The NAIOP CRE Sentiment Index, a key forecast of commercial real estate market conditions over the next 12 months, has increased significantly from the last survey in fall 2023. The Index rose to 52, from 46 in September, indicating that respondents expect conditions for commercial real estate development to be somewhat better over the next year. The NAIOP CRE Sentiment … [More]
Housing and Homelessness Are Major Issues for Arizona Voters; Strong Desire for State and Local Government to Do More
The 2024 Arizona Voters’ Agenda reveals voters want elected leaders to do more to deliver solutions
Center for the Future of Arizona (CFA)– a nonpartisan, nonprofit organization with a mission to bring Arizonans together to create a stronger and brighter future for the state– unveiled new survey data on housing from its 2024 Arizona Voters' Agenda. The findings reflect the views of likely Republican, Democratic, and independent/unaffiliated voters of all ages and highlight … [More]
Kohler Opens State-of-the-Art Manufacturing Facility in Casa Grande, Creating 400 Full-Time Jobs
Kohler Co., a global leader in kitchen and bath products headquartered in Kohler, Wisconsin, officially opened the doors to its new manufacturing facility in Casa Grande, Arizona, with a ceremonial ribbon-cutting event hosted by company leadership. Among those in attendance were Arizona Governor Katie Hobbs, some of the new Kohler associates filling more than 400 full-time … [More]
Investor Home Purchases Rise for the First Time in Nearly Two Years
Real estate investors bought 19% of U.S. homes that sold in the first quarter—the highest share in almost two years
Real estate investors bought roughly 44,000 U.S. homes in the first quarter of 2024, up 0.5% from a year earlier—the first increase since the second quarter of 2022. That is according to a new report from Redfin, the technology-powered real estate brokerage. Investor activity in the housing market is stabilizing following several years of dramatic ups and downs. Investor … [More]
Large Majority of Arizona Voters Want Bipartisan Solutions to Border Crisis; Immigration Reform
Center for the Future of Arizona (CFA), a nonpartisan, nonprofit organization with a mission of bringing Arizonans together to create a stronger and brighter future for the state, released findings today from its Arizona Voters' Agenda related to the topic of immigration. From survey research of likely Republican, Democratic, and independent/unaffiliated voters of all ages, the … [More]
Arizona Voters Want Better Planning for Future Growth; Firm Against Cuts to Core Services
The 2024 Arizona Voters’ Agenda findings highlight a clear call for leadership and sustainable solutions
Center for the Future of Arizona (CFA) unveiled key findings on the views of voters regarding state spending issues as part of its ongoing reveal of the 2024 Arizona Voters' Agenda. Through nonpartisan survey research of Republican, Democratic, and independent/unaffiliated voters of all ages, the Voters' Agenda identifies what likely voters agree on and prioritize. The new … [More]
New Terminal Coming to Sky Harbor, Not Anticipated to Begin until After 2030
Phoenix Mayor Kate Gallego and members of the Phoenix City Council heard plans to build a new terminal at Phoenix Sky Harbor International Airport. With more than 48 million passengers in 2023 and passenger numbers continuing to grow, a new terminal is necessary to meet passenger demand and maintain a high level of service. “Phoenix Sky Harbor is busier than ever, which is … [More]
ACA Launches New Tools to Support Arizona Small Businesses with Loan Guarantee Program
New loan guarantee and technical assistance programs available for small businesses
Access to capital ranks as one of the largest barriers facing small business owners. To promote small business stability, growth, and success, especially among entrepreneurs from underserved communities, Governor Hobbs and the Arizona Commerce Authority (ACA) have partnered with community financial institutions and mentors to launch a new suite of small business support … [More]
Record-High Monthly Payments Chill Spring Home Selling Season, Declining Rates Could Boost Activity
High home prices and rates sent home sellers and buyers to the sidelines in April and the start of May—but last week’s encouraging economic news drove mortgage rates down a bit
The median U.S. monthly housing payment hit an all-time high of $2,894 during the four weeks ending May 5, up 14% from a year earlier, and home prices rose 4.5% to their own record high. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The supply of homes for sale lost momentum, with prospective sellers jittery about high … [More]
Majority of Arizona Voters Agree on Key Issues Ahead of Elections
2024 Arizona Voters’ Agenda illuminates voters’ priorities and big questions for candidates
Center for the Future of Arizona (CFA) announces the release of the 2024 Arizona Voters' Agenda, developed from a new statewide survey of likely Republican, Democratic, and independent/unaffiliated voters of all ages. This vital initiative identifies the issues voters agree on across political and generational lines to inform election discourse. CFA will release the Arizona … [More]
Small Business Job Openings Rise in April
Unfilled job openings increase as labor market remains tight
According to NFIB’s monthly jobs report, 40% (seasonally adjusted) of all owners reported jobs openings they could not fill in the current period, up three points from March, which was the lowest reading since January 2021. The percent of small business owners reporting labor cost as their top small business operating problem increased one point from March to 11%, only two … [More]
Arizona Announces BuildItAZ Apprenticeship Initiative Grant Awards to Expand the Construction and Trades Workforce
Governor Hobbs is announcing more than $650,000 in grant awards to five construction and trades registered apprenticeship programs. This round is the first phase of Governor Hobbs multi faceted BuildItAZ Apprenticeship Initiative to advance the state’s skilled construction workforce. The initiative aims to double the number of construction trades registered apprentices by 2026 … [More]
Phoenix Airport System’s Economic Impact Is $44.3 Billion, Says New ASU Study
According to a new Arizona State University W.P. Carey School of Business study, the economic impact of the Phoenix Airport system has increased nearly 15% since 2016. The study, which is based on calendar year 2022 figures, shows that Phoenix Sky Harbor, Phoenix Deer Valley, and Phoenix … [More]
SBA Arizona Honors National Small Business Week Award Winners
Thirteen Arizona Small Businesses and Champions to be Recognized at Local and National Ceremonies
In celebration of National Small Business Week (NSBW), April 28 – May 4, the U.S. Small Business Administration (SBA) is honoring Arizona entrepreneurs, small business champions and lending partners for their contributions to the economy. Over 99 percent of the businesses in the state are small businesses. Small businesses drive innovation and job growth, vital to Arizona’s … [More]
Buying a Home Costs More Than Ever, With Prices Hitting All-Time High and Mortgage Rates Rising, Despite Metro Phoenix Increase in New Listings
The median U.S. home-sale price hit a record $383,725 during the four weeks ending April 21, up 5.2% from a year earlier—one of the biggest jumps since October 2022. That’s according to a new report from Redfin, the technology-powered real estate brokerage. The Phoenix Metro area saw a 25.8% year-over-year increase in new listings in this period. The average weekly … [More]
HUD Kicks Off a Series of New Actions to Help Communities Fight Extreme Heat
The U.S. Department of Housing and Urban Development (HUD) announced new actions helping support communities to increase resilience to extreme heat. For the first time in its history, HUD published a webpage on Extreme Heat that serves as a hub highlighting actions communities can take to prepare and respond to extreme heat events and available resources to help fund climate … [More]
Nearly 40% of Homeowners Couldn’t Afford Their Home if They Were to Buy It Today
Nearly two of every five (38%) homeowners don’t believe they could afford to buy their own home if they were purchasing it today, according to a new report from Redfin, the technology-powered real estate brokerage. This is based on a Redfin-commissioned survey of roughly 3,000 U.S. residents conducted by Qualtrics in February 2024. Nearly three in five (59%) homeowners … [More]
NHL Board Approves Establishment of New Franchise in Utah, Renders Arizona Coyotes Franchise Inactive
The National Hockey League’s Board of Governors today approved the establishment of a franchise beginning with the 2024-25 season in Utah, that will be owned and controlled by Smith Entertainment Group, which is led by Ryan and Ashley Smith. In addition, the Board approved a plan that renders the Arizona Coyotes franchise inactive, with a right to reactivate if owner Alex … [More]
