According to our recent survey of land buyers and sellers, land prices in 2016 are on the rise in most states with the largest increases happening over the next 12 months. States throughout the South (with a few exceptions in Arizona and Louisiana) are expected to see price increases by both sellers and buyers. Many Northern states show some confidence in price increases, although not as strong as in the South. See our map below for how your state performed.
Other data pointing to increased land prices include: Home Price Indices showing a recovery, household debt decreasing while assets and net worth are showing an increase, and an increase of foreign investors involved in US investments*. See all of the results from this survey – Land Market Outlook for 2016
The National trend on sold price per acre for land is on the rise, showing considerable increase in the second quarter of 2015. The trendline appears to be headed for an increase right into 2016.
Along with that data is a year-over-year positive increase in the change in price per acre. This was the greatest in August of 2015, but continued to increase throughout the rest of 2015.
Long term, land is always a good investment. Demographics will keep it that way…more people, the same amount of land.
-Land Buyer from Texas
I expect only a slight decline in prices and high transaction prices will still make for a sellers market.
-Land Broker from Nebraska