Land Real Estate Market Expected to Remain Steady Through 2024
“The trend that we’re seeing and preparing for is that the average age of a farmer in the United States continues to rise, so we know that there’s a massive wealth transfer set to begin sometime in the foreseeable future. But right now, we anticipated 2024 to be a static year and that’s what we’re seeing,” stated CEO of National Land Realty Ronnie Richardson during his interview on RFD-TV earlier this week.
Richardson went on to discuss current supply and demand for available land in the United States, and the ways that low supply is helping to maintain prices at their current levels. He also talked about how aging landowners approach debt structuring and estate planning as they begin to think about divesting their landholdings.
If you’ve got more questions about the land market in 2024, contact your local Land Professional today!