It’s déjà vu all over again in Texas land markets. Statewide prices in the first half of 2013 increased a remarkable 8 percent over 2012 prices.
Contributing to this trend, prices in many local land markets soared to rates seen in the 2004-05 heyday. Regional prices in South Texas and the Austin-Waco-Hill Country region of Central Texas bucked the trend and drifted slightly lower after strong increases in 2012.
The statewide price of $2,479 per acre compared with the 2012 year-end price of $2,295 per acre, marked an extremely strong uptick for the first half of 2013. However, the market continued to focus on small properties for the most part.
Read more...Texas Land Market Prosperity Returns | the Blog of the Real Estate Center
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