![]() ![]() At the same time, farm income was forecast to increase nationwide in 2020 (see Farm Income and Wealth Statistics for details). farmland values remained high in 2020, averaging $3,160 per acre, a small decrease of 0.8 percent compared with 2019. The USDA Economic Research Service studies trends in farmland values, assessing the impact of both macroeconomic factors (such as interest rates and the prices of alternative investments) and parcel-specific attributes (such as soil quality, government payments, rural amenity value and urban proximity). There is a regional variation in both farmland value levels and growth trends. To recognize the impact of changes in the purchasing power of the dollar, all value-based comparisons that appear below use inflation-adjusted historical data. ![]() After adjusting historical data for inflation, however, farmland values did not begin to increase until 1993, and between 20 were 1.3 percent below their 2016 level on average. (See more on farm assets and debt, including real estate.) USDA's annual June Area Survey indicates that farmland values began rising in 1988 and, except for single-year declines in 20, have continued rising. Farm real estate-including land and structures-is forecast to account for about four-fifths of the total value of U.S. ![]()
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