one of the four broad categories of factors affecting the value of real estate, which are - physical, social, economic and governmental.

Social factors are changes in social norms, cultural beliefs, population, and family make-up can cause long-term changes in real estate markets. An example is the continual increase in the average age of the population. Markets have identified a demand for a type of housing that might not otherwise have been created. In the last 20 years there has been a proliferation of one-story detached condominiums or zero lot line homes. These accommodate the demand from senior citizens who prefer to have low maintenance one-story homes – that permit some privacy without the cost and trouble of maintaining a large yard.