US land values up three percent, land sales up four percent showing strong land market
The REALTORS Land Institute and National Association of REALTORS Research Group released the results of their annual Land Markets Survey, which shows a 4-percent increase in land sales and a 3-percent increase in land prices over the previous 12 months.
Sales for all types of land rose, indicating a strong national land market. In the lead were residential land sales with an increase of 5 percent, followed by commercial land sales up by 4 percent. Analysts in the NAR Research Group and at RLI believe these markets are in the lead because of the sustained economic growth and the continued recovery of the housing construction market due to an increase in new home sales.