What type of analysis is used to identify trends in property values over time?

Time series analysis is utilized to identify trends in property values over the course of time. This method involves collecting data at successive points in time and analyzing it to observe patterns, seasonal variations, or long-term trends. By examining historical property value data, time series analysis enables appraisers to understand how values have changed, allowing them to make informed predictions about future value trends.

This approach is particularly effective in real estate markets where understanding the temporal aspects of value changes is crucial for decision-making. It helps in tracking how external factors like economic conditions, changes in interest rates, and shifts in demand affect property values over time, thereby providing a comprehensive view that aids in appraisals and market assessments.