TEXAS -- Due in part to its cowboy heritage, Texas boasts lots of wide-open spaces. So much so, in fact, that the Lone Star State led all of the states in 2021 land sales.
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According to a new report from the National Association of Realtors and the Realtors Land Institute, the five states with the largest shares of land sales in 2021 were Texas (14.6 %), Florida (12.8 %), California (6.2 %), Georgia (5.3 %), and Arizona (5.2 %).
"Even with rising interest rates, I expect sustained growth in land sales and prices this year, driven particularly by the demand for multifamily and single-family housing needs," says Lawrence Yun, chief economist at the National Association of Realtors.
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