation of one billion dollars in the world. Since then, the number of these financial giants jumped 12.5 times, reaching around 500 in September. According to data presented by AksjeBloggen.com, the ten largest unicorn companies in the world hit a valuation of $563.3 billion as of … [More]

Survey: 9 in 10 Voters Support Congress Passing Another COVID Relief Bill to Help Distressed Businesses

American Hotel & Lodging Association

Americans are concerned about the impact of the coronavirus pandemic on all aspects of the economy, and 90 percent support Congress passing another economic stimulus bill to help distressed small businesses and employees, according to a new survey of registered voters conducted by Morning Consult and commissioned by the American Hotel & Lodging Association (AHLA). A … [More]

Vacation Areas Are Trending amid Pandemic, Show Low Makes List

Zillow

Page views of for-sale listings are up nearly 50% from a year ago in metro areas typically considered vacation destinations, defined as metros with at least 65,000 people and five times more vacation homes than the U.S. as a whole. That's compared to a 37% increase in page views nationally.  Vacation metros seeing an uptick in demand include places like the Jersey Shore area, … [More]

Small Business Optimism Improves in September, Uncertainty Index Remains High

NFIB

The NFIB Optimism Index rose 3.8 points to 104.0 in September, a historically high reading. Nine of the 10 Index components improved and one declined. The NFIB Uncertainty Index increased 2 points to 92, up from 75 in April. “As parts of the country continue to open, small businesses are seeing some improvements in foot traffic and sales,” said NFIB Chief Economist Bill … [More]

Consumer Price Index Up Just 0.2% in September

U.S. Bureau of Labor Statistics

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in September on a seasonally adjusted basis after rising 0.4 percent in August, 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 index for used cars and trucks continued to rise sharply … [More]

Is Increased Market Concentration Hurting Workers? No, Says New Report

Information Technology and Innovation Foundation

Pundits, scholars, and activists say the cause of the reduced share of U.S. national income going to workers over the past two decades is increased market concentration. But a new report released today by the Information Technology and Innovation Foundation (ITIF), the leading think tank for science and technology policy, shows that this analysis is largely flawed and … [More]

New Study: Trade Supported Over Three Quarters of a Million Arizona Jobs

Business Roundtable

A new study from Business Roundtable finds that international trade supported 783,500 jobs in Arizona in 2018, having represented 1 out of every 5 jobs in the state before the pandemic. Since 1992, before the implementation of the North American Free Trade Agreement (NAFTA), the share of jobs tied to trade in Arizona has increased by 85 percent. Additionally, the Grand … [More]

Latinx Americans are Driving U.S. Homeownership Gains

Zillow

Remarkable growth this half-decade has boosted the share of Latinxi households in the U.S. that own their home to its highest since the housing bustii. While recent signs are encouraging, a new Zillow® analysis reveals remaining roadblocks on the path to equitable housing. Latinx Americans are a massive and diverse group, with more than 200 unique ancestriesiii among the 60 … [More]

Merchant Transaction Volume Steady Despite Anticipated Seasonal Slowdown, Arizona Increased

Shift4 Payments

Shift4 Payments, the leader in integrated payment processing solutions, continues to see improvement in merchant transaction volume across America as businesses adapt to overcome the impacts associated with the coronavirus. In the latest update since the COVID-19 pandemic began to spread throughout the US in early 2020, Shift4’s analysis of transaction volume suggest that … [More]

MIT Sloan Study Finds Gig Economy Serves as a Safety Net for Unemployed

inbusinessPHX.com

When workers are laid-off, they often seek the safety net of unemployment benefits or accumulate personal debt. This is a particularly critical issue now, during the COVID-19 pandemic when unemployment rates reached nearly 15% last April. A recent study by MIT Sloan School of Management Visiting Prof. Jordan Nickerson found that the gig economy can have a “profound impact” on … [More]

Arizona Nonprofits Projecting Difficult Futures Without Additional Federal Support during Pandemic

Alliance of Arizona Nonprofits

The impact of the COVID-19 pandemic continues to create major challenges for Arizona nonprofits both financially and operationally according to the latest Alliance of Arizona Nonprofits Pulse Poll. The poll, conducted from Sept. 23 to Oct. 6, generated more than 200 responses from nonprofit organizations serving communities across Arizona. Among the outcomes: Without … [More]

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