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Land Prices During Periods of Rapid Change

Author

Listed:
  • Schurle, Bryan
  • Featherstone, Allen
  • Wilson, Christine
  • Crossan, Dylan

Abstract

Accurate information on land values is a consequential concern when prices are changing rapidly. This study compares USDA data and sales data from 1971-2011. While the land prices from these series move in similar patterns, there are periods of substantial differences. These periods show a pattern where differences are larger when prices are changing rapidly, and where USDA prices lag sales data prices. The spread in prices in sales data is also examined. While the standard deviation of prices in a year is higher when prices are higher, the coefficient of variation, which measures relative variability, is very stable

Suggested Citation

  • Schurle, Bryan & Featherstone, Allen & Wilson, Christine & Crossan, Dylan, 2013. "Land Prices During Periods of Rapid Change," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2013, pages 1-13, June.
  • Handle: RePEc:ags:jasfmr:161489
    DOI: 10.22004/ag.econ.161489
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    File URL: http://ageconsearch.umn.edu/record/161489/files/381%20Schurle.pdf
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    References listed on IDEAS

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    1. Schurle, Bryan & Wilson, Christine & Featherstone, Allen & Remaury, Hugo & Harmon, Jacob, 2012. "Asset Bubbles, Inflation, and Agricultural Land Values," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2012, pages 1-13.
    2. Christopher Zakrzewicz & B. Wade Brorsen & Brian C. Briggeman, 2012. "Comparison of alternative sources of farmland values," Agricultural Finance Review, Emerald Group Publishing, vol. 72(1), pages 68-86, May.
    3. Shultz, Steven, 2006. "Differences Between Agricultural Land Value Surveys and Market Sales," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2006, pages 1-8.
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    Cited by:

    1. Taylor, Mykel & Schurle, Bryan & Rundel, Brady & Wilson, Bill, 2015. "Determining Land Values Using Ordinary Least Squares Regression," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2015, pages 1-12.
    2. Wilson, Bill & Schurle, Bryan & Taylor, Mykel & Featherstone, Allen & Ibendahl, Gregg, 2014. "Regression Estimates of Different Land Type Prices and Time Adjustments," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2014, pages 1-12.

    More about this item

    Keywords

    Agricultural Finance; Land Economics/Use;

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