More Americans Chose to Own a Home Than Rent in First Qtr 2017

More Americans Chose to Own a Home Than Rent in Q1 | Simplifying The Market

According to the latest report from the US Census Bureau, more Americans chose purchasing a home over signing a lease to rent in the first quarter of 2017. This marks the first time since 2006 that the number of new homeowner households outpaced the number of new renter households.

Of the 1.22 million new households that were formed in the first quarter, 854,000 were new-owner households making the jump straight to homeownership rather than renting first.

That means that the homeownership rate amongst new households was 70%!

This is huge news as the national homeownership rate is currently 63.6% and has only ever come close to this figure in the second quarter of 2004 when the homeownership rate reached an all-time high of 69.2%.

A recent Wall Street Journal article pointed to the uptick in first-time homebuyers coming to market as a reason for the jump:

“The return of first-time buyers is accelerating. In all they have accounted for 42% of buyers this year, up from 38% in 2015 and 31% at the lowest point during the recent housing cycle in 2011, according to Fannie Mae, which defines first-time buyers as anyone who hasn’t owned a home in the past three years.”

Ralph McLaughlin, Trulia’s Chief Economist, had this to say about what a bump in new homeowner households could mean for the housing market:

“Strong renter household formation is one of the reasons why the homeownership rate has continued to drop since the onset of the housing crisis, so any sign this trend is reversing is something to take note of. We look forward to future releases of these data to determine whether this is a statistical blip or a trend.”

Bottom Line

As more and more potential first-time buyers realize their ability to buy a home without having to rent first, not only will the homeownership rate benefit, but so will the overall economy.   Give me a call to get started on your path to homeownership – J.P. Cook – 602-510-6430.

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13735 E Columbine Drive Scottsdale, AZ 85259

$2,175,000
4 Beds
3 Baths
3,192 SqFt
Status Active
MLS # 6732872
Property Type Single Family Residence
Price Type --
Do you want city views? Do you want mountain views? Do you want a completely remodeled home? Well, you just found it and for under $2.2M! This gorgeous home is on a cul-de-sac street with a south facing backyard for city light views. Your view from the front is only the mountain because the mountain is literally across the street! This home is perfect for cozy family night's in, or entertaining friends and neighbors. With the stunning pool and back yard amenities framed by a southern mountain and city lights view - why go any where else? The modern elegence of this home is enhanced by the quality finishes and design. Absolutely nothing was missed, so your new hillside home is ready for you to move into today!

12856 E Rosewood Drive Scottsdale, AZ 85255

$2,173,649
3 Beds
3.5 Baths
4,089 SqFt
Status Active
MLS # 6819178
Property Type Single Family Residence
Price Type --
Just Completed! Stunning Rosewood Desert Contemporary style home sits on large North/South lot w/ mountain views in Scottsdale. Located in award-winning gated ''Community of the Year'' Rosewood Highlands at Storyrock w/ miles of nearby walking & hiking trails in the McDowell Sonoran Preserve. This fabulous Great Room design features indoor/outdoor living w/ 10-ft tall by 16-ft wide Disappearing Wall of Glass. Beautiful interior includes gorgeous wood floors, impressive fireplace, 12 ft ceilings, expansive Anderson view windows, wonderful Master Suite w/ spa-like Bath, ensuite Bedrooms, Den, oversized 3-Car Garage plus expansive Storage Area & Impressive Kitchen w/custom cabinetry, authentic Quartzite countertops, Wolf ProStyle Gas Range, 48'' SubZero Ref/Freezer + wine ref & more. Must see

4131 E Roma Avenue Phoenix, AZ 85018

$2,163,000
5 Beds
4.5 Baths
3,727 SqFt
Status Active
MLS # 6744606
Property Type Single Family Residence
Price Type --
An address that gets you into Hopi Elementary, plus timeless, contemporary design that features generous-sized bedrooms, high ceilings and large windows that let in gorgeous natural light. This property features a great floor plan: on the main floor you'll find the owner's suite (complete with stackable W/D in the closet), an open concept living area, beautiful kitchen, plus another en-suite bedroom and powder bath. Upstairs, you'll love the vaulted ceiling and breathtaking views of Camelback and the Phoenix Mtn Preserve. The second level features a large bonus room, three bedrooms, a powder bath, laundry room and generous patio - perfect to sit outside and savor the scenery. A heated pool and low-maintenance yard means more time to enjoy nearby Kachina Park and popular Arcadia hot spots.

7175 E Rancho Del Oro Drive Scottsdale, AZ 85266

$2,160,000
4 Beds
4.5 Baths
4,124 SqFt
Status Active
MLS # 6818724
Property Type Single Family Residence
Price Type --
The Sedona, a contemporary open-concept design, Spec-home soon to be constructed. This luxury home features an island kitchen with top-tier Wolfe and Subzero appliance package, perfect for culinary enthusiasts. The property includes a paver driveway, oversized three-car tandem garage, and 49' RV garage, ideal for car collectors and RV enthusiasts. The plan includes four bedrooms plus an office, 4.5 bathrooms, a grand guest suite with its own living area, and an upscale owner's suite with a freestanding tub, walk-through double shower, and oversized walk-in closet. Details such as 90/10 smooth contemporary wall finish, 8' doors, elevated ceilings, 2x6 ext. walls, post tension foundation, spray foam insulation exemplify upscale living. Features, Photos & options are from a completed model.

3875 N Stagecoach Road Camp Verde, AZ 86322

$2,150,000
6 Beds
8 Baths
6,035 SqFt
Status Active
MLS # 6797510
Property Type Single Family Residence
Price Type --
UNIQUE ONCE IN A LIFETIME OPPORTUNITY! Welcome to Hacienda de la Mariposa, a one-of-a-kind authentic Spanish-style estate offering unparalleled beauty and tranquility. Nestled in the heart of Rimrock, Arizona. Centrally located, this exquisite property is just a short drive away from the vibrant attractions of Sedona, Verde Valley, and Flagstaff.This luxurious 4-bedroom, 4 1/2-bathroom home promises an unforgettable retreat that blends the serene charm of the Southwest with modern elegance and comfort. As you step through the front door, the warm, inviting atmosphere envelops you, guiding you into a living space where traditional Santa Fe aesthetics meet contemporary luxury. The interior boasts classic vigas across the ceilings, smooth plaster walls, and Saltillo tile floors, (read more) all complemented by a tasteful collection of southwestern art that adorns the walls. The heart of this home is undoubtedly the chef's kitchen, equipped with state-of-the-art appliances, ample counter space, and a generous island. Whether you're an amateur cook or a seasoned chef, this kitchen invites you to indulge in culinary exploration, making every meal a memorable experience. Each of the three bedrooms is a private haven, offering plush bedding, en-suite bathrooms, and unique touches that create a cozy, tranquil ambiance. The bathrooms are spa-inspired, featuring walk-in showers, deep soaking jetted tubs, and artisan tiles that add a splash of color and character. Step outside to discover your private paradise, where the beauty of the desert landscape meets luxurious outdoor living. The centerpiece is a stunning pool, perfect for cooling off on those warm Arizona days or lounging under the clear blue skies. Surrounding the pool, the beautifully landscaped courtyard creates a peaceful backdrop, with native plants and flowers adding vibrant splashes of color. As the sun sets, the outdoor area by the river becomes the ideal spot for gathering around a crackling campfire. Share stories, roast marshmallows, and enjoy the tranquil sounds of nature under a canopy of stars. It's moments like these that turn vacations into lasting memories. Beyond this serene haven, the vibrant city of Verde Valley offers endless opportunities for adventure and exploration. Just a short drive away, the mystical red rocks of Sedona beckon with their breathtaking beauty, offering hiking, biking, and photography opportunities. Local attractions, including world-class golf courses, shopping, and dining, are conveniently close, ensuring your stay is both relaxing and enriching. Whether you're seeking a peaceful retreat to unwind and reconnect with nature or an adventurous escape to explore Arizona's stunning landscapes and vibrant culture, our Santa Fe-style home is the perfect base for your journey. Book your stay with us and experience the best of the Verde Valley, where luxury meets the timeless charm of the Southwest! **Note** The creek is a seasonal creek and does not flow most of May and June but can start flowing if the monsoon is active. Hold it as a primary residence or rental, this stunning Airbnb offers the perfect backdrop for weddings and events. The expansive grounds offer plenty of opportunities for outdoor activities and photo sessions, allowing guests to immerse themselves in the natural beauty that surrounds them.

12857 E Rosewood Drive Scottsdale, AZ 85255

$2,150,000
3 Beds
3.5 Baths
3,727 SqFt
Status Active
MLS # 6827866
Property Type Single Family Residence
Price Type --
WOW. 200k reduction!! This exceptional NEW home is set within a prestigious gated neighborhood with 360 mountain views, designed to impress from the moment you arrive. Close to a half a MILLION added in upgrades by the homeowner after closing. The exterior features sleek, clean lines with a large glass entry door, allowing natural light to flood the open spaces. A modern blend of materials such as limestone, rock, stucco, and metal creates a harmonious, stylish look that complements its luxurious surroundings. Inside has been recently painted, every room exudes sophistication with impeccable finishes, including high-end oak hardwood floors, custom cabinetry with molding top to bottom, and designer fixtures. The open-concept living area features a spacious living room with a modern touch a gourmet kitchen equipped with to equipped with top-of-the-line stainless steel appliances, gas stove, quartz countertops, wine fridge, large walk-in pantry and a large island perfect for entertaining. The kitchen seamlessly flows into a dining area, creating an ideal space for gatherings. The bedrooms are spacious and bright, with large windows that offer stunning views of the Tom's Thumb and more of the Sonoran Preserve and surrounding landscape. The master suite is a true retreat, complete with a spa-like bathroom featuring a freestanding soaking tub, enclosed shower, dual vanities and walk-in closet featuring custom dust-free cabinetry style. Each guest bedroom has its own private bathroom and closet. Den has recently been redone with a glass wall. The home also boasts smart-home technology for convenience, as well as expansive outdoor spaces including recently landscaped backyard with artificial turf, limestone, a patio area for lounging, pergola lounge area and custom outdoor sauna with nearby outdoor shower. This is PRIME LOT overlooking the preserve and Tom's Thumb. The entrance to the community is marked by an elegant sense of arrival, enhanced by a stunning architectural layout. Adjacent to the expansive 30,000-acre McDowell Sonoran Preserve, the home offers access to nature with nearby trailheads, making it the perfect location for those who enjoy outdoor adventures. This home is sleek, modern, low maintenance and ready to be yours. MUST SEE!!

9266 E Desert Village Drive Scottsdale, AZ 85255

$2,150,000
4 Beds
4 Baths
3,062 SqFt
Status Active
MLS # 6827575
Property Type Single Family Residence
Price Type --
Experience luxury living in this stunning DC Ranch home, where elegance meets modern comfort. Boasting 4 BR, a teen/flex space, and 4 full BA, this open-concept masterpiece is designed for seamless indoor-outdoor living. The chef's kitchen features a large island, perfect for entertaining, while the expansive glass slider invites natural light and stunning views. Situated on a prime lot, enjoy privacy, scenic views, and easy access to trails and amenities. The remodeled pool, spa, turf, and outdoor kitchen create a resort-like retreat. A 4-car garage provides ample storage. Enjoy the exclusive DC Ranch lifestyle with world-class clubhouses, fitness, and dining.

11225 E Starflower Court Chandler, AZ 85249

$2,150,000
5 Beds
4.5 Baths
5,074 SqFt
Status Active
MLS # 6828846
Property Type Single Family Residence
Price Type --
Stunning Custom Home with Resort-Style Amenities!!! This exquisite custom-built home offers 5 spacious bedrooms, 4.5 luxurious bathrooms, and sits on a sprawling acre lot. Entertain in style with a private, resort-like backyard featuring a sparkling pool, basketball/ sport court, and a pristine putting green. Enjoy outdoor living at its best with a fully equipped outdoor kitchen, perfect for al fresco dining. This home combines comfort, elegance, and unparalleled amenities for an exceptional living experience. Oversized 4 car garage for all your toys.

18934 E Vallejo Street Queen Creek, AZ 85142

$2,150,000
5 Beds
4.5 Baths
3,854 SqFt
Status Active Under Contract
MLS # 6771559
Property Type Single Family Residence
Price Type --
Want to move but sad you missed out on those crazy low interest rates? This amazing home comes with an ASSUMABLE interest rate of 2.25% This luxury home has everything you want- shows like a model home, with all the upgrades and everything has been done for you. No expense spared and meticulously maintained. All the bedrooms have ensuite bathrooms. Entertain and cook in the gorgeous chef's kitchen with high end appliances, the kitchen island is expansive and ready to host your next baseball team or work party. Sky high ceilings with an open living floorplan and a flex space, 4 car garage, pickleball/basketball court, sparkling heated pool- all on over an acre and with an interest rates that makes you feel like you should do it. This is truly a special home and ready for it's new owner.

37202 N Holiday Lane Carefree, AZ 85377

$2,150,000
4 Beds
4 Baths
3,500 SqFt
Status Active
MLS # 6805012
Property Type Single Family Residence
Price Type --
37202 Holiday Lane is a breathtaking desert retreat epitomizing both luxury and casual living on a picture perfect 1.67 acre lot min from town center in Carefree. You will immediately feel the unmatched privacy of this well-maintained home as you pull down the long paved driveway to the courtyard entry. As you step thru the front door the big mountain view will draw you in. A wall of glass in the great room draws the outside in as you gaze at your private pool , the meticulous desert landscape and panoramic mountains views at your doorstep. Open great room concept opening to the kitchen with Viga Wood Beams and Corbels. This home features 3 Bedrooms and 2.5 Baths in the Main House with a detached Guest House with an additional bedroom and bath. Many recent updates to the property including renovations in the kitchen with granite countertops, Induction cooktop, stainless appliances in 2024, pantry, island, and breakfast bar that opens to the great room for ease of entertainment. The dining room is part of the great room and just off the kitchen and can double for both casual and formal dining. High ceilings, fireplace, wall of windows in the Great Room with majestic sunset views and easy access to the rear yard and pool area. The Primary Suite with its remodeled bathroom is a perfect sanctuary for rest and relaxation. Soaking tub and large fully tiled walk-in shower, dual vanities, and generous walk-in closet. There are two additional bedrooms that jack and jill an updated bathroom. One of the bedrooms has direct access to backyard. Large laundry room with plenty of cabinets, counter space and deep sink. Well-appointed Half bath off the main hallway completes the main home. The Guest House with Authentic Mexican Tile floors is so charming your guests may not want to leave this intimate sanctuary with direct access to the back yard amenities. Refrigerator and microwave complete. If you love the outdoors, you will love the outdoor space with unparalleled views, lots of hardscape sitting areas, large kiva fireplace for those cool winter nights, deep wrap around patios, plenty of room to be in full sun or shade. Built in Gas BBQ station with countertop. The heated pool fits into this casual lifestyle perfectly with its rolled beam edge, boulders, and natural looking waterfall. For you citrus lovers there are orange, grapefruit, lemon and lime trees all producing. If you have pet's the entire backyard is fenced with iron view fencing to keep pests out but allow the beauty of the natural desert in. The oversized side entry three car garage is more than ample offering additional storage. This property could easily be a winter retreat lock and leave with its Control 4 Home Automation System or a full-time residence to enjoy all year. Literally a stone's throw from downtown Carefree this property represents a rare opportunity to own a slice of paradise in the coveted town of Carefree, Arizona.

11696 E Charter Oak Drive Scottsdale, AZ 85259

$2,150,000
3 Beds
3.5 Baths
3,696 SqFt
Status Active Under Contract
MLS # 6792012
Property Type Single Family Residence
Price Type --
The majestic McDowell Mountain Views are breathtaking upon entering this exquisitely remodeled home. You will treasure beginning your day in the completely updated gourmet kitchen which seamlessly combines vintage & modern elements to make it timeless. The Sellers painstakingly redesigned the family room, moving walls so to create an open floor plan allowing for a free flow into the dining & living room perfect for everyday living & entertaining. The addition of hardwood floors enrich the home's appeal & warmth. The wine connoisseur will relish the new wine closet hidden behind stunning 11'' doors. The Master Retreat is spacious with outstanding views. All of the bedrooms are ensuites with walk-in closets. Outdoor entertaining is a must in the private backyard with remodeled BBQ & landscaping for family enjoyment. In prestigious Ancala Country Club with true sense of community. Close to desirable Scottsdale & BASIS Schools, hiking & biking trails, fine dining & shopping, the Mayo Clinic and easy access to freeways. Ancala HOA is very active making it fun & easy to get to know your neighbors. Membership to Ancala Country Club is OPTIONAL with a variety of memberships to suite your lifestyle. 2023 UPDATES LIST IN DOCUMENTS

28492 N 95th Place Scottsdale, AZ 85262

$2,150,000
5 Beds
4 Baths
4,262 SqFt
Status Active Under Contract
MLS # 6815764
Property Type Single Family Residence
Price Type --
Exquisite SINGLE LEVEL custom home with MOUNTAIN AND GOLF COURSE VIEWS high above the 6th hole of Troon North's renowned Monument Golf Course! Nestled in a quiet cul-de-sac in the gated community of The Monument, this residence offers unique modern architectural features including a copper walled fireplace, arched wood ceiling, soaring windows & stacked stone. The spacious split floor plan w/5 bedrooms, 4 baths & a versatile office/lounge ensures ample privacy and comfort for family & guests. Entertain effortlessly in the chef's kitchen or relax by the pool overlooking the verdant golf course and mountains. Experience nearby world-class hiking, biking, golf, shopping and restaurants. This is luxury resort desert living, and the home can be sold fully furnished-just bring your toothbrush!

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