Research economist Dr. Charles Gilliand reports on Texas land markets for 2019.
Research economist Dr. Charles Gilliand reports on Texas land markets for the third quarter 2018.
Research economist Dr. Charles Gilliland reports on Texas land markets during the first six months of 2018.
The strong trends established in the second half of 2017 steamed ahead in preliminary first quarter results.
Texas land markets posted a surprisingly strong fourth quarter as oil prices rose and drilling activity rebounded.
Based on results through the first three quarters of 2017, prices in Texas land markets have moved up slightly from 2016 levels.
Prices in Texas land markets continued to rise in the first half of 2017 about 4.3 percent above price in the first half of 2016. Political uncertainty, falling value of the dollar, and continued prosperity promise to support current price and volume trends for the remainder of the year.
Texas land prices reached a new high in the first quarter of 2017. However, deflated prices have essentially remained rather flat since 2015. These first quarter results indicate that current market dynamics reflect a more measured environment compared to the accelerated growth in 2013-14.
Following the robust price recovery from 2012 through 2013 when prices surged by 7 to 10.5 percent annually, Texas land markets seem to have taken a break.
By the end of the third quarter, Texas land markets had shaken off the drag inspired by low oil prices ...
Despite continuing turmoil in the oil patch, Texas land markets managed to post a small price gain in the second quarter of 2016, moving up just short of 2.5 percent to $2,500 per acre from the 2015 year-end price of $2,441 per acre.
Final year-end results indicate that 2015 Texas land market price trends slowed considerably.
Since 2010, all segments of Texas land markets have prospered with rising prices and increasing interest.