Property values refer to the monetary worth of real estate, which can include residential homes, commercial buildings, and land. These values are influenced by various factors such as location, size, condition, and market demand. For example, a house in a desirable neighborhood may have a higher property value than a similar house in a less sought-after area. Changes in property values can occur due to economic conditions, interest rates, and local developments. When the economy is strong, property values often rise as more people seek to buy homes. Conversely, during economic downturns, property values may decrease, affecting homeowners and investors alike.