Report: Iowa farmland values fell 2.7 percent over past year
DES MOINES, Iowa (AP) — A new report says Iowa farmland values fell 2.7 percent over the past year, in part because of trade disputes.
The Iowa Chapter of the Realtors Land Institute says the decline occurred despite the federal government’s trade bailout program, limited land and higher yields in some parts of Iowa.
The statewide average was nearly $6,800 an acre.
The institute says trade wars with Canada, China, Mexico and other countries tugged on farmland values, especially last fall, as did tightening cash for operations and higher interest rates.
Here in the north-central Iowa crop reporting district, land values according to the report stayed steady between March and September of last year but slipped 2.8 percent between September and this month.