According to the November 2014 monthly report from Arizona State’s W.P. Carey School of Business, our Phoenix housing market is unlikely to see a significant boost until next year. Here are some of the highlights from the report.
Downtown Mesa restaurants, or the lack thereof, are becoming a focal point as a couple of initiatives are moving to attract new eateries to the area. Getting more choices for food along the new light rail corridor is a popular goal among those concerned about the economic good of the sector.
The Phoenix City Council voted earlier this month to approve the Phoenix Parklet Program. Administered through the Planning & Development Department, a parklet is a seating platform that converts two or more curbside parking spaces into vibrant community spaces.
The month of August saw a 5.2 percent decrease in the number of closed sales compared with July 2014. Approximately 5,800 residential properties sold in Maricopa County. Sellers may be interested to know the follow statistics before pricing and listing their homes.
Michael Debbins and his Boy Scout Troop 16 completed a major outdoor renovation project at Keystone Montessori in Ahwatukee, providing a functional backyard environment for the lower elementary classrooms. The project included repurposing existing pavers, relocating composters, moving existing ground-level planter beds and stonework, and adding custom-made raised planter boxes and handcrafted benches to create a more beautiful outdoor space for the school children. Over 150 man-hours were invested on project day.
Job creation and construction spending are on the rise in the home building industry, government sources report. Though modest compared to their respective peaks, industry watchers agree the increases demonstrate market recovery continues its slow march forward.
Arizona’s economy continues to mend, spurred largely by people buying cars and parts. Newly released figures from the Department of Revenue show retail sales reported to the state in September topped $4.2 billion. That reflects purchases made in August.
America’s middle class used to be the proud backbone of our economy. They made things, things of value that other people would pay for. Not only did the middle class prosper, they were the driver of America’s emergence as the world’s economic superpower.
Some commuters in the Phoenix metropolitan area are able to take advantage of less congested rush-hour travel in the more than 175 miles of HOV lanes within the Valley freeway system. While any vehicle with two or more occupants can be in the lanes, some vehicles are allowed to use HOV lanes with just one occupant.
Americans are more confident in the U.S. economy than at any point in the past five years, thanks to surging home values, a brighter job market and record-setting stock prices. Stock averages last month extended the year’s explosive rally. Further gains in consumer confidence could help the economy withstand the effects of higher taxes and federal spending cuts that kicked in this year. Spending by consumers drives about 70 percent of economic growth.