Texas Rural Land Buying Frenzy Wanes
Rural land sales volume fell 26.5% from mid-2021 to mid-2022, according to the Texas Land Market Latest Developments by the Texas Real Estate Research Center (TRERC) at Texas A&M University.
“Clearly activity appears to be slowing,” said TRERC Research Economist Dr. Charles Gilliland. “Demand for land, as reported by rural brokers, remains strong but has noticeably cooled from last year’s frenzied contest.”
Gilliland said below-asking-price offers have returned to some markets, something not seen since third quarter 2020. Fewer properties were for sale in second quarter 2022, but prices increased by 24.5% to $4,286 per acre statewide.
Total second-quarter dollar sales volume hit $3.6 billion, up 28%. That compares with a 76.7% first-quarter rise, and a 97.6% increase in fourth quarter 2021.
Prices increased by more than 21% statewide, except in Far West Texas, where they fell substantially, says the report. Total acres transferred declined in several regions, and total sales dropped everywhere but Far West Texas.
“This trend toward rising prices and declining activity suggests demand is dropping,” Gilliland said. “If so, brokers may begin to find ebbing enthusiasm among potential buyers.”
2022 Row Crop Short Course
The 2022 Row Crop Short Course will be held at the Cotton Mill Conference Center near the campus of Mississippi State University on Dec. 5–7.
Lunch will be provided each day. Additionally, a social mixer and dinner will be held Monday evening at the Cotton Mill Conference Center. On Tuesday, a social event and steak/shrimp dinner will be held at 6 p.m. at the Cotton Mill Conference Center.
All meals are free if you preregister before Nov. 30. Registration after Nov. 30, including at the door, is $40, which includes all meals.
For more information, contact Kathy Johnson at 662-325-2701 or Kjohnson@pss.msstate.edu.