I recently participated in a survey conducted by LandThink, The Survey asked: In your opinion, which factor has the largest impact on the overall health of the rural land market? LandThink brings together the various components of the land industry and provides knowledge and information to land investors, owners and professionals to create a stronger land marketplace. I wanted to share these important results with you.
An overwhelming majority, 35.11% of respondents think the overall economy has the largest impact on the overall health of the rural land market.
In a strong second place, many in the LandThink audience (19.86%) thought that commodity prices had the largest impact on the rural land market. The price of corn, wheat and soy beans affect land prices. In my judgment, if the survey was limited to those brokers and buyers in the ‘bread basket’ that would have been the overwhelming majority answer, however respondents deal with farms, timberland, recreational and other land uses across the country.
In all honesty, I selected ‘other’ and here is why. My preference would have been ‘consumer confidence’. I believe consumer confidence is a composite number that represents not only the overall economy but also the stock market, interest rates and other factors. If you are confident on your career, feel that borrowing is affordable and see year over year increases in your 401K or IRA, you are more likely to buy LAND.
If you would like to see my listings, visit AllSouthLandandHomes.com If you have questions about selling or buying LAND, contact G. Kent Morris, ALC, RF @ 706.457.0090