Property Valuation
The principle of change in Utah real estate recognizes that:
AProperty values are permanently fixed at their peak
BReal estate markets are always in transition—economic, social, and physical forces constantly change values✓ Correct
COnly new construction affects neighborhood values
DMarket values only change when there is a recession
Explanation
The principle of change acknowledges that all real estate markets are dynamic. Economic cycles, demographic shifts, neighborhood evolution, and broader social forces continuously affect property values.
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