Highlights:
While overall median land prices steadily rose 4 percent, individuals and families continued to invest in land and account for 58 percent of buyers in land sales transactions, according to a 2014 Land Markets Survey, conducted jointly by the REALTORS® Land Institute and the National Association of REALTORS®. In addition, the survey also revealed that 17 percent of land purchasers are corporations/partnerships, 17 percent are investors, and 10 percent are expansion farmers.