Insights from the REALTORS® Land Institute & National Association of REALTORS®
The 2024 Land Market Survey, released by the REALTORS® Land Institute (RLI) and the National Association of REALTORS® (NAR), offers a timely snapshot of the U.S. land market—and the results reflect a shift toward a more balanced environment after the red-hot pace of the COVID-era boom.
Whether you’re looking to buy, sell, or simply stay informed, here are some key takeaways that could shape your land decisions in the coming months:
?? Residential & Recreational Land Leads the Way
Among all categories, residential and recreational land showed the strongest growth in 2024. With many buyers still seeking wide open spaces, homesteads, or country retreats, demand remains strong in areas offering a peaceful lifestyle, outdoor recreation, and long-term investment value.
This trend aligns with what we’re seeing across rural Nevada—buyers are increasingly prioritizing lifestyle and land ownership as a long-term hedge against uncertainty.
?? Prices Still Climbing, But More Moderately
All land categories posted price gains of 0.7% or more, indicating continued appreciation, though at a slower and more sustainable pace than during the pandemic. This suggests the market is normalizing—a positive sign for buyers looking to avoid bidding wars, and for sellers aiming to capture solid returns.
?? Economic Outlook Brings Both Headwinds & Opportunities
Trade disruptions and a slowdown in U.S. agricultural exports may soften demand for warehouse and industrial land in the short term. However, reshoring of manufacturing—as American and foreign companies bring production back to U.S. soil—could offset that with increased demand for industrial and mixed-use sites.
Access to financing for land purchases and development is expected to remain modestly favorable through 2026, which bodes well for developers, investors, and owner-operators looking to expand.
What This Means for Nevada Landowners
As a land broker serving the rural counties of Nevada, I see real opportunity in this more balanced market. Whether you’re holding irrigated ag land, recreational acreage, or large tracts with development potential, the data suggests it’s a good time to reassess your strategy.
And for buyers—especially those seeking rural lifestyle properties—2024 offers a more stable entry point, with financing options still within reach and price trends staying positive.
??Want to discuss how these trends impact your land or investment goals?
Let’s talk strategy. I specialize in helping buyers and sellers navigate Nevada’s unique land market—from Humboldt to Elko, Pershing to Nye.
?? Contact me today for a personalized consultation.
Real Properties for Real People® | Armani Land Company