RLI 2017 Land Market Survey
The Land Markets Survey is conducted annually each fall by the REALTORS® Land Institute and the Research Department of the National Association of REALTORS® 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 which shows a 4 percent increase in land sales and a 3 percent increase in land prices over the previous twelve months.
Sales for all types of land rose, indicating a strong national land market. In the lead were residential land sales with an increase of 5 percent, followed by commercial land sales up by 4 percent. Analysts in the NAR Research Group and at RLI believe these markets are in the lead because of the sustained economic growth and the continued recovery of the housing construction market due to an increase in new home sales.
Land sales for agricultural irrigated land also rebounded after contracting last year, as commodity prices generally stabilized from late 2016 to early 2017 after slumping since 2014. Responses from survey participants indicated a lack of land financing, tighter zoning regulations, and valuation issues as some of the biggest issues facing the industry.
RLI’s 2018 National President Jimmy Settle, ALC, said “Now is great time for landowners and investors as well as land professionals. With flat commodity prices making the growth in ag land sales modest compared to residential and commercial land sales, it’s encouraging to see the market as a whole still continue to strengthen.”
The annual Land Markets Survey is a tool for landowners and land real estate professionals in all sectors of the business to use for bench-marking and as an informational resource when conducting business. This year marks the fifth consecutive year that the survey has been conducted to reveal current trends and the ever-changing state of land markets within the industry; and with over 800 respondents this year, it continues to grow. View full press release.