Property Valuation
What is 'scarcity' as a principle of real estate value in Delaware?
AThe limited supply of qualified buyers in a market
BThe limited supply of a type of property relative to demand, which tends to support or increase its value✓ Correct
CProperties that are difficult to find or access
DUnique properties with no comparable sales
Explanation
Scarcity is one of the four elements of value (DUST: Demand, Utility, Scarcity, Transferability). When supply of a desired type of property is limited relative to demand, scarcity supports higher prices.
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