While North Dakota continues to secure position as second highest crude oil producer in the United States, oil prices continue to slump. It would appear from the outsider that trouble is brewing. However, realtors in Watford City and Williston alike have still seen tremendous growth, despite the drop of oil below $50 per barrel. Even though population in Williston has dropped six percent from last summer, there’s still oil in the ground, and oil companies are still going to drill. The population has gone from transient to permanent. Many seasoned oilfield workers are in it for the long haul, and they’re settling in to sustain operations through the current cycle.
Meanwhile, grain farmers are producing bountiful yields with high protein counts. According to AgWeek, one farmer, Bob Drees, is hoping for 70 bushels per acres, and it looks like he’ll likely reach that. Yet wheat prices are lower than ideal. Instead of hauling grain into the elevator, some farmers are storing it until prices increase, according to an employee at an Arthur Companies’ grain elevator in Anamoose, North Dakota.
Despite what seems like a dismal situation in North Dakota’s two prime industries, things aren’t as bad as they seem. Moreover, the two industries have a profound impact on other business development throughout the state. As each industry continues to cycle, how do they affect other North Dakota businesses?
For the first time ever, multiple industry leaders are gathering together in Fargo at the Ramada Plaza Suites to discuss the impact of agriculture and energy on real estate and its related industries at the North Dakota Real Estate Summit: State of the Market. The summit will be held for one jam-packed day, September 23rd, beginning with registration at 7:15 and breakfast at 7:30.
Over the past few months, North Dakota has seen Williston’s once thriving real estate market hit a slump and Minot’s apartment rents collapse, but real estate investment in the state still holds much potential. Listen to keynote speakers such as confirmed guest former Gov. Ed Schafer in the Real Estate Titans Panel and participate in networking opportunities with potential investors. With topics from demographic shifts in the state to student housing to future trends and opportunities for residential development, the Real Estate Summit can help you plan ahead to make sure you know how to navigate through the next oil slump and agriculture disaster. Hail storms and oil spills won’t matter. Register today to take advantage of this tremendous opportunity to make the most of real estate opportunities right at home.
Register today for the Early Bird Rate of only $79. Walk-ins are welcome for $129. For more information, check out the full agenda here, including sponsorship opportunities. You can also contact Anthony Rome at 701-552-7099, email him at firstname.lastname@example.org, or register online here.