The Realtors Land Institute, the top association in the U.S. for land brokers, holds occasional member roundtables to hear how things are going. In a recent roundtable, participants were bullish about how land sales are going despite the pandemic.
A Colorado broker talked about heavy interest from California land buyers for properties in Idaho, and in turn, Colorado. And a Texas broker noted that recreational tracts under $1 million are his hottest item, with buyers looking for uses from deer and duck hunting to timber investment.
This matches what we’re hearing from the experts in PotlatchDeltic’s Preferred Broker Network, with continued interest from buyers of our properties in Alabama, Arkansas, Idaho, Louisiana, and Mississippi. It’s all part of a trend that we call “recreational distancing.”
As Russell Riggs of the Realtors Land Institute noted in a blog post:
“If real estate is still viable, land real estate may be in an even better position to take advantage of changing social trends and shifting demographics,” he wrote. “Increased time inside close quarters during the coronavirus pandemic is causing some urbanites to consider moving toward the suburbs and even further, a recent survey shows. …
“Anecdotal evidence from agents in Seattle and along the West Coast indicates that smaller cities in the region like Boise, Idaho, are becoming increasingly attractive.”
Clearly, buying recreational land is being seen by many as a viable option for investment. Looking for your own spot to enjoy and to build a legacy of your own? Contact one of our Preferred Broker Network experts today.