Property valuation models seek to explain or predict the ____________ ________________ of properties from real estate sales and related data.

Property valuation models aim to explain or predict the market value of properties based on real estate sales and related data. Market value is a critical concept in real estate appraisal, reflecting the price that a property would sell for under typical market conditions, assuming the buyer and seller are knowledgeable and acting in their own best interests. These models use various data inputs, including recent sales, property characteristics, and economic indicators, to arrive at an estimate of value that informs buyers, sellers, and assessors about the current worth of a property.

The other options point to related but distinct concepts. Market trends refer to the general direction in which property values are moving over time, but they do not specifically equate to individual property valuations. Future prices imply an anticipation of what values will be in the future, which can be influenced by many factors and does not represent the current appraisal process. Property rates, typically associated with taxation or specific fee structures based on property values, do not capture the broader notion of market value in the context of sales data. Therefore, the most accurate completion of the statement regarding property valuation models is market value.