It is getting there, but it will be a while. Of course none of these things will ever be completely eradicated, just like there will always be murderers and assholes of all kind, that’s just humanity. But homophobia may be viewed on the same level as racism in times to come, where it’s so taboo that people who are homophobia will be ashamed to admit it and know everyone will be against them.
As others have said, as long as the holy texts for major religions contain lines like Leviticus 20:13, it will be difficult to get rid of homophobia for good. And you can argue all you want about how it doesn’t apply anymore, but it’s there and very easy to access and use to one’s advantage. Many people not only are homophobic because they were raised that way, but believe that their homophobia is justifiable on a greater scale.
And of course there are still those that think racism will end when black people stop acting “ghetto” and when gay people stop acting like “flamers”.