conformity

Definition

The appraisal principle that holds that the greater the similarity among properties in an area, the better they will hold their value. In general, conformity assumes that a neighborhood that is reasonably similar in social and economic activity will result in properties that reach their maximum value.

Use conformity in a sentence

Mentioned in these terms

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
accordance enrolled actuary