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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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

16472 W Shangri La Road Surprise, AZ 85388

$565,000

3 Beds

2 Baths

2,348 SqFt

Status Active Under Contract

MLS # 6765097

Property Type Single Family Residence

Price Type --

This stunning 3-bedroom, 2-bathroom home is perfectly situated near shopping and entertainment centers, making it an ideal primary residence or investment property. With a den and great room, this home offers a spacious floor plan for your comfort. Currently operating as an Airbnb, the furniture is available by separate bill of sale. The split primary bedroom features a full ensuite bathroom, while the interior is filled with natural light from large Dual Pane Low-E windows. The kitchen boasts a walk-in pantry, granite countertops, a breakfast bar, and plenty of cabinet space. Step through the sliding glass door to a covered patio that overlooks a beautifully landscaped backyard with a heated pool and an above-ground heated spa - perfect for year-round relaxation!

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927 W Horseshoe Avenue Gilbert, AZ 85233

$565,000

4 Beds

3 Baths

2,104 SqFt

Status Active

MLS # 6781236

Property Type Single Family Residence

Price Type --

Nice Tri-Level home in desirable location. New flooring, fresh paint. Large kitchen with plenty of storage and beautiful bay windows. Cozy fireplace in family room. Large back yard that features a refreshing pool.

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6202 E Mckellips Road Unit 42 Mesa, AZ 85215

$565,000

2 Beds

2 Baths

1,587 SqFt

Status Active

MLS # 6762857

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the gorgeous, gated community of Tuscany Villas! This beautiful detached home comes **FURNISHED** and offers a prime location right on the **golf course,** perfect for enjoying peaceful mornings or sunset views. Whether you're looking for a full-time residence, a personal vacation getaway, or a lock-and-leave option, this property delivers versatility and luxury. Inside, you'll find an open kitchen, granite countertops and high-quality furnishings throughout. Recent updates include a new HVAC system and water heater. Please see documents tab regarding items that do not convey as well as HOA information.

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14196 W Gray Fox Trail Surprise, AZ 85387

Open House

$565,000

3 Beds

2.5 Baths

2,444 SqFt

Status Active

MLS # 6780943

Property Type Single Family Residence

Price Type --

Welcome to this beautifully maintained home in the sought-after community Rancho Mercado! Situated on a premium corner lot. The spacious interior features a large living room w/ separate dining area, perfect for entertaining. The chef's kitchen boasts stylish gray cabinetry, granite countertops, modern backsplash, gas cooktop, & walk-in pantry. A convenient laundry room w/ cabinetry & an added sink enhances functionality. Step outside to a private, landscaped yard complete with pavers, lush plants, & artificial turf. The built-in grill and stone fireplace provide an ideal space for outdoor gatherings. Additional highlights include a 3-car garage for ample storage & parking, plus the benefit of living in a close-knit community that offers parks, walking paths, basketball/volleyball courts.

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17514 N Horseshoe Drive Surprise, AZ 85374

Open House

$565,000

2 Beds

2 Baths

2,298 SqFt

Status Active

MLS # 6747590

Property Type Single Family Residence

Price Type --

ONE OF THE MOST LUXURIOUS HOMES IN THE PRESTIGIOUS 'PINNACLE' AREA OF THE GRAND * SOLAR LEASE HAS BEEN PREPAID TILL 2032 SO NO MONTHLY EXPENSE. (SAVE 1,000S ) YOU WILL NOT WANT TO MISS THIS ONE !!! EXCEPTIONAL UPGRADES GALORE*FAUX STONE FRONT*STUNNING 18 INCH PORCELAIN TILE*MAGNIFICENT GRANITE COUNTER TOPS & BACKSPLASH * EXQUISITE CUSTOM DESIGNED CHERRY WOOD KITCH CABS, LIBRARY, DEN, MEDIA CENTER * SURROND SOUND* SMOOTH TOP RANGE * 2 OVENS-CONVEN&CONVEC * * GORGEOUS PVT BCKYD W/HUGE PATIO-W/BI BBQ,& SPECTACULAR WTRFALL*3 CAR GAR WITH SERVICE DOOR AND UTILITY SINK*LOW E WINDOWS* ALL APPLIANCES INCLUDED. BEDROOMS HAVE NEW CARPET. PERFECT HOME FOR ENTERTAINING. ACROSS FROM GOLF COURSE AND WATER VIEW. The Grand is a 45+ master planned golf course community Sun City Grand, an active adult community in Surprise, Arizona, offers a variety of amenities including: Four 18-hole golf courses Two fitness centers Two resort-style pools Two outdoor lap pools One indoor pool Tennis courts Pickleball courts Bocce ball courts

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7346 S Debra Drive Gilbert, AZ 85298

Open House

$565,000

4 Beds

2 Baths

1,759 SqFt

Status Active

MLS # 6780815

Property Type Single Family Residence

Price Type --

Welcome to your new home in the beautiful Adora Trails community in Gilbert, AZ! This charming single-level residence sits on a spacious 10,000+ sq ft lot, offering plenty of room for outdoor activities and relaxation. Inside, you'll find 4 cozy bedrooms and 2 modern bathrooms. The kitchen features quartz countertops, stainless steel appliances, and sleek cabinets, making meal prep a breeze. The warm Pergo flooring, 4.5 inch baseboards and vaulted ceilings create a welcoming atmosphere throughout the home, and the split floor plan ensures privacy for the master suite. Living in Adora Trails means you'll enjoy a wonderful community atmosphere with access to walking trails, a gym, and a clubhouse. Spend your weekends lounging by the heated pool or exploring the nearby San Tan Mountains. This home is perfect for those looking for comfort and convenience in a friendly neighborhood. Don't miss out on this great opportunity!

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3353 N Snead Drive Goodyear, AZ 85395

Open House

$565,000

2 Beds

2 Baths

1,914 SqFt

Status Active

MLS # 6773415

Property Type Single Family Residence

Price Type --

This immaculate home features a coveted spacious Golf Course lot, with a sonoran desert style landscape, Situated in a micro-neighborhood in Eagles Nest that shows pride of ownership. Newly remodeled kitchen, laundry room, bathrooms, New Windows, and roll-out shelves, Beautiful natural light flows inside throughout the home. Classic white cabinetry and quartz counters create a crisp modern style. The facade exterior features Stone trim and stamped concrete driveway. Enjoy a restful ambiance for backyard entertaining complete with built-in BBQ, covered and extended patio spaces and open views of Golf Course and Mountains. Don't miss seeing this exquisite home with all its creature comforts. Select furniture is available via separate Bill of Sale. Ring Doorbell does not con

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2235 W Aston Drive San Tan Valley, AZ 85144

Open House

$565,000

4 Beds

2.5 Baths

2,553 SqFt

Status Active

MLS # 6711865

Property Type Single Family Residence

Price Type --

Seller may consider buyer concessions if made in an offer. Welcome to this beautiful property with a natural color palette that creates a serene atmosphere throughout the home. The kitchen features a center island for extra counter space, while the primary bedroom boasts a walk-in closet for ample storage. The primary bathroom offers a separate tub and shower, double sinks, and good under sink storage. Step outside to the fenced backyard, complete with a private in-ground pool and covered sitting area. Fresh interior paint and partial flooring replacement in some areas make this home move-in ready. Don't miss out on this fantastic opportunity!

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7682 W Saddlehorn Road Peoria, AZ 85383

New

$564,990

3 Beds

2 Baths

1,779 SqFt

Status Active

MLS # 6787471

Property Type Single Family Residence

Price Type --

''Welcome to the beautiful Marigold plan, offering 1,779 square feet of thoughtfully designed living space. This charming home features 3 bedrooms, 2 baths, and a versatile den—perfect for a home office, library, or personal retreat. Ideal for modern living, the open-concept layout creates a seamless flow between the spacious great room, kitchen, and dining area. The heart of the home is the stylish kitchen, featuring sleek gray cabinetry, complemented by contemporary black hardware. A large white quartz island serves as both a functional workspace and an inviting gathering spot for gatherings and friends. The kitchen flows effortlessly into the great room, where a striking center sliding door opens to the outdoor space, blending indoor and outdoor living for a truly spacious feel. The elegant Spanish elevation enhances the curb appeal of this home, with its distinctive architectural features and timeless design. Inside, you'll find stunning Edgewood steel plank tile flooring throughout, offering both durability and beauty in every room. The spacious primary suite includes dual vanities and a walk-in shower. The convenient half-bath serves guests and adds to the functionality of the home. With a 2-car garage offering additional storage space, this home provides the perfect balance of style, comfort, and practicality. Whether you're working from home in the study, relaxing in the great room, or enjoying the outdoors through the sliding doors, the Marigold plan offers a warm, inviting atmosphere for all to enjoy.

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14946 W Smoketree Drive Surprise, AZ 85387

New

$564,990

4 Beds

2.5 Baths

2,468 SqFt

Status Active

MLS # 6786413

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender! Homeowners will enjoy a spacious open floorplan where the Great Room, kitchen and dining room share a footprint and offer direct access to a covered patio through sliding glass doors. A versatile den is ideal for families who need a home office. Three secondary bedrooms are situated off the foyer, while the luxurious owner's suite is found at the back of the home. Photos are of a model home, not the actual home. A public report is available on the Arizona Department of Real Estate website.

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16687 W Saguaro Park Lane Surprise, AZ 85387

$564,990

4 Beds

3.5 Baths

2,664 SqFt

Status Active

MLS # 6742761

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. This Parklane floorplan offers 4 bedrooms, 3.5 baths, a garage extension, a no-step shower, and 8' interior doors among its standout features. The home also includes built-in appliances, quartz kitchen counters, a gas stub in the kitchen for BBQs, and a laundry area equipped for a gas dryer.

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20239 W Catalina Drive Buckeye, AZ 85396

$564,990

4 Beds

2.5 Baths

2,561 SqFt

Status Active

MLS # 6655095

Property Type Single Family Residence

Price Type --

QUICK MOVE-IN HOME! MOVE INTO YOUR NEW HOME BEFORE THE HOLIDAYS! SPECIAL FINANCING WITH BELOW MARKET INTEREST RATES AVAILABLE! MOVE-IN PACKAGES AVAILABLE! PLEASE INQUIRE ABOUT THESE SPECIALS ON THIS QUICK MOVE-IN HOME AND OTHERS. ACT SOON BEFORE IT IS TOO LATE! MOVE-IN BEFORE THE HOLIDAYS! It's the beautiful Cinnabar with 4 bedrooms, 2.5 baths, 3 car tandem garage. Brick pavers at drive, walk and entry. Large multi slide door off the great room that leads out to the covered patio. Stainless steel gas appliance package with a 30'' cooktop, wall oven and glass canopy hood. Barnett ''Linen-off white'' cabinets with 42'' kitchen uppers, pull out trash drawer with two bins. DT Quartz countertops in evening gray in kitchen and at the enhanced kitchen island. Upgrade flooring includes EMS Beaumont 7x24 Bosso tile in all areas of the home except bedrooms & closets. Tile surrounds at tub and shower in owner's bath. Dual sinks at bath 2, gas stub for future BBQ, Pre-plumb for soft water and so much more. Please verify information with onsite agent. Thank you!

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