Date of this Version
Cornhusker Economics (March 20, 2013)
Despite an extreme drought and indicators of weaker agricultural earnings on the horizon, the markets for agricultural land in Nebraska have remained strong into early 2013. Preliminary findings from the 2013 University of Nebraska-Lincoln Nebraska Farm Real Estate Market Developments Survey show the state’s all-land average value rose 25 percent over the 12-month period ending February 1, 2013 (Figure 1 on next page and Table 1 on page 3). Following on the advances for each of the previous two years of 22 percent and 32 percent, respectively, the 2013 all-land value of $3,040 per acre is more than double the value of just three years previously, in early 2010. Few would disagree that this period has clearly been a land boom.