FBN® Poll Indicates 38% of Farmers Are Planning to Buy Farmland in Next Year
A recent FBN® poll indicates that 38% of farmers are looking to buy farmland in the next year, with only 2% looking to sell.
The poll, conducted via text message to FBN members on February 9, asked respondents, “In the next year, are you trying to buy farmland?” Available responses included:
B: No, prices are too high
C: No, interest rates are too high
D: No, I'm selling
E: No, I’m not expanding
Eliciting 3,867 total responses, the poll indicated that 60% of FBN members are not looking to buy farmland in the next 12 months. Of those who said they were not planning to buy land, the majority cited high prices as their primary reason not to buy, followed by high interest rates.
[Interested in securing a land loan but not sure where to start? Access the free FBN guide "Ag Land Loans 101: Everything Farmers Need to Know About Securing Farm Land Financing" to learn more.]
Financial Solutions from FBN Finance
If you’re like the 38% of farmers interested in expanding their ag operation within the next year, FBN Finance has a wide range of available financing options to help you take that next step.
If you are concerned about the higher interest rates, keep in mind rates are volatile and are predicted to come down in the near future. Quality land is hard to find, so don’t miss out once you find the right acreage for your operation. It may be worth considering securing a loan now and refinancing later when rates are more favorable.
Connect with a FBN financial advisor today by clicking here, completing the form below, or calling 866-619-3080.
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Financing offered by FBN Finance, LLC and its lending partners. Terms and conditions apply. To qualify, a borrower must be a member of Farmer’s Business Network, Inc. and meet all underwriting requirements. Interest rates and fees will vary depending on your individual situation. Not all applicants will qualify.