“We’ve been talking about what’s going to happen to farmland values for the past several months. We had hyperinflation in 2021-2022, and at some point, it had to stop. We feel like that point is now and we’re seeing a plateau of land values. They’re still high, and that’s so for people looking to buy low and sell high, it’s a great time to do that,” stated CEO of National Land Realty Ronnie Richardson during his recent interview on RFD-TV.

Given the barriers to entry that these high land values have created for younger buyers, according to Richardson options such as leasing are gaining traction among those looking to use land. Similarly, 1031 exchanges are becoming more popular as sellers look to protect the appreciation they’ve experienced over the past 10 years. Richardson went on to explain how factors like weather conditions and water availability may create opportunities for buyers in 2024.

Click here to view the full interview on RFD-TV!

If you’ve got questions about land values in your area, get in touch with your local Land Professional today!