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

17041 W Artesia Drive Surprise, AZ 85387

$529,900

2 Beds

2 Baths

1,854 SqFt

Status Active

MLS # 6684543

Property Type Single Family Residence

Price Type --

Popular Desert Rose floorpan with its kitchen open to the living space and generous kitchen counters & island provides the open floorpan you desire for entertaining. A charming nook for your morning breakfast and a separate dining area for diner overlooking the expansive back yard. Master bedroom has a walk-in shower and large walk in closet. The hallway is wide and there are two closets for linens and other storage. This home has been used sparingly and gently as a winter retreat. The furnishings are included at no additional charge (*see some exclusions) so you may make this your own retreat.

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2033 Jones Pass -- Overgaard, AZ 85933

$529,900

3 Beds

2 Baths

2,011 SqFt

Status Active

MLS # 6689874

Property Type Single Family Residence

Price Type --

Seclusion in the Towing Tall Pines! Located in the desirable section 31 area of Heber-Overgaard. This beautiful mountain home offers 3BDR, 2BA, granite countertops, hickory cabinetry, large pantry w/additional refrigerator & freezer, wood floors, separate dining room, central heat & Pellet stove, 3rd BDR can be used as an office or TV room. For the music lover, enjoy surround sound inside & out. The outside offers no maintenance siding, large covered front & rear decks, 2 car attached garage, 2 car detached garage or workshop, detached 18' carport ideal for RV storage, fully fenced back yard and so much more. New roof installed 2023. No HOA and plenty of space to bring the toys for everyone to enjoy! Call Today!!

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2047 E Rice Drive Tempe, AZ 85283

$529,900

3 Beds

2 Baths

1,652 SqFt

Status Active

MLS # 6697041

Property Type Single Family Residence

Price Type --

Welcome to your dream single-story home with a complete top-to-bottom remodel! This stunning residence boasts a fresh and modern aesthetic that will take your breath away. The kitchen and bathrooms feature elegant quartz countertops, a beautiful and durable addition. Stainless steel appliances make meal preparation and entertaining a delight. This single-story gem offers a turnkey opportunity to live in style and comfort. With a meticulous remodel and attention to detail, it's a rare find. Don't miss out on the chance to call this house your home! New Flooring & Baseboards, new sliding doos : Stunning new flooring throughout the home.

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43 W Castle Rock Road San Tan Valley, AZ 85143

$529,900

4 Beds

3 Baths

2,826 SqFt

Status Active

MLS # 6695848

Property Type Single Family Residence

Price Type --

Welcome to your dream home at Johnson Ranch! This stunning property boasts a versatile layout with a downstairs bedroom and bathroom, ideal for guests or in-law quarters, while the expansive loft upstairs offers additional space for relaxation and entertainment. The soaring vaulted ceilings enhance the sense of space and airiness throughout. Step into your own private oasis in the backyard, complete with a sparkling diving pool, basketball court for friendly competitions, and a cozy firepit area perfect for gathering under the stars. The chef's kitchen is a culinary delight, featuring granite countertops, an island, top-of-the-line Whirlpool appliances including a double oven and gas cooktop, ample pantry space, and more. CLICK MORE Retreat to the luxurious master suite with its charming barn door entry to that ensuite with dual sinks, separate shower and tub, and a generously sized closet. Outside, enjoy the low-maintenance Arizona backyard with its self-cleaning pool, extended covered patio, and convenient storage shed. Recent updates include the interior paint(2021), and the exterior (2018), ensuring a fresh and modern aesthetic. Experience the best of Johnson Ranch living with access to community amenities such as pools, sports courts, playgrounds, parks, and scenic walking trails. Conveniently located just minutes away from dining and entertainment options in the vibrant Central Queen Creek area. Don't miss the opportunity to make this your forever home!

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26842 N 173rd Drive Surprise, AZ 85387

New

$529,900

4 Beds

2 Baths

2,180 SqFt

Status Active

MLS # 6707542

Property Type Single Family Residence

Price Type --

This former model home in Cortana at Desert Oasis offers 4 bedrooms & 2 baths in 2180 SqFt with an open great room layout and split bedrooms. The kitchen features white cabinetry with crown molding, granite counters, stainless appliances including a gas range, pantry, and island with stainless undermount sink and breakfast bar. Sliding doors lead out from the great room to the covered patio, extended paver patio and a low-maintenance backyard with single story neighbors and artificial turf for kids and pets to play on. The spacious primary bedroom has an en-suite bath with dual sink vanity, oversized shower, and walk-in closet. Other features include a 2 car garage, community pool, and walking distance to one of many community parks and Desert Oasis Elementary. See today!

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418 N Sicily Place Chandler, AZ 85226

New

$529,900

4 Beds

2 Baths

1,920 SqFt

Status Active

MLS # 6707017

Property Type Single Family Residence

Price Type --

Original owners, in this lovely 4 bedroom, 2 bath home perfectly situated at the end of a cul-de-sac. Large drive way with RV gate. Enter thru the front door and you'll notice the high vaulted ceilings! Pass on by to the family room, kitchen area and be amazed. Open concept kitchen with white cabinets, gas range/oven, SS appliances, & a large island. Family room boost a gas fireplace and offers natural lighting with a skylight. Primary Suite offers a large living area, separate shower & tub, dual sinks, vanity & a walk in closet. The 2 1/2 car garage offers extra storage & a wall AC unit. Grass backyard, with a large covered patio & 2 storage sheds. This home is close to Chandler Mall and all it has to offer. Lots of restaurants and shopping within 5 minutes.

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10412 E Nacoma Drive Sun Lakes, AZ 85248

New

$529,900

2 Beds

2.5 Baths

2,119 SqFt

Status Active

MLS # 6707631

Property Type Single Family Residence

Price Type --

Nestled in the quaint GATED COMMUNITY of Ironwood this Paloma model has 2 bdrms-both are ENSUITES + a den/office + 2.5 BATHS + a GOLF CART GARAGE for the perfect amount of space w/lots of NATURAL LIGHT & PLANTATION SHUTTERS. The kitchen was updated w/QUARTZ countertops & has a COOKTOP w/wall ovens + a wet bar off the power room. Generous living & dining rooms + cozy family room & eat-in kitchen allows plenty of space for entertaining. Huge primary bdrm has 2 BIG CLOSETS & sep exit to patio & primary bath has been REMODELED w/ a spacious WALK-IN SHOWER. Tons of STORAGE & a laundry sink in the laundry rm. Cov'd patio in PRIVATE back yard w/ lemon, naval & AZ sweet citrus trees. Newer exterior paint (2022) brand new water heater (2024) EPOXY flooring in EXTENDED DEPTH garage. HVAC (2015)

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516 N Leoma Lane Chandler, AZ 85225

$529,900

3 Beds

2 Baths

1,982 SqFt

Status Active

MLS # 6695111

Property Type Single Family Residence

Price Type --

Experience the lavish life in Chandler with this 3 bed 2 bath palace fit for a king (or queen)! The freshly painted walls will make you feel like you're living in a magically bright cloud, while the quartz countertops and stainless steel appliances in the updated kitchen will turn you into a professional chef (in your dreams). And if that's not impressive enough, the cabinets have also been painted with love and care to give you all the storage space you'll ever need. With new flooring and carpet throughout, your feet won't know what hit them - except for pure luxury. Plus, say goodbye to high energy bills and hello to saving money and the planet with the owned solar panels. Don't miss out on living in a fancy-schmancy home with all the modern bells and whistles (and no, we're not talking about doorbells and fire alarms).

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5495 Desert Willow Loop Sierra Vista, AZ 85635

$529,900

4 Beds

3 Baths

2,593 SqFt

Status Active

MLS # 6632246

Property Type Single Family Residence

Price Type --

Step into luxury with this 4 bed, 3 bath split floorplan home that seamlessly combines style with comfort. In a quiet double cul-de-sac neighborhood, this home features an open floor plan with wood plank tile and plenty of natural light. Enjoy a beautiful kitchen with quartz countertops, stainless-steel appliances, and soft water throughout the home. The large master suite features a large walk-in double shower, walk-in closet, and a large sitting room. The guest suite also features a large private walk-in shower. This home boasts an oversized 3 car garage with epoxy floors for easy cleanup. A private backyard oasis welcomes you with upgraded pet-friendly turf, a travertine patio and a built-in natural gas fire pit creating a smokeless, cozy ambiance. One owner is a licensed AZ real esta te agent in Arizona.

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6233 W Mescal Street Glendale, AZ 85304

$529,900

5 Beds

3 Baths

2,444 SqFt

Status Active

MLS # 6628137

Property Type Single Family Residence

Price Type --

Discover the ideal blend of space and comfort in this inviting five-bedroom, three-bathroom home nestled in a desirable Glendale neighborhood close to shopping and restaurants. This well-maintained home has a beautiful kitchen with modern appliances, ample counter space, and a roomy island, ideal for both preparing meals and gathering with family and friends. A key feature of this property is its outdoor appeal. Covered patio with a sparkling swimming pool set amidst a landscaped backyard which creates a perfect atmosphere for leisure and entertainment. For those with multiple vehicles or in need of extra storage, the three-car garage provides practical space for cars, tools, or hobbies. With no HOA, enjoy the freedom to personalize your property without additional restrictions. Don't miss out on the opportunity to call this welcoming property home.

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3113 E Cottonwood Lane Phoenix, AZ 85048

$529,900

4 Beds

2.5 Baths

1,957 SqFt

Status Active

MLS # 6664484

Property Type Single Family Residence

Price Type --

**New upstairs flooring** Welcome Home!!! This gorgeous 4 bedroom 2.5 bath home at Lakeside in the heart of Ahwatukee is in a fantastic location. Close to restaurants, shopping, schools, parks, hiking or biking at South Mountain Park & Reserve, golfing at the Foothills Golf Club & easy access to the 202 Fwy. You'll love the layout of this 2 story home. Your kitchen offers granite counter tops, a breakfast bar, stainless steel appliances, a pantry & plenty of cabinetry for storage & organization. Your spacious upstairs master suite offers a plethora of natural light, a walk in closet, dual granite vanity & custom tiled walk in shower. This home also offers upgraded ceiling fans, plantation shutters, a wood burning fireplace & a 3 car garage to utilize. Your backyard oasis offers a covered patio, extended pavers, a grass lawn & a sparkling pool with a basketball hoop to enjoy. This gem in the desert is a Great Buy & a Must See!!!

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7777 E 2nd Street Scottsdale, AZ 85251

$529,900

2 Beds

2 Baths

1,303 SqFt

Status Active

MLS # 6665608

Property Type Apartment

Price Type --

Finally On Market!!! Beautiful resort style property within a gated community, in the heart of Scottsdale. This Location backs to miles of Indian Bend walking trails just outside your door. 2 bedroom, 2 bath, 1,303 sq. ft. One of the largest floor plans in the complex. Located on the third floor, with great views from every window, high vaulted ceilings, and a bright and spacious open floor plan. This home is being sold by the original owner and has only been used occasionally as a 2nd home - occupied fewer than 30 days a year. Conveniently located near golf courses, parks, restaurants, shopping, bus stops, & the vibrant downtown Old Town/Scottsdale Fashion Square. Relax by the secluded pool w/ hot tub & BBQ. Small & very desirable community, these units seldom become available! Hurry!!!

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