Overview
- Realtor.com, which released its first national land analysis on Tuesday, reports listings down 23.6% from Q1 2019 and a Q1 2026 median of $62,365 per acre.
- Home listings began to recover in 2024, but land supply did not because parcels developed between 2020 and 2022 returned to the market as houses, not land.
- Prices per acre are up 76.6% since 2019 even as Q1 2026 showed a slight 0.5% year-over-year dip, driven by a 5.9% decline in the West and small gains elsewhere.
- The Northeast and Midwest posted the largest cumulative gains since 2019 at about 101% and 89%, while the West rose roughly 32% and is now weakening.
- Raw, undeveloped parcels climbed the most since 2019 at 86.5% versus 53.3% for build-ready lots, a gap that can push up new-home price floors and delay projects.