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FAR UPPER MIDWEST LAND VALUES UP 25%+, 50% IN PAST TWO YEARS
Sep. 18, 2012
Red River Farm Network reports:
Brent Qualey, who is with the Farmers National Company, says the agricultural land market is facing a "perfect storm."
Farm income is at record levels, interest rates are at record lows and little land has been available for sale.
"If anything, it has just increased in momentum in the last few months," said Qualey, "Around here, year-over-year, we're probably up 25 to 30 percent in land values and a year ago, we were up 20 percent; if anything, we're probably up 50 percent in the last two years."
During a seminar in the RRFN tent at Big Iron, Qualey says farmers are the dominant buyers. With more corn grown in the northern Red River Valley, land values have also increased. Sugarbeet and potato ground has also been strong.
"The trend has been that the land market has picked up steam as we've gone into fall and winter."
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