Mortgage rates are sitting near a two-decade high and U.S. home prices rose 3% year over year during the four weeks ending September 17, pushing monthly housing payments to an all-time high. That’s according to a new report from Redfin, the technology-powered real estate brokerage. What homebuyers are doing: Waiting for homes to become more affordable and for more of … [More]

A new analysis by Airlines for America (A4A) – the industry trade group representing major U.S. carriers – reveals there are nearly 30 million U.S. airline credit card holders in the United States who rely on their airline credit cards to accrue loyalty points, which can be used for travel, flight upgrades and other benefits such as dining at local restaurants or shopping for … [More]

New listings rose 1.8% sequentially in August, bucking the typical July-to-August seasonal trend of decline. Last year, new listings declined 12.8% in August, the second month in a streak of six month-to-month declines that ended in January. Home sales rose 7.4% over July and the Median Sales Price of $425,000 was unchanged across the 50 metro areas surveyed. Meanwhile, … [More]

Residential real estate deals are falling through at the highest rate in almost a year as high mortgage rates give homebuyers sticker shock, according to a new report from Redfin, the technology-powered real estate brokerage. Nationwide, nearly 60,000 home-purchase agreements were canceled in August, equal to 15.7% of homes that went under contract that month. That’s up … [More]

Freeport-McMoRan Inc. announced the publication of its annual Climate Report outlining FCX’s ongoing progress to advance its climate strategy focused on reducing its greenhouse gas (GHG) emissions, enhancing its resilience to climate risks and contributing responsibly produced copper to the global economy. Richard C. Adkerson, Chairman of the Board and Chief Executive … [More]

Nearly eight out of 10 small business owners feel a strong degree of confidence that their companies will grow over the next year even amid rocky market conditions, according to a new survey. The ninth annual First Citizens Bank Small Business Forecast found 79% of owners to be somewhat or very confident their small businesses will experience growth over the next 6-12 months, … [More]

U.S. home price gains rebounded year over year in July, increasing to 2.5% and following two months of 1.6% annual gains. The annual reacceleration reflects six consecutive monthly gains, which drove prices about 5% higher compared to the February bottom. The 11 states that saw home price declines were all in the West, but since many of those markets continue to struggle with … [More]

NFIB’s Small Business Optimism Index decreased 0.6 of a point in August to 91.3, the 20th consecutive month below the 49-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important business problem, up two points from last month. The net percent of owners raising average selling prices increased two points to a net … [More]

Activity from cloud service providers continues to drive construction in Phoenix in the first half of 2023, helping the market retain its status as one of the primary data center markets* in North America, according to a new report from CBRE. There is 163.5 MW under construction in H1 2023 and 88.07% percent of the under-construction inventory in Phoenix is already preleased – … [More]

Governor Katie Hobbs attended two events highlighting Arizona’s booming economy and investments in workforce training. Governor Hobbs attended and gave remarks at the Greater Phoenix Chamber Foundation Workforce Summit that brought together employers and education leaders from across the state. The event focused on discussions about workforce trends and tangible workforce … [More]