ANALYSIS OF WATER RIGHTS PRICES IN NEW MEXICO'S LOWER RIO GRANDE BASIN

WRRI Technical Completion Report 356 ABSTRACT - The transfer of water rights is an important institution used to stretch available water supplies to meet growing water demands. In the Lower Rio Grande Basin (LRGB), it is used to support sustained population and economic growth. Potential sellers are unsure of what price to charge for water rights, while buyers are unsure of what price to pay. This lack of information on water right prices creates an uncertain and unpredictable market, which jeopardizes the future of water rights to meet growing demands. Improved understanding of the economic forces influencing water rights prices will help buyers and sellers, adding vital information to support continued economic development of the region. Starting in the LRGB, this project has assembled actual verified water rights market data into a database that can be used to characterize the price of water rights. The database includes data from 1980 to 2007.