The Principle of Change indicates that a property's value is:

The principle of change highlights the concept that a property's value is not static but fluctuates over time and is influenced by various factors, making it valid only for the current time period. This reflects the reality of real estate, where market dynamics—such as economic trends, neighborhood developments, and shifts in buyer preferences—can lead to changes in property values.

By recognizing that a property's value is contingent upon current market conditions and not fixed or guaranteed for the future, stakeholders such as buyers, sellers, and investors can make more informed decisions. This principle underscores the necessity of regular assessments in the real estate market to account for these ever-evolving factors influencing real estate property values.