2023 Land Prices – What will happen?
In Texas, land is an ever-present commodity. Land prices are always changing and many factors contribute to changes in land values. This post focuses on building a comprehensive foundation of how Texas land prices change, giving you the knowledge you need to understand trends that impact land prices or price per acre.
Data is from the Texas Real Estate Research Center. Go here for more information: LINK
Our review goes over region 3 in Texas (refer below), average price per acre for over 50 years, the last four great recessions, and how average price per acre were effected by those recessions.
Please refer to graph below correlating to over 50 years of data related to average price per acre and the last four recessions.
We have added the interest rates to show the correlation with the average price per acre. Note, in 1990 when interest rates peaked at almost 20%, land prices decreased for the only time in 50 years.
