A new survey shows average Iowa farmland values have dropped 1.7 percent in the past six months. The report from the Iowa Chapter of the Realtors Land Institute says the decline left the values at about $6,800 an acre.
The report blamed the state decline on tariffs, continued lower commodity prices, a limited amount of land on the market, and rising interest rates.
Values went up in the past six months only in northeast Iowa, rising seven-tenths of one per cent. They fell 2.3 per cent in east central Iowa, and dropped 2.6 per cent in the southeastern part of the state.
But thanks to strong increases from last September (2017) through February of this year, land values actually rose 1.2 percent overall during the past year. For the past year, values in east central Iowa rose 2 per cent overall, and were unchanged in the southeast region.