The median sales price of existing single-family homes in the Tucson Metropolitan Statistical Area (MSA) increased by 7.1% last year. That resulted in a 12-year high with prices at $238,900. Home prices have steadily increased in Tucson and across the...
The spread of COVID-19 has created adverse economic impacts for the nation and these impacts will grow in coming weeks and months. Arizona will not escape the damage. The national economy will be in recession very soon, if it is...
In 2018, the percentage of people living in a household with broadband internet access was 86.9% in the Tucson Metropolitan Statistical Area (MSA), placing it seventh among 12 comparable MSAs and just ahead of the national rate. Technology is an...
Yes! According to a recent report by the Brookings Institute , Tucson has the potential to become one of America’s next dynamic innovation centers. In Brooking’s opinion, the future of America’s economy lies in its high-tech innovation sector. The report...
The Tucson Metropolitan Statistical Area (MSA) generated inflation-adjusted GDP growth of 3.6% in 2018. That growth ranked Tucson eighth out of 12 comparable western MSAs. Tucson’s growth was just behind the state’s rate of 4.1% but ahead of the nation...
In 2018, Arizona posted a patent rate of 8.6 patents per 10,000 workers. This ranked Arizona seventh among 10 western states and slightly behind the national rate. Arizona’s patent rate has declined for two straight years, but remains well above...
We know that access to recreational opportunities is important for our well-being, but have you ever wondered how much economic value those opportunities add to the region? Recently released data by the Bureau of Economic Analysis (BEA) shows that the...
Mexico became the #1 trading partner of the U.S. in 2019, surpassing China for the first time ever. However, Mexico has long been Arizona’s #1 trading partner. As shown in Figure 1, Arizona exported $22.5 billion in goods to the...
In 2018, the Tucson MSA generated no growth in the number of establishments employing workers. This ranked Tucson 12th among peer western MSAs. Tucson’s growth in business establishments was down from 0.6% in 2017. Despite Tucson’s slow or non-existent growth...
