The Land Market Survey is conducted annually each year by the REALTORS® Land Institute (RLI) and the National Association of REALTORS® (NAR) Research Group as a tool for real estate land professionals in all sectors of the business to use for bench-marking and as an informational resource when conducting business. The survey is designed to reveal current trends and the current state of land markets across the US.

RLI and NAR unveiled the report and discussed its impact during a webinar on Wednesday, March 27, 2024.

2023 Highlights

• The land market has become more balanced compared to record high prices and sales during COVID, according to the 2023 Land Market Report from the REALTORS® Land Institute (RLI) and the National Association of REALTORS® (NAR).
• Home prices will continue to trend upward as the U.S. housing shortage continues. More land is required for development. Moreover, there has been a population shift away from major city centers towards suburbs, exurbs, and rural areas, which necessitates more housing and commercial real estate spaces into expanding areas. 
• Agricultural prices have retreated from recent peaks but are well above compared to pre-covid days. Farmland demand should remain strong, especially with ever increasing geopolitical uncertainty.

Scroll through the presentation below to see the full survey results as presented by RLI and NAR.

Click here for a link to downloadable version.