A research economist at the Texas A&M real estate research center writes that “herds of Texas city dwelling buyers descended on rural locations” in the fourth quarter of last year.
From last October through December, almost one point seven billion dollars was spent for more than 552 thousand acres. That’s an average price of more than three thousand dollars per acre.
Doctor Charles Gilliland says there were almost 7,700 rural land sales in the fourth quarter of last year. That was an increase of almost 29 percent from the year before.
Rural land prices increased in all regions of Texas except for the panhandle and south plains.