Texas land markets encompass widely varying land types, including irrigated, cropland, desert land, native rangeland and timber land. The region-by-region article covers which types are selling and which are not.
Total Texas land sales in 2011 were below normal for the third straight year. Large tract sales were scarce. The Texas land market reflected the turmoil in the financial arena, and uncertainty and high commodity prices fueled strong demand for cropland.
Texas markets struggled to post a small gain with a continuing dearth of large tract sales. Gains appeared to be concentrated in West Texas, the Panhandle and High Plains. Uncertainty and high commodity prices fueled strong demand for cropland. For the third straight year, fewer acres than historic patterns forecasted changed hands in Texas.
Faulty or fraudulent appraisals that falsified the value of collateral contributed to the 1980s savings and loan debacle and the 2008 financial collapse. In the wake of those events, regulations were implemented to restrict interactions between appraisers and lenders.