By Jared Groce
The dog days of summer have not cooled down the sizzling hot land market in North Texas. There has been a slight increase in the number of new listings coming on the market, but they are still being snatched up quickly. Most of the demand is stemming from the “urban flight,” as people realize the city life is not always the best life for everyone, especially during a pandemic.
Expectations are for the current demand and pricing to remain stable for the remainder of 2021, and on into 2022. While the fourth quarter is always a busy time in the land business, I think it will be even busier this year due to this demand, along with more owners selling properties before the new capital gains taxes take place in 2022.