Farm income may have flattened last quarter, but land values remain strong
Farm incomes may have fallen flat last quarter, but the Minneapolis Federal Reserve Bank shares land values remained strong across the region.
“I believe that we had non-irrigated land values increasing on average by about 9 percent across our region. That varied by state a little bit, but that generally held throughout the region, and we saw some increase in irrigated land and pastureland values as well,” according to Joe Mahon.
The President of farm real estate company, Murray Wise Associates thought when interest rates started to go up over the past year there may have been some pullback, but that was not the case.