Growth a period during which the neighborhood or district gains favor and acceptance in the local market. Property values increase. Stability a period of equilibrium without marked gains or losses. Property values remain the same. Decline a period of diminishing demand.
Property values decline.
Revitalization a period of renewal, modernization and increasing demand. Property values increase. The neighborhood life cycle is related to the natural aging process of buildings and other improvements. The cycle is also affected by supply and demand in the local real estate market and other forces outside the neighborhood. Gentrification is a process which can trigger a revitalization cycle.