Houston Chronicle by R.A. Schuetz 3/31/2021
The pandemic-fueled desire to get out of cities drove city-dwellers to rural Texas, sending the value of land transactions to a new record in the last three months of 2020, according to the Texas Real Estate Research Center at Texas A&M.
The 1,103 fourth-quarter land transactions spiked 29 percent compared to the year before. Land prices rose 3 percent to $3,064 an acre.
In all, 552,707 acres, with an aggregate value of $1.69 billion, traded hands.
“Taken together, the third- and fourth-quarter results signal an active and rising market with strong demand for land in most areas of Texas,†said Charles Gilliland, an economist at the center who has studied state land markets for 40 years. “Currently, market professionals report a flood of interest in land purchases.â€
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