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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41908 W Arvada Lane Maricopa, AZ 85138

$600,000

5 Beds

4 Baths

3,292 SqFt

Status Active

MLS # 6764885

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-story home offering 5 bedrooms, 4 baths, and a versatile den/office, perfect for today's lifestyle. The interior showcases a great room with high ceilings, a soothing palette, wood-look flooring, and sliding doors that lead to the backyard. Enjoy cooking in the impeccable kitchen with abundant white cabinetry, granite counters, SS appliances, a large island, and a walk-in pantry. The main bedroom offers soft carpeting, an ensuite with dual sinks, and a walk-in closet. The in-law suite, complete with a private dinette and bathroom, provides added flexibility for guests or extended family. Energy efficiency is key with solar panels, helping reduce utility costs. This home blends comfort, functionality, and style—ideal for your next chapter!

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1909 E Libra Drive Tempe, AZ 85283

$600,000

3 Beds

2 Baths

1,564 SqFt

Status Active

MLS # 6772083

Property Type Single Family Residence

Price Type --

Beautiful 3BR/2BA Home with Pool, Garage, and 2024 Upgrades! This move-in-ready gem has it all! Featuring a sparkling remodeled pool and a new roof and AC installed in 2024, this home offers modern comfort and peace of mind. The completely renovated kitchen and baths boast fresh finishes, while new windows flood the space with natural light. Enjoy sleek, new flooring throughout and plenty of storage in the 2-car garage. Whether you're hosting poolside or relaxing indoors, this home is perfect for both entertaining and everyday living. Don't miss your chance—this one won't last long!

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3747 E Dover Street Mesa, AZ 85205

$600,000

4 Beds

2 Baths

2,344 SqFt

Status Active

MLS # 6775227

Property Type Single Family Residence

Price Type --

$25k PRICE IMPROVEMENT! Welcome home to this beautiful 4-bedroom property! Located in the desirable Crosspoint neighborhood, near parks & restaurants, this fabulous house, will welcome you with w/a 2-car garage, grassy front yard, & a relaxing front patio. Inside, you'll find soaring vaulted ceilings, wood flooring, & comfortable great room w/an inviting fireplace. The living room is ideal for entertaining w/backyard access & bay windows in the dining area. The kitchen has shaker cabinets, granite counters, tile backsplash, & a peninsula w/breakfast bar. Tray ceilings, & an ensuite w/dual sinks, a fully tiled shower, a soaking tub, & a large walk-in closet are some of the features you will love about the primary suite. The backyard features grass and an in-ground trampoline.

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7507 E Roosevelt Street Scottsdale, AZ 85257

$600,000

3 Beds

2 Baths

1,180 SqFt

Status Active

MLS # 6779019

Property Type Single Family Residence

Price Type --

WOW what a gorgeous Property!!! This 3 bed / 2 bath home sits on a Generous Lot and has been Completely Remodeled by LICENSED CONTRACTORS. House Boasts: POOL, New White Shaker Soft Close Cabinetry, Custom Backsplash, Quartz Counters with Waterfall, New Appliances, Walk in Pantry, New Tile and Laminate Flooring, Remodeled Bathrooms, All new Electrical and Plumbing Fixtures, New Doors / Baseboards and Trim, Custom Finishes, Fresh Paint Inside and Out, Dual Pane Windows, Newer HVAC and Roof, New Landscaping, Covered Patio, Custom Gates and MUCH MUCH MORE!!! All for under 600k. Wonderful location close to Shopping, Dining and Entertainment. Loops 101 and 202 nearby for quick commute anywhere in the VALLEY. Tremendous School District. Do not miss out on this AMAZING OPPORTUNITY.

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25353 N 134th Drive Peoria, AZ 85383

$600,000

3 Beds

2.5 Baths

2,251 SqFt

Status Active

MLS # 6780800

Property Type Single Family Residence

Price Type --

Stunning 3-Bedroom Home with Upgrades Galore! This newer 3-bedroom, 2.5-bathroom residence boasts an array of builder and owner upgrades, making it a perfect blend of style and functionality. The heart of the home features a large kitchen island, ideal for entertaining, which seamlessly flows into a spacious family room. Enjoy cooking and gathering with family and friends in this bright and inviting space. Retreat to the primary bedroom, thoughtfully separated from the guest rooms for added privacy. It offers a generous walk-in closet and private access to the backyard—perfect for morning coffee or evening relaxation. Need extra space? The additional office or den area provides flexibility for work play area. Step outside to your backyard oasis, complete with a pavered seating area and a new synthetic turf play area, perfect for kids or pets. For pet owners, there's a gated, turfed pet area that provides natural shade and a safe space for your furry friends to play.

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10080 E Mountainview Lake Drive Unit 260 Scottsdale, AZ 85258

$600,000

2 Beds

2 Baths

1,298 SqFt

Status Active Under Contract

MLS # 6695830

Property Type Apartment

Price Type --

Introducing an unparalleled opportunity to own a prime lakefront corner unit with breathtaking views of Lake Serena in the prestigious Scottsdale Ranch community. Rarely available, this sunlit sanctuary offers an idyllic retreat with unparalleled vistas. Indulge in leisurely moments on the north-facing balcony, where you can savor refreshments against the backdrop of stunning mountain views framing the serene lake. The recently renovated kitchen boasts brand-new features and high-quality appliances, ensuring both style and functionality. Whether you seek a primary residence, a luxurious vacation getaway, or a lucrative investment, this property is a true gem. Enjoy access to the exclusive amenities of Scottsdale Bay Club, including two pools, two spas, a fitness center, and a tranquil pond. Additionally, residents can partake in the vibrant social scene and amenities of Scottsdale Ranch, further enhancing the lifestyle experience. Stay tuned for professional photos and additional information coming soon! Don't miss your chance to make this extraordinary property yours!

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6670 W Pine Cone Trail Pine, AZ 85544

$600,000

3 Beds

2 Baths

1,845 SqFt

Status Active Under Contract

MLS # 6722636

Property Type Single Family Residence

Price Type --

Gorgeous, newly built (2021) home on a half acre lot, nestled in the cool pines. This spacious home boasts an open floor plan with a large great room, kitchen, two bedrooms and bath downstairs while the primary bedroom and bathroom is upstairs with a private patio. Kitchen has top of the line appliances, granite countertops, beautiful backsplash, upgraded cabinets and a farmers sink. Wood tile planks throughout the home, no carpet. Beautiful sliding doors off the kitchen and great rooms offer amazing views of the lush forest. The home was constructed with James Hardie fiber-induced concrete siding which is fire resistant and has Milgard exterior windows and sliding doors. You won't want to miss seeing the amazing home.

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3611 N Tuscany -- Mesa, AZ 85207

$600,000

3 Beds

2.5 Baths

2,150 SqFt

Status Active Under Contract

MLS # 6779631

Property Type Single Family Residence

Price Type --

Beautiful 3-bedroom (plus loft), 2.5-bath residence in Rolling Hills at Las Sendas and EVERYTHING LAS SENDAS HAS TO OFFER! Welcoming living room with soaring vaulted ceilings, half-moon clerestory windows, plantation shutters, and a harmonious blend of soft carpet and tile flooring. Gather in the family room, offering sliding doors that lead to the backyard for seamless indoor-outdoor living. The gourmet kitchen comes with granite counters, custom wood cabinetry with crown moulding, a stone tile backsplash, recessed lighting, SS appliances, a handy pantry, and a peninsula with a breakfast bar. The main bedroom includes plush carpeting, balcony access, an ensuite with double sinks, and a walk-in closet. **1 newer ac in 23' and other 21' ..tankless water heater in 19 and water softener 23'. Enjoy a breath of fresh air on the charming balcony showcasing stunning mountain views. The backyard showcases a covered patio, pristine artificial turf, and a play area for outdoor fun. Make it yours!

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1364 W Escarpa Street Mesa, AZ 85201

$600,000

3 Beds

3 Baths

2,025 SqFt

Status Active

MLS # 6770017

Property Type Single Family Residence

Price Type --

Discover this exceptional 3-bedroom, 3-bathroom home on a nearly 1/2 acre hilltop lot at 1364 West Escarpa Street, Mesa, AZ. Enjoy breathtaking valley views, stunning sunsets, and Camelback Mountain in the distance, all with no backyard neighbors. The split floor plan features two primary suites, a family/living room with vaulted ceilings, and a dining room. The kitchen boasts espresso cabinets, granite countertops, a tile backsplash, stainless steel appliances, a breakfast nook, and a bar. Cozy up by the wood-burning fireplace or step outside to the extended covered patio. The triple-tiered backyard offers artificial turf, a fire pit, and a mini motocross/BMX track. With no HOA and proximity to ASU, Old Towne Scottsdale, and major freeways, this home is perfect for those seeking convenience and adventure.

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5100 E Rancho Paloma Drive Unit 2085 Cave Creek, AZ 85331

$600,000

2 Beds

2 Baths

2,074 SqFt

Status Active

MLS # 6739610

Property Type Townhouse

Price Type --

Luxurious almost new townhome in a gated community where you can kick back and relax in a stylish space. Furniture available on a separate bill of sale. All cabinets have handles installed. Ceiling fans in all rooms. Kitchen has reverse osmosis drinking water. Laundry has an added shelf. Walk in shower in primary. Fiber gigabit internet so working from home and online streaming is easy and enjoyable. Tesla universal EV charger wall mounted in garage. Great mountain views. Large balcony. Home is pet and smoke free. Community pool, spa, gym, barbecue and lots more. This community is about 5 minutes from Sprouts, Walmart and Frys stores. Cave Creek Recreational are is 10 minutes away and perfect for hiking, biking and horseback riding. Home has friendly neighbors.

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4005 N Park Street Buckeye, AZ 85396

$600,000

3 Beds

2 Baths

1,934 SqFt

Status Active

MLS # 6762436

Property Type Single Family Residence

Price Type --

Stunning ranch-style home in Verrado Main Street District! LOCATED across from Founders Park, this home offers White Tank Mountain VIEWS, FULLY PAID-OFF SOLAR, and a pebble sheen SWIMMING POOL. Great curb appeal with stone accents, mature landscaping, and a cozy front porch. The open layout features tile floors, plantation shutters, and a spacious den. The kitchen boasts white shaker cabinets, granite countertops, and a breakfast bar. The garage is heated/air-conditioned with a Mitsubishi mini-split, fully insulated, and has lifetime flooring. Upgraded windows, a new 50-gallon hot water tank, and a backyard perfect for entertaining with seating areas and a fire pit complete this rare find!

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28643 N 46th Way Cave Creek, AZ 85331

$600,000

3 Beds

2 Baths

1,832 SqFt

Status Active

MLS # 6781933

Property Type Single Family Residence

Price Type --

***FREE 1% RATE BUYDOWN FOR THE FIRST 12MONTHS** A message from our sellers'' For the past decade, this home has been more than just a structure—it's been a place where cherished memories were created, inside and out. Situated in a friendly neighborhood where connections go beyond the typical wave across the street, you'll find a true sense of community here'' Discover the charm of this single-story home in the highly sought-after Cave Creek! Inside, you'll find custom wood-paneled walls that add warmth and character, paired with an updated kitchen featuring sleek quartz counters and a custom-built breakfast bench perfect for morning coffee. Fresh carpet in the bedrooms makes every space feel inviting and comfortable. Step outside to your private oasis, complete with a sparkling fenced pool, low-maintenance artificial grass, and mature landscaping that creates the perfect backdrop for relaxation or entertaining. Nestled in a coveted location with tons of ''must-see'' features, this home combines style, comfort, and the Cave Creek lifestyle you've been dreaming of.

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