Is it a good time to buy?

Last year, higher than normal land prices were fueled by gains in crop and livestock markets.

But that’s changed in 2015.

The falling oil and commodity prices caused would-be cropland investors to pull back, leading to an increased real estate inventory, according to Texas A&M University’s Real Estate Center.

“When you see corn prices taking the dive they’ve taken and oil prices sitting where they’re at and even timber prices are still suppressed, you know it begins to take a toll on the market,” Tyler Jacobs, a broker for Hall and Hall, told the Texas Farm Bureau (TFB) Radio Network.

But that doesn’t necessarily lead to lower land prices.

Higher quality farm and ranch land will still bring premium prices.

“Within every market, you have high quality properties and low quality properties. I think that’s where you’re going to see the continued distinction in pricing,” Jacobs said.

You can hear the full report on Texas News and Views: http://bit.ly/1PSldUO.