Realtors survey shows drop in Iowa farmland values - KWWL - Eastern Iowa Breaking News, Weather, Closings

Realtors survey shows drop in Iowa farmland values

WEST DES MOINES (AP) -- A survey shows the value of Iowa's farmland has dropped for the first time in nearly 10 years.

The survey released Tuesday by the Realtors Land Institute indicates farmland values declined by an average of 7.6 percent in the past six months. That hasn't happened since September 1999.

The land institute splits up Iowa into nine districts, and all showed drops in value. The steepest decline was in west central Iowa, which saw a 14 percent drop.

Troy Louwagie, of the institute, blamed the drop on lower commodity prices, higher input costs and the volatile stock market.

Online Producer: Mike Verlo

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