LITITZ U.S. farmland values increased an average of 9.3 per cent during the year ending February 1,1981, well below the 1&- percent increase of a year ago, and less than the 11-percent rise m the Consumer Price Index over the same period. Since land prices increased more slowly than the CPI, the real value Farm real estate values climb at slower rate of farmland declined. The last such decline occurred in the year ending March 1,1971. The 1980 drop in the real value of farmland reflected a decrease in net farm mcome from $3l billion in 1979 to $23 billion in 1980. High interest rates and tight credit also affected the farm real estate market. Pennsylvania land was up 13 percent on an average. The largest mcreases in far mland values occurred in Mississippi, up 27 percent, and California, up 22 percent. Alabama, Louisiana, and Washington each showed an in crease of 18 percent. Only 11 of 48 states showed mcreases that Lancaster Farming, Saturday, April 18; 1981—PIS matched or exceeded the rate of inflation. * The national average value of farm real estate is now $790 per acre. However, farmland is worth an average of almost $3OOO an acre in New Jersey, and the average exceeds $2OOO in four other states. Transfers of farm real estate number 9 percent fewer m 1980 than in 1979 Voluntary sales of farm real estate declined 14 per cent. The rate of foreclosures increased from 1.1 per 1,000 farms to 1.3. The farm real estate market is expected to pick up in 1981 as In terest rates decline and net farm income rebounds. From February 1981 to February 1962, land values are expected to increase between 11 and 16 percent. ROTEC V' 't « ' * A VARIETY OF AGRI-TANKS FOR CHEMICAL STORAGE, TRANSPORT & APPLICATION; • UNION CARBIDE'S NEW RESIN FOB THE AGRICULTURAL ’Bo's • CIBA-6EIGY U V STABILIZER • ALL SHAPES & SIZES • STRONG ONE-PIECE CONSTRUCTION . MADE TO LAST FOR YEARS & YEARS . 1-YEAR LIMITED (BUT NOT VERY) WARRANTY Call Todayjft Stop In and Let Us Solve Your Agri-Tank Needs Distributed in your area by MARTIN’S AG SERVICE R.D. 1 - Gristmill Rd. New Holland, PA 17557 PH. 354-5848 Dealer Inquiries Invited 1 O HURST TIRE SERVICE , PHONE (717)354-493^ 1 Mile West ot Blue Ball On R( 322 OTCM BKOM SUTM jsr' 3 *
Significant historical Pennsylvania newspapers