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

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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2734 W Montgomery Drive Chandler, AZ 85224

$619,900

4 Beds

2 Baths

2,009 SqFt

Status Active Under Contract

MLS # 6756991

Property Type Single Family Residence

Price Type --

Come and see this freshly remodeled stunning home in Chandler. This 4 bed 2 bath 2 Car Garage home is move in ready!! Located just off the 101 and Warner you are just minutes away from the Chandler Mall with all the shopping and great restaurants. Home is located in the A rated Chandler School District. As you pull up to this stunning gem you will notice the freshly painted exterior and low maintenance front yard. Though the front door your welcomed by brand new luxury vinyl plank flooring in the main living areas and plush patterned carpet in the bedrooms. The soaring ceilings continue around the corner off the front room and into your brand new stunning kitchen. This fully remodeled kitchen boasts new white shaker cabinets, white quartz countertops, brand new stainless steel appliances and upgraded lighting. Just off the kitchen is the massive pantry / laundry room with custom shelves, mud room bench, white cabinets and butcher block top. Split floor plan has the Master suite off of the front room and it is GORGEOUS. Vaulted ceilings, dual vanity sink, large walk in closet and brand new custom tiled shower. Brand new windows and window coverings throughout the home. New water heater. New ceiling fans, door hardware, light and plumbing fixtures give this home a modern feel. Out back there is plenty of room to entertain with a freshly laid rolled sod yard with paver border, new sprinkler system and a large gazebo with fire pit that conveys. Don't miss out on this gem. Come and see it today!!

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19700 N 76th Street Unit 2028 Scottsdale, AZ 85255

$619,900

2 Beds

2 Baths

1,843 SqFt

Status Active

MLS # 6759796

Property Type Apartment

Price Type --

Immaculate open & bright South facing condo in the highly desirable gated Village at Grayhawk community. Upgraded features include travertine flooring, plantation shutters & more make this beautiful 2 bedroom+ den, 2 car garage residence stand out from the rest. Warm & inviting kitchen features breakfast bar, granite countertops, maple cabinetry, black stainless LG appliances, gas range & recessed lighting opens to dining/great room. Relax in large great room w/gas fireplace, built-in media & display niches. Spacious master retreat w/room for desk/workout equipment, dual sinks, separate shower & garden tub. Enjoy 3 beautiful heated pools & spas and 2 workout facilities. Convenient access to Loop 101 freeway, hiking and walking trails, world class golf, shopping and dining.

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18117 W Tecoma Road Goodyear, AZ 85338

$619,900

2 Beds

2 Baths

1,838 SqFt

Status Active

MLS # 6781120

Property Type Single Family Residence

Price Type --

Energy-efficient SOLAR property in the master-planned community of Estrella! Sweet curb appeal, desert landscaping & Inside, a rotunda foyer leads you toward the semi-open den & great room, providing endless entertainment. Pre-wired surround sound, durable tile flooring, custom paint, & gorgeous light fixtures. The kitchen showcases a center island w/breakfast bar, a pantry, staggered cabinets, mosaic backsplash, SS appliances, & granite counters. Split main retreat features backyard access & an ensuite boasting a separate tub/shower, dual sink, & walk-in closet w/stacked laundry area. Both bedrooms have soft carpets! Entertainer's backyard offers built-in BBQ, fireplace, covered patio, putting green, pool & spa combo, & view fence. Plus, solar panels! This home is the one! MTN Views! - DEN / LAKERS billiards Room Can be easily transitioned to 3rd bdrm.

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18607 W Oregon Avenue Litchfield Park, AZ 85340

$619,900

4 Beds

2.5 Baths

2,691 SqFt

Status Active

MLS # 6762312

Property Type Single Family Residence

Price Type --

****SELLER OFFERING $15,000 SELLER CONCESSION, WITH ACCEPTED OFFER***** This impressive single-level home in Litchfield Park boasts 2,691 square feet of living space on an expansive 11,051 square foot lot. Featuring a split floor plan with four oversized bedrooms, each with large walk-in closets, and 2.5 bathrooms. The home is designed for both comfort and functionality with vaulted ceilings and custom window treatments. The massive primary suite includes a remodeled bathroom with a stand-alone tub and a spacious walk-in closet. The 3-car tandem garage has vaulted ceilings for extra storage, plus added electrical outlets perfect for welders and power tools. An oversized RV gate provides paved RV parking with a power connection, ideal for boats, RVs, and UTVs. The remodeled gourmet kitchen is equipped with granite countertops and a large walk-in pantry. The backyard offers an extended patio, mature landscaping and a large storage shed. With close access to the 303 and I-10 freeways, this meticulously maintained home combines convenience with exceptional features for everyday living. Check this one out today!

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14219 W Artemisa Avenue Surprise, AZ 85387

$619,500

4 Beds

2.5 Baths

3,462 SqFt

Status Active

MLS # 6643180

Property Type Single Family Residence

Price Type --

Seller may contribute $5,000 towards the buyer's closing cost. ***WHY-WAIT-TO BUILD*** This two-story home is a stunning property that offers a spacious and well-designed layout. With four bedrooms and 2 1/2 baths, this home provides ample space for a growing family or for those who enjoy having extra room. The Gormet eat-in Kitchen is a true design of a chef's delight, upgraded gas cooking range, beautiful quartz countertops, ample amount of 42-inch upgraded cabinetry and stainless-steel appliances. Plantation shutters throughout the first floor. Downstairs offers a large den/office or can be a playroom. The master bedroom is conveniently located downstairs, offering privacy and convenience. The master bathroom features upgraded cabinetry, separate garden tub, dual sinks, large walk-in shower, adding a touch of luxury to the space. The first floor of this stunning home features wood-like extensive flooring adding a touch of warmth and elegance to the space. Upstairs, you will find an enormous loft area that can be used as a playroom, another office, or entertainment area. Additional bedrooms upstairs plenty of space for family members or guests. This home is north-south, ensuring that you can enjoy the best of both worlds when it comes to natural light and temperature control. Additionally, this home has been barely lived in and resembles a spec home, meaning it is in pristine condition and ready for its new owners to move in and make it their own. You will also have the best of both worlds located remarkably close to all the shopping in north Peoria as well as Surprise, minutes away from the best of both growing areas and schools.

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2864 Timberline Road Pinetop, AZ 85935

$619,500

4 Beds

3 Baths

2,333 SqFt

Status Active

MLS # 6751546

Property Type Townhouse

Price Type --

The Pinetop Country Club area is renowned for its serene landscapes and charming properties, and it seems you've found a gem with this detached townhouse. With four bedrooms, three bathrooms, and a bonus room that can serve as a fifth bedroom or study, plus a loft, it offers ample space and versatility. The list of upgrades is impressive, including a premium lot, advanced A/C system with extra insulation, and a host of new installations like a water heater and washer dryer. The addition of a soft start on the A/C unit is a smart move to extend its lifespan. It's clear that meticulous care has been taken to maintain and enhance the property, from the practical servicing of all systems to the aesthetic addition of new trees and a railing on the back patio. ...READ MORE... The fact that it's sold fully furnished makes it an even more attractive turnkey solution for mountain living. The HOA's coverage of exterior maintenance, landscaping, and snow removal adds to the worry-free experience. This condo truly stands out as one of the nicest in the subdivision. If you're looking for a retreat that combines luxury with the tranquility of mountain life, this property seems to tick all the boxes.

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2445 W Rowel Road Phoenix, AZ 85085

$619,380

3 Beds

2.5 Baths

1,964 SqFt

Status Active

MLS # 6785167

Property Type Single Family Residence

Price Type --

Welcome to your NEW HOME at Aster in Union Park! This home offers 1,964 sq ft of living space with 3 bedrooms, 2.5 bathrooms, and a 2-car garage. The primary bedroom has dual walk-in closets and a private deck. The Design features are the Elevated A package of upgrades including 42'' flagstone cabinets, quartz countertop, custom backsplash, large island, GE Profile stainless steel appliances and gas range and 6x36 tile flooring. HOA includes Union Park Amenities, front yard landscaping. Union Park residents will enjoy the abundance of amenities that include, resort styled pool and lounge areas, a 5800 sq ft clubhouse, pickleball courts, basketball courts, 11 parks, playgrounds and walking paths. Easy access to 3 freeways within 10 minutes and 25 minutes to Airport.

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22794 E Stacey Road Queen Creek, AZ 85142

$619,040

4 Beds

3 Baths

2,770 SqFt

Status Active

MLS # 6739105

Property Type Single Family Residence

Price Type --

Incredible Fall Move In Ready Home at the highly desired community of Harvest in Queen Creek. This beautiful plan offers 2753 sq ft, 4 bedrooms, loft, 3 full baths, and study on a large North back home site. Enjoy entertaining in your gourmet kitchen, with stunning pecan cabinets to the 10 ft ceiling, quartz countertops and quartz backsplash. Unwind in your owners retreat with the upgraded super shower offering tile to the ceiling. 2x6 constrution and new home warranty; SEE YOU SOON

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12840 W Santa Ynez Drive Sun City West, AZ 85375

$619,000

2 Beds

2 Baths

2,362 SqFt

Status Active

MLS # 6742696

Property Type Single Family Residence

Price Type --

Discover the elegance and comfort in this stunning property, located within the gated confines of the Corte Bella Country Club. Offering a spacious 2+Den bedroom and 2 bathroom layout across 2362 sq ft, this Cambria Model home is ideally situated on a tranquil street, mere moments from the golf club, restaurant, social halls, fitness center, pickleball/tennis courts and heated pool. A charming 6' courtyard and stone facade invite you into a world of refined luxury, highlighted by a luxurious kitchen and a primary suite bathroom that have both undergone extensive updates. The split floor plan ensures privacy, featuring guest and den areas at one end of the home, conveniently adjacent to a second full bathroom. The primary bath boasts double sinks, quartz counters, a soaking tub, and a beautifully tiled walk-in shower with new fixtures and faucets. The heart of the home, a gourmet kitchen, opens to a large family room, upgraded with quartz counters, a designer backsplash, new hardware, and a high-end Viking range. Additional features include a large laundry room, an extended 28' 2-car garage, and an expansive covered patio overlooking an open yard ready for your personal touch. This home not only offers luxury but also a tranquil lifestyle in a sought-after community.

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2525 N 15th Street Phoenix, AZ 85006

$619,000

3 Beds

2 Baths

1,305 SqFt

Status Active

MLS # 6783862

Property Type Single Family Residence

Price Type --

Located in Historic Coronado District, this residence offers a quiet charm with contemporary upgrades that will leave you wowed. Upon entering, you'll be engulfed in natural light, beautiful wooden beams, new vinyl plank flooring and charming updates. The kitchen offers stainless steel appliances with modern fixtures and upgraded hardware. The extensive primary bedroom includes ample space to sit in front of the cozy fireplace and French doors overlooking the oversized yard. Enjoy the front and back yards with updated sprinkler systems to keep the lush grass, trees, and bougainvillea growing year round. The walkability to coffee shops, restaurants, salons and much more is part of the downtown culture you will love! Close to major freeways, Banner Medical Hospital, and Sky harbor.

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12221 E Chiricahua Place Gold Canyon, AZ 85118

$619,000

4 Beds

2.5 Baths

1,943 SqFt

Status Active

MLS # 6776779

Property Type Single Family Residence

Price Type --

Beautiful former model home (Shiloh floor plan) featuring 4 bedrooms, 8-foot interior doors, a gourmet kitchen with granite countertops, staggered cabinetry, and stainless steel appliances. This spacious home includes a 3-car front-entry garage, paver driveway, and fully landscaped yard. Enhanced with rain gutters, a water softener, upgraded PVC drip system, push-up window blinds, and an extra paver patio off the garage door—perfect for a smoker or BBQ area. Ideally located near the Superstition Mountains and Tonto National Forest, offering breathtaking views, and easy access to mountain biking, hiking, and walking trails. Enjoy serene desert beauty and a peaceful lifestyle just a short drive from Phoenix metro. Turnkey and barely lived in—just bring your toothbrush!

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4127 E Edgemont Avenue Phoenix, AZ 85008

$619,000

3 Beds

2 Baths

1,449 SqFt

Status Active

MLS # 6781398

Property Type Single Family Residence

Price Type --

Amazing and wonderful opportunity to acquire this charming lovely brick home located just outside the highly desired Arcadia Osborn neighborhood. This home features timeless classic brick construction and has been lovingly maintained for over 20 years. Just under 10,000sft irrigated lot with an extended covered patio for entertaining, extensive mature trees (numerous fruit trees), and lots of space to add your own special touches or expansions! Fabulous little storage/''man/woman cave'' already equipped with electric and water set with veranda and set up for future flower/veggie garden area plus another huge storage area with electric off laundry entrance. Awesome location with great shopping, restaurants and cafes close by! Airport and freeways are close too!

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