Those people who have recently bought into the Valley’s housing market may have a wait before they start to build up equity in their purchase as the region’s uptick has mostly flatlined, Valley real estate experts say.
Despite the lack of growing equity, homeownership should be looked at as a long-term investment, not treated like a short-term piggy bank, said Tina Tamboer, senior housing analyst at the Cromford Report in Phoenix.
During the past three to four years, Valley home values increased significantly where homeowners saw their values rise dramatically amid the pandemic and a housing shortage, Tamboer said.
