Be thankful you don't have to pay your parent's interest rates. Looking back at 1980 for example, where interest rates were almost 20%. I bought my first home in 1980 and felt lucky to get it on a Land Sales Contract, this is where the seller carries the loan amount, at an attractive 10%. Today, we'd think that was nuts.
The average interest rate over the course of 2017 was 4%. 2018 year to date has gone from 3.95-4.4%, which is still attractive. Keep in mind these are 30 yr fixed, with 20% down payment loans.
Bottom line, the housing market is still healthy and will continue to be. If you think waiting will save you money, think again. The average cost of a home will rise approximately by 6.8% this year. Maybe you should start now! I'd love to help you find that dream home!