The Iowa Chapter of the Realtor’s Land Institute just released a new report which says the state’s farmland values fell 2.7 percent over the past year. Chapter President Travis Smock says it was mainly due to farmers having less money available to pay for that land with lower commodity prices.
He says part of the decrease in farmland values was also connected to the trade war.
Smock says however, Iowa has had several years of strong farmland values.
Tightening cash for operations and higher interest rates also had some effect on the latest decrease in farmland values. The statewide average price for Iowa farmland was $6,800 an acre.
