University researchers noted in the findings published Tuesday that countryside sales surged in the third and fourth quarters of 2020 while the country grappled with COVID-19 case surges and lockdowns, as well.
“In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity,” Dr. Charles Gilliland, research economist and rural land expert for the Texas Real Estate Research Center at Texas A&M University, said in a Tuesday statement.
BIDEN TAX HIKE WOULD ACCELERATE EXODUS FROM HIGH-TAX STATES, EXPERTS PREDICT
She added that Q1 2021 sales of “large acreage rural properties” increased by more than 50% in West Texas and 37% throughout the state, sending the statewide price for such land up 9.5% higher than 2020 costs to a record $ 3,251 per acre.
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