According to the study, land sales in the first quarter of 2023 were up 4 percent from the previous quarter, and up 11 percent from the same period a year earlier. Despite rising interest rates and inflationary pressure, demand for land remains strong, the study found.
The study attributed the strong demand for land to the growing popularity of rural living, as well as the low supply of land available for sale. The average price of land sold in the first quarter of 2023 was $2,700 per acre, up 7 percent from the previous quarter and up 13 percent from the same period a year earlier.
You can read this full article at: https://www.housingwire.com/articles/land-sales-volume-remains-high-but-slower-than-pandemic-peak/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
