Why does Peter refer to faith as 'precious'?

In the sermon, faith is described as 'precious' and also 'common.' This duality emphasizes that while faith may be a shared experience among all believers, its value is unparalleled. Like water and air, which are common necessities but are profoundly precious for life, faith is the means through which believers access God's promises and grace. It becomes precious because it allows believers to encounter spiritual realities and have a relationship with Christ. Faith is not merely an automatic response; it requires nurturing and active engagement, resulting in deepened spiritual understanding and experience of God's blessings.