Recent surveys have shown the agriculture real estate market has plateaued.
A survey by Farmers National Company shows that comes after several years of dramatic increases in farmland values.
The senior vice-president for real estate operations for Farmers National, Paul Schadegg. said over the past few years in the Dakotas and Minnesota, farmland values rose fairly quickly, but have now leveled out.
Schadegg said farmland value is driven by commodity markets and ag profitability.
"We're seeing that range narrow," Schadegg said. "The commodity markets are still quite strong, although they have come down a little bit. But the inputs going into agriculture have really gone up in cost."
Schadegg said that's where people are stepping back.
"We're still seeing positive growth," Schadegg said. "But it's just not that double-digit increases we saw the last few years."
Source: prairiepublic.org
Photo Credit: gettyimages-sizsus
Categories: North Dakota, Business