Value Of Wisconsin Farmland Sees Increase
Saturday, November 19th, 2016 -- 7:39 AM
The value of Midwest farmland didn't change much overall during the third quarter of 2016, but Wisconsin and Indiana were two states that did see increases.The Wisconsin Ag Connection reports that according to the latest survey of agricultural lenders in the Seventh Federal Reserve District, agricultural property values between July through September were three percent lower from the same time last year; and fell about one percent compared to the previous quarter. In the most recent questionnaire of 208 rural bankers, survey respondents noted that Wisconsin properties were up two percent from last year, though unchanged from the second quarter. Farmland in the Hoosier State was up just one percent for the year, but Illinois, Iowa and Michigan all saw decreases in the values of their ag properties.
Demand for non-real-estate loans compared with a year ago was stronger in the third quarter of 2016. Looking forward, survey results indicated that a majority of the respondents expected farmland values to keep dropping in the fourth quarter. They also felt that demand for farmland purchases by both farmers and nonfarm investors will be weaker this fall and winter compared with a year ago. Yet, a lack of available properties for sale may be playing a role in keeping farmland values from dropping faster
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