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Memphis International Airport has lost its status as a Delta hub, but it’s gaining a new reputation for lower air fares—which is much more appealing in the eyes of tourists and airport officials who are hoping for a boost in traffic. The airport’s average domestic fares fell to $434 in the fourth quarter of 2013 from $487 in the same quarter of 2012, according to a new U.S. Department of Transportation report. That’s a drop of about $50 per ticket on average. Moving to Memphis? You might want to consider flying over (at a now discounted rate!) to check out the city, find a place to live, and visit some of the local hot spots.

Compared to the other top 100 airports in the U.S., Memphis had the 14th highest fares – down from No. 7 in the fourth quarter of 2012. The lower ticket prices are apparently bumping up traffic originating from and coming to Memphis, the release said. Origin and destination traffic is up nearly 65,000 passengers in fiscal year 2014 over the same period of fiscal year 2013.

The number of construction, mining and logging jobs in the Memphis area fell 3 percent to 19,400 in March from 19,900 in March 2013, the Associated General Contractors of America reported. Memphis was not the only Tennessee market to lose jobs—Chattanooga was the only other metro to report a drop in employment – a 3 percent decline, giving it the same rank nationally as Memphis. As far as actual jobs, the 3 percent gap equates to about 500 jobs, bringing the Memphis number of construction, logging, and mining jobs to 19,400.

Memphis’ job loss rate was the 289th worst of 339 U.S. metros – an improvement in the rankings from January. The rest of the state saw an average construction employment increase of 4 percent. Thinking of moving to Memphis and working in the construction industry? Now might be a tricky time to move and search for a job, but if you have work lined up it might be worth the relocation.

Commercial real estate sales had a strong month this past March, supporting the trend of a successful quarter for commercial sales as well for 2014. The 208 sales in the first quarter were up 6.l percent from 196 sales in the first quarter of 2013. Commercial sales volume for the quarter was $319.6 million and the average sales price for a commercial property was $1.53 million, with an average price per square foot of $38.34. That compares to sales volume of $254.9 million and an average sales price of $1.3 million in the first quarter of 2013. Commercial real estate in Shelby County is still riding a wave of momentum from the tail end of 2013 that is still going strong into 2014.

Shelby County recorded 99 commercial sales in January, which was up 10 percent from 90 in January 2013. Commercial sales were up 12 percent in February, with 48 sales recorded compared to 43 recorded in February 2013. Shelby County recorded 61 commercial sales in March with a total sales volume of $115.1 million and an average sales price of $1.88 million, down 3 percent from 63 sales in March 2013. Shelby County recorded 829 commercial sales in 2013, the most commercial sales recorded since 2008. That number is predicted to be eclipsed by 2014, as long as the supply, demand, and momentum all remain intact.

The Greater Memphis area continued to lose construction jobs in January at a faster rate than most other U.S. metros. Memphis’ number of construction, mining and logging jobs fell 6.6 percent to 18,500 in January from 19,800 in January 2013, the Associated General Contractors of America has reported. In Tennessee, which struggled as a whole in January to create construction jobs, the Greater Nashville area had the best rank at No. 22 in the U.S.

As for Memphis, the slow efforts to rebuild the metro and recover from the housing crisis have been a detrimental process for the local economy. Issues like highways that need funding for remodeling are plaguing the city rather than pushing it forward. New construction in Memphis has slowed for now, but hopefully once the winter passes and the warmth returns there will be a renewed interest in buying, building, and selling.

This winter was a tough one, and for many real estate insiders, the weather was also the cause of a slowed down real estate market in Memphis and beyond. Shelby County homebuilders filed 67 permits in February, down from 73 permits in February 2013 but up slightly from 64 permits filed in January, according to real estate information company Chandler Reports. Suburban locations in Shelby County continued to lead the way in homebuilding activity.

The Kensington subdivision in Arlington saw the most new home permits filed in February, with six averaging 2,858 square feet and $191,836. The Crisscross Village subdivision in Collierville came in second with five permits averaging 3,554 square feet and $249,900. The Porter Farms subdivision in Collierville recorded five permits, averaging 2,786 square feet and $245,200. Shelby County homebuilders filed 64 permits in January, up from 57 permits filed in January 2013 and 53 permits in December 2013.

The spring season is generally a strong time for the real estate market, so the next few weeks will be important in determining the year’s success overall for Memphis real estate.

Urban sprawl is still a problem for many areas throughout the US, including Memphis. Smart Growth America ranked the Greater Memphis area as having the sixth worst sprawl on its large metros list with an index score of 70.8. New York City, also predictably, had the least sprawl with the highest index score of 203.4.

So what does living in Memphis mean in relation to urban sprawl? People who live in cities with less sprawl have more economic mobility, are healthier, and live longer, so the need to improve this in Memphis is quite important. Across all 221 metros considered, regardless of size, Memphis came in near the bottom of the list at No. 196. Shelby County also made the list with an index score of 116.7 and DeSoto County with a score of 87.8.

While the struggle for a steady economy has been a rough toad, the Greater Memphis area unemployment rate fell in January at a faster rate than in Tennessee or the U.S., according to a new report by the Tennessee Department of Labor and Workforce Development. Metro Memphis’ unemployment rate fell to 8.4 percent in January from 10 percent in January 2013, with 49,860 people looking for jobs out of a labor force of 590,720. The report has been a positive take on the local economy and shows continued growth in Memphis.

Thinking of moving to Memphis? The growing stability of the employment sector should make you feel more confident in making the relocation a reality. See you in Memphis!

Social media site WalletHub.com has released a list of the best places financially for new business owners to set up shop. Based on a unique set of 14 criteria, Memphis was able to come out towards the top for a variety of reasons. While the city ranks toward the bottom of the pack in terms of recent entrepreneurial activity, the 5-year survival rate of local businesses, and the share of the workforce with at least a bachelor’s degree, it also has the 27th most industrial variety, the 12th deepest employee pool, and the 9th lowest cost of living. In other words, things aren’t great there yet but a great deal of opportunity exists for new companies that enter the market moving forward.

Thinking of moving to Memphis and opening a company? The turmoil the Memphis economy has endured throughout the Great Recession and the painstaking recovery that has ensued is, interestingly enough, one of the primary dynamics underpinning its position among the best cities in the country to start a business.

In a country of fluctuating mortgages, ping ponging list prices, and other real estate uncertainties, it’s nice to know some areas of the country are still extremely affordable. And even better, one of those places happens to be Memphis! The Memphis cost of living, according to CBS News, is as follows:

Average Rent: $709

Price of a home: $208,000

Can of coffee: $4.05

Dozen eggs: $1.62

While these are only a few factors, they help rank Memphis in the #4 spot in the Council for Community and Economic Research study. The study examined 308 urban areas throughout the country and came up with the list of the ten least expensive places to live.

Looking to escape the cold here in Memphis? Vacation Express will fly out of Memphis International Airport weekly non-stops to and from Cancun May 19 through Aug. 4 using airline Aeromexico, and will fly multiple times a week to and from Grand Bahama Island Aug. 11 through Oct. 25 using BahamasAir, according to a release by the airlines. The nonstop flights are a temporary addition to the airline schedules, and Vacation Express is offering six-night packages for Cancun and four-night packages for Grand Bahama Island. Start planning your summer getaway and think warm thoughts in this icy winter!

The flights are an exciting step for the Memphis-Shelby County Airport, as they represent another effort to provide affordable flights and vacations for residents as well as tourists looking to visit Memphis. Who would have thought you could head nonstop to some of the most famous vacation spots from our Shelby County airport? Book now while flights are still available!