Group hopes to entice Millennials to buy homes

PHOENIX (KSAZ) - Is moving to the suburbs and buying a home a thing of the past? For some in the Millennial generation, that is true.

Some Millennials want to live in urban areas, renting an apartment or condo in the Downtown area. That mentality could have a domino effect on the housing market in the future.

According to Census data, Phoenix's Millennial population went up by over 26% between 2010 and 2015, but not all are looking to buy.

On Wednesday night, a group showed Millennials the upsides of buying a home, in a hope to entice them.

Not all Millennials are excited at the prospect of renting. One of them, Armida Lopez, said she is tired of renting.

"I have been renting since I moved out of my parent's house when I was 17 years old," said Lopez. She decided to buy a home, after eight years of moving around the Valley and a variety of roommates. It was her last roommate in a condo that proved to be the turning point for Lopez.

"If she can do it, if she has her own space, then I can do it," said Lopez.

Lopez didn't go it alone on her journey to become a homeowner. She received help from Trellis, a housing non-profit that is aiming to help Millennials achieve the home ownership goal.

"Over half are very interested and thinking already about being a homeowner, but 88% of them don't know what the steps are, don't know where to look, and that's where we come in," said Sandra Saenz with Trellis. She said it is still possible to buy a home near Downtown Phoenix, and be close to the action. She said, however, it is best to not go it alone.