Following an unprecedented streak of record setting years, Arizona economic development efforts reached still greater heights in Fiscal Year 2025 (FY25). In the 12-month fiscal period that ended on June 30, 2025, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to creating a projected 24,285 new … [More]
Phoenix Startup Raises $5M, Disrupting Wine Industry with Alcohol Removal Tech
ALTR, a pioneering beverage technology company, announced the successful completion of a $5 million seed funding round to commercialize its groundbreaking alcohol removal technology. The company's proprietary "Flavor-First" process enables the creation of premium low-alcohol drinks that maintain the full sensory experience. Backed by leading investors in the … [More]
Inventory Stagnates as Phoenix Condo Sales Slide More Than 30%
The median U.S. condo sale price fell 2.2% year over year to $354,100 in May—the second largest drop in records dating back to 2012. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The only time condo prices posted a larger year-over-year decline was in April 2023 (-2.9%), and that was largely because roughly one year prior, prices … [More]
Q1 Arizona Economic Insights Findings Released, Likely Higher Risks Seen for Q2
The Greater Phoenix Chamber and BOK Financial have released the First Quarter Arizona Economic Insights Dashboard findings. This enhanced tool provides access to real-time, interactive data updates on Arizona’s ever-changing economic landscape. The public can access detailed insights into key indicators such as unemployment, GDP, job projections, population changes, average … [More]
10 Hottest U.S. New Home Markets Revealed, Metro Phoenix High on List
Since 2005, Zonda's BUILDER has revealed the largest U.S. new-home markets through its Local Leaders list, which includes the top 10 builders within each. BUILDER's 50 hottest home building markets in 2025 went live. This year the list is dominated by Texas, Arizona, Georgia, and Florida in the top eight spots. The Sunbelt continues to have a strong presence on Local Leaders … [More]
The Cautionary Tale of Skype’s Rise and Fall: What Other Businesses Can Do to Avoid the Same Fate
Skype, the platform once synonymous with video calls, just shocked the world by shutting down after 22 years. How is it possible that a once-dominant business — with more than 300 million users at its peak — could fail? “If it can happen to Skype, it can happen to any business that stops innovating or becomes invisible,” observes Jason Kocina, Media Relations Agency’s … [More]
Their Take: Growth Isn’t the Problem—It’s the Answer
Arizona has experienced a bonanza of population and job growth over the last five years, and it's transforming our economy in exciting ways. Since 2020, roughly 100,000 people have moved to our great state every year, according to the Common Sense Institute. The momentum shows no signs of slowing. From major manufacturing to high-tech and corporate relocations, job growth has … [More]
Survey: Americans Are Torn on How Immigration, Tariffs Impact Housing Affordability
Over half of U.S. homeowners and renters (51.2%) strongly or somewhat agree with the following statement: “Less immigration will result in fewer construction workers, and thereby fewer new homes, making homes more expensive.” That’s according to a new survey commissioned by Redfin, the technology-powered real estate brokerage. But much of the nation holds the opposite view; … [More]
Study Reveals Where U.S. Healthcare Costs Increased Most in Five Years, Arizona Ranks Ninth
Healthcare costs have risen dramatically across the U.S. over the past five years, but a new study has revealed that some states saw increases nearly double the national average. Home health care software company Steno Health gathered data from the Bureau of Economic Analysis to calculate and break down each state's personal healthcare expenditures over a five-year period, … [More]
Arizona Ranks 1st in Worker Freedom and Economic Mobility
The American Legislative Exchange Council (ALEC) released States That Work: A Labor Policy Roadmap Across America, a groundbreaking publication ranking all 50 states based on their commitment to worker freedom and pro-growth labor reforms. Arizona claims the top spot, earning recognition as the nation’s leading example of how principled labor policy fuels economic … [More]
Arizona Is Among the Most Affected by Inflation
Phoenix losses reach 86% of interest gains over 40 years, study reveals
Many Americans see their account balances growing and assume they're building wealth, but don't realize how much of that growth is being canceled out by rising prices. A new study by RealWorldInvestor.com, an investing review site, has calculated how inflation will erode Americans' savings over the next four decades, revealing stark regional differences in how much of their … [More]
Arizona among Top 10 U.S. States Most Likely to Face Heatwave Fatalities, Study Finds
The research by Las Vegas-based personal injury lawyers Ladah Injury & Car Accident Lawyers analyzed heat-related illness deaths and record temperatures across major U.S. states. It measured two main metrics: Heat-Related Illness Deaths (scored out of 60 points) and All-time Maximum Temperature (scored out of 40 points). These metrics were totaled to rank the states from … [More]
Luxury Housing Market Loses Spring Momentum, Metro Phoenix Sees Price Cuts
The luxury housing market tapped the brakes in April. Financial volatility led both buyers and sellers at the high end to hit pause, according to Zillow's latest look at the luxury housing market. The typical luxury home — defined as the top 5% most valuable homes in each region — is now worth about $1.8 million nationwide, and more than double that in six major metros: San … [More]
Phoenix Tax Rates to See Slight Increase Starting July 1
Phoenix residents and businesses should be aware of an upcoming change to the City of Phoenix Transaction Privilege and Use Tax (TPT) rates. This tax, often thought of as similar to sales tax though it's actually a tax on the business doing activity within the city, is scheduled to increase. On March 18, 2025, the Phoenix City Council approved Ordinance G-7369. This … [More]
U.S. Home Sellers Are Sitting on $700B Worth of Listings, an All-Time High
There’s a total of $698 billion worth of homes for sale in the U.S., up 20.3% from a year ago and the highest dollar amount ever, according to a new report from Redfin, the technology-powered real estate brokerage. The report is based on an analysis of listings on Redfin.com going back through 2012. For the total dollar value of all inventory on the market, Redfin summed up … [More]
New Apartments Are Sitting Vacant for Months, Giving Renters Power to Negotiate Concessions
Less than half (49%) of newly built apartments completed in the fourth quarter of 2024 were rented within three months, up slightly from 47% the previous quarter. That’s according to a new report from Redfin, the technology-powered real estate brokerage. This was the fifth consecutive quarter that the rental absorption rate was below 50%, a speed that continues to lag behind … [More]
Point in Time Homeless Count Sees Increase in People Living Unsheltered
Total is higher than 2024, but on par with recent years
Results from the 2025 Point in Time Homeless count (PIT count) are in, and the region has seen a 3 percent increase in the number of people experiencing homelessness, in particular among those living unsheltered – sleeping in parks, cars, and other places not meant for habitation. The count was conducted on January 28, 2025, as part of an annual nationwide effort to count … [More]
Phoenix Office Market Evolves as Demand Shifts Toward Upgraded Class-A Space
Phoenix’s office market is continuing to evolve as demand for upgraded Class-A space drives a surge in tenant improvement projects, according to LGE Design Build’s newly released Q2 2025 Construction Delivery Outlook. “Phoenix’s growth trajectory is still strong, but we’re now seeing more selective investment as developers and owners react to new market signals,” said Blake … [More]
