The Annual Land Market Survey
The Land Markets Survey is conducted annually each fall by the REALTORS® Land Institute and the National Association of REALTORS® Research Group as a tool for real estate land professionals in all sectors of the business to use for bench-marking and as an informational resource when conducting business.
The survey is designed to reveal current trends and the current state of land markets across the US. RLI encourages all land real estate agents to participate in the survey to ensure it is as accurate in representing the actual state of the land market each year. For more information about this survey, contact us at 800-441-5263.
The Realtors® Land Institute and National Association of Realtors® Research Group released the results of their annual Land Markets Survey. The 2018 Land Markets Survey showed sustainable growth in both national land sales and land prices. Survey respondents reported a gain of two percent year-over-year increase in land sales and a two percent increase in land prices between the October 2017 and September 2018 period being measured.
Although an increase was seen for both land sales and prices, growth was at a slightly slower rate than the previous year. The slowdown is likely a result of rising interest rates, potential negative impacts of the tariff/trade war, and commodity prices still remaining depressed. The overall slowdown of the land market is primarily attributed to the modest gains across residential land sales (four percent from five percent), commercial land sales (three percent from four percent), and agricultural land (one percent from two percent) compared to the previous year. Additionally, the survey found properties were sold in a shorter time frame than in previous years with land typically on the market only 90 days, compared to the typical 95-100 days seen in past surveys.