Landowners are more interested in selling this year. The amount of land Farmers National Company has listed for sale is up 21 percent compared to last year at this time.
Most of the sales are coming from individuals or ownership groups who are deciding that now is the time to sell. The company says landowners may have recently inherited the land or have owned it for years, but sellers have watched the land market, and some want to take advantage of the still historically good land prices. Some sellers are thinking that there is more downside risk in land prices than upside potential, so for them, now is the time to sell.
Despite the slower land market, the past few years, Farmers National Company’s real estate sales have grown each year including a five percent increase in sales volume this year.
Source: National Association of Farm Broadcasting News Service.