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Housing market

Young buyers in the Valley delay homeownership

With rising costs, many first-time buyers wait until age 37 to purchase a home

Since graduating from college in 2017, Jason Day, 28, has been renting apartments in Scottsdale and North Phoenix to save up for a home.

A manager for a financial firm in North Phoenix, Day says he’s been eyeing the housing market for some time, but it won’t be for another few years until he feels comfortable enough to purchase a home in the Valley.

“I don’t feel that I have the amount of money that I want to put down for a house yet,” Day said, who saves approximately 30% of his paycheck. “Interest rates aren’t great and I don’t know if it’s worth waiting, but I’m going to continue to wait until it makes more sense for me.”

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