Texas Land Market Cools Off

Land sales in the Lone Star State fell 26.5 percent between mid-2021 and mid-2022, according to the Texas Real Estate Research Center. Per Texas Land and Market Latest Developments, land sales slowed considerably from last year’s frenzied pace. Quarterly figures dropped from 2,710 transactions in Q2 2021 to 1,822 transactions in Q2 2022. A total of 850,469 acres changed hands, up 3.67 percent over 2021. “This trend toward rising prices and declining activity suggests demand is dropping,” said Research Economist Dr. Charles Gilliland. “If so, brokers may begin to find ebbing enthusiasm among potential buyers.” The Texas Real Estate Research Center was created by the Texas legislature and is funded primarily by real estate license fees. It creates data-driven content for the real estate industry, instructors, researchers, and the general public. Read more HERE.