Property Valuation
What is 'progression' and 'regression' as used in real estate valuation?
AThe rate at which property values increase or decrease over time
BProgression means a smaller home is worth more due to surrounding larger homes; regression means a larger home is worth less due to smaller surrounding homes✓ Correct
CThe order in which appraisal approaches are applied
DTwo methods of calculating depreciation
Explanation
Progression means a smaller or lower-quality property benefits in value from being surrounded by larger/better properties. Regression means a higher-quality property suffers in value from being surrounded by lower-quality properties.
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