“I see the strength [of farmland sales] being high. I hope that the low inventory issue corrects itself, and my expectation is that it will continue to balance out. It’s doing so at a slower rate, which is a good thing. Overall, we expect to have a good healthy year this year. We expect to see appreciation, farmland appreciation should be solid and trending in the way it has in the past,” stated President of National Land Realty Jason Burbage on the 2023 land market during his recent monthly appearance on RFD TV.
Jason spoke about the differences between residential real estate and the land market and the various pressures that impact each market. He went on to explain that the land industry remains largely unaffected by many of the market pressures currently facing the residential real estate market and that the outlook for 2023 remains strong. Due to the cash-based nature of many land transactions, the land industry is far less affected by mortgage rate increases than the residential real estate market.
To learn more about the 2023 land market, view Jason’s FULL APPEARANCE HERE!
If you’ve got more questions about the land market, contact your local National Land Realty Land Professional!