Last year we had approximately 80 new home building applications here in Spencer County Indiana (Information was provided verbally "face-to-face" by our local zoning board), and this year we have had less than 5. New builds are dwindling with the "Go-Green" and global warming actions (among other economic factors) so I do feel that this decreases land value and thus results in the drop in price.
"Supply & Demand" is what drives this industry.
It's Ebay! That's what's up! Bu seriously, I remember reading articles about the "plains" states, Kansas in particular, who were loosing so many families that they decided to GIVE free lots plus waive building fees, sewer/water fees plus provide low cost home building loans!! Now I'm not a big fan of Texas and I haven't the foggiest where "Dale" (next to "Chip"), Texas is, but maybe things ain't so swell in the Big "T".