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. The report highlights the slowing growth in key rental metros which all experienced population spikes during the … [More]
Two Weeks Left to Renew 2025 Transaction Privilege Tax License
The Arizona Department of Revenue (ADOR) reminds businesses they are required to renew their transaction privilege tax (TPT) license before January 1, 2025 to continue conducting business in Arizona. Penalties will be assessed for all renewals after January 31. Unrenewed licenses will not be canceled and will be billed for renewal fees and penalties. Taxpayers should … [More]
Existing Home Sales Rise to Highest Level in over a Year and a Half
Existing home sales rose 0.7% month over month in November to a seasonally adjusted annual rate of 4,269,85—the highest level since March 2023. They jumped 4.5% year over year—the largest annual increase since July 2021, according to a new report from Redfin, the technology-powered real estate brokerage. A seasonally adjusted annual rate is not a measurement of actual total … [More]
Chlorum Solutions USA Announces Development of First U.S. Plant in Arizona
New company to provide safer, local production to U.S. buyers
Chlorum Solutions USA LLC, formally announced the development of its first small-scale U.S. chlor-alkali plant in Casa Grande, Arizona. The plant will enhance local supply chain resilience in the U.S. chemical industry with its innovative decentralized model tailored for this purpose. The Arizona facility will be a model of environmentally friendly, safe practices. With an … [More]
Arizona Startup Leaders Form Arizona Venture Alliance
Arizona Venture Alliance to position the state as a premier location for startups and investors
Roughly two dozen investors, founders, and economic development and nonprofit leaders came together to launch a new coalition dedicated to advancing Arizona’s startup ecosystem. The Arizona Venture Alliance (AVA) will work to promote Arizona’s startup and investor ecosystem, exponentially increase funding for Arizona startups, and grow deal flow for investors both inside and … [More]
Positive Office Space Absorption After Five Straight Negative Quarters Signals Further Growth
Net absorption of office space turned positive in the second and third quarters of 2024, following five consecutive quarters of shrinking demand. Although it is still possible that a recession could delay a recovery, recent trends suggest the office sector is stabilizing and that demand for office space will grow modestly in 2025, according to the NAIOP Research Foundation’s … [More]
Desert Diamond Arena Reimagines Itself as Arizona’s ‘Music Mecca’ with $42M Transformation
Desert Diamond Arena has released details of its dramatic $42 million transformation from a traditional sports arena into a premier “music mecca” and entertainment destination, spotlighting that Glendale has become one of the largest entertainment and sports hubs in the western United States. Spearheaded by ASM Global — the world’s top venue operator and developer — in … [More]
Phoenix Metro Area Ranked No. 8 in Forecast of Top Housing Markets for 2025
The Valley takes spot in annual ranking of areas poised to see the strongest combined increase in home sales and listing prices
The Phoenix metro area, one of the market areas served by members of Phoenix REALTORS®, has been ranked No. 8 on the Realtor.com® 2025 top housing markets forecast. The 2025 forecast highlighted areas that are primed and ready for growth in the year ahead. This year’s list highlights markets characterized by moderately affordable homes, abundant inventory – mainly boosted by … [More]
Foil Bag Manufacturer Expands with New Facility in Chandler
3D Barrier Bags Inc., a leader in the production of customized, high-barrier s, is excited to announce the opening of its new state-of-the-art manufacturing facility in Chandler, Arizona. Spanning 22,000-square-feet, the bespoke facility will serve as a key operational hub for the company as it strengthens its service to customers in the Western United States. This new … [More]
Tempe and Phoenix to End Lawsuits Regarding Property Rights Near Airport
Changes to a 30-year-old intergovernmental agreement will effectively end lawsuits between the cities of Tempe and Phoenix regarding property rights near Phoenix Sky Harbor International Airport. The lawsuits sought to determine whether residential buildings were … [More]
Albertsons Files Lawsuit Against Kroger for Breach of Merger Agreement
Albertsons Companies, Inc. filed a lawsuit against The Kroger Co. in the Delaware Court of Chancery, bringing claims for willful breach of contract and breach of the covenant of good faith and fair dealing arising from Kroger’s failure to exercise “best efforts” and to take “any and all actions” to secure regulatory approval of the companies’ agreed merger transaction, as was … [More]
Small Business Optimism Jumps Above 50-year Average
The NFIB Small Business Optimism Index rose by eight points in November to 101.7, after 34 months of remaining below the 50-year average of 98. This is the highest reading since June 2021. Of the 10 Optimism Index components, nine increased, none decreased, and one was unchanged. Following last month’s record high of 110, the Uncertainty Index declined 12 points in November to … [More]
Governor Launches ConnectAllAZ to Bring High-Speed Internet to All Arizonans
Initiative will deploy investments to increase broadband connectivity across the state
Governor Katie Hobbs announced ConnectAllAZ, a new initiative to ensure all Arizonans have access to information about statewide broadband programs. ConnectAllAZ brings all of Arizona’s broadband expansion efforts, including the historic $993 million in funding for the Broadband Equity, Access and Deployment (BEAD) Program, under one initiative, and aims to provide a complete … [More]
Toast and Uber Expand Partnership, Arizona Restaurant Seeing Benefits
Toast, the all-in-one technology platform built for restaurants, and Uber Technologies, Inc. are excited to announce an expanded partnership, giving restaurants increased choice, and their guests more ways to get their favorite foods delivered to their door while helping restaurants reduce costs and expand their reach. Toast and Uber Direct customers are already seeing … [More]
2025 Predictions: Pent-Up Demand Will Lead to More Home Sales, but Many Would-Be Buyers Will Opt to Rent
Rental prices should stay flat while wages increase, improving affordability for renters, as the cost of buying a home rises
Redfin’s economists expect there will be more home sales in 2025, largely due to pent-up demand. But some would-be homebuyers will still be priced out, with home prices climbing and mortgage rates remaining near 7%. That’s according to annual housing market predictions from Redfin, the technology-powered real estate brokerage. Prediction 1: Home Prices Will Rise 4% Redfin … [More]
Chipmaker to Shut Down Tempe Fabrication Facility
Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, provided lower updated revenue guidance for the December 2024 quarter and announced manufacturing restructuring plans. This will include the shuttering of the Tempe wafer fabrication facility, referred to as Fab 2, in September 2025. "In the first two weeks of my … [More]
Intel Announces Retirement of CEO, Names Interim Co-CEOs
Intel Corporation announced that CEO Pat Gelsinger retired from the company after a distinguished 40-plus-year career and has stepped down from the board of directors, effective Dec. 1, 2024. Intel has named two senior leaders, David Zinsner and Michelle (MJ) Johnston Holthaus, as interim co-chief executive officers while the board of directors conducts a search for a new … [More]
