Nationwide, roughly 64,000 home-purchase agreements fell through in August, equal to 15.2% of homes that went under contract that month. That’s up from 12.1% a year earlier and is comparable with July’s revised rate of 15.5%, according to a new report from Redfin, the technology-powered real estate brokerage. The percentage has now hovered around 15% for the past three … [More]

Nationwide, 44.6% of home offers written by Redfin agents faced competition in August, the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly ground to a halt, according to a new report from Redfin, the technology-powered real estate brokerage. It’s down from 63.5% a year earlier and a revised rate of 47.2% in July, and marks the … [More]

A record 33.9% of Redfin.com users nationwide looked to move from one metro to another in July and August, according to a new report from Redfin, the technology-powered real estate brokerage. That’s up from 32.6% in the second quarter and about 26% before the pandemic. The U.S. housing market has slowed considerably from the height of the pandemic homebuying frenzy, … [More]

The NFIB Small Business Optimism Index rose 1.9 points in August to 91.8, marking the eighth consecutive month below the 48-year average of 98 but reversing some of the declines in the first half of the year. Twenty-nine percent of owners reported that inflation was their single most important problem in operating their business, a decrease of eight points from July’s highest … [More]

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in August on a seasonally adjusted basis after being unchanged in July, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.3 percent before seasonal adjustment. Increases in the shelter, food, and medical care indexes were the largest of … [More]

For the second year in a row, Arizona economic development efforts broke records. During the 12-month fiscal period that ended June 30, 2022, the Arizona Commerce Authority (ACA) and local economic development agencies successfully worked with companies that committed to creating a projected 24,186 new Arizona jobs - a single year record. Those companies also committed to … [More]

The NFIB Research Center released the latest industry-specific Small Business Economic Trends report highlighting small businesses in the construction, manufacturing, retail, and services industries. The overall Optimism Index in July was 89.9. “Small business owners in various industries continue to manage historic economic headwinds that are impacting their … [More]

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for July 2022. Annual home price growth slowed for the third consecutive month in July but remained elevated at 15.8%. As 30-year, fixed-rate mortgages neared 6% this summer, some prospective homebuyers … [More]

Small business owners continue to hire, but 49% (seasonally adjusted) of owners reported job openings they could not fill in the current period. “The labor market continues to be a significant challenge for small business owners,” said NFIB Chief Economist Bill Dunkelberg. “Owners are managing several economic headwinds and continue to make business adjustments to … [More]

Total nonfarm payroll employment increased by 315,000 in August, and the unemployment rate rose to 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, health care, and retail trade. This news release presents statistics from two monthly surveys. The household survey measures labor force … [More]

The U.S. housing market offered buyers more breathing room to make decisions in August, with the first1 year-over-year increase in time on market (+5 days) since June 2020, according to the Realtor.com® Monthly Housing Trends Report released today. Additionally, August home shoppers had more active listings to choose from than last year (+26.6%), even as new sellers continued … [More]