Purchases of large, rural properties in West Texas grew 50% in the first quarter of 2021, according to new research from Texas A&M University. "In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity," Dr. Charles Gilliland, research economist and rural land expert for the Texas Real Estate Research Center at Texas A&M University, said in a Tuesday statement. Also in the first quarter of this year, the Texas rural land industry recorded an annualized total dollar amount of $1.99 billion -- a 38% increase compared to last year. EXODUS FROM CALIFORNIA, HIGH TAX STATES DRIVING UNPRECEDENTED REAL ESTATE BOOM"This unprecedented sales volume confirms reports of buyers flocking to rural environments during these uncertain times," Gilliland said. "...These developments mark one of the most active times in the history of Texas land markets as urban-based buyers seek out rural retreats.

Source: Fox News May 11, 2021 22:41 UTC