Contents: The situation in general -- Farm real-estate values (Fewer States showed losses, but declines were larger - Year-to-year fluctuations in earnings not always reflected in values - Realized earnings in 1929-30 frequently fair, but recent products-price declines disappointing - No important reductions in prices farmers pay—taxes up again - Little in earnings developments to encourage rise in values - Readjustment of value structure in relation to earnings continued during 1929-30 - Burdensome supply of land still hangs over market - Demand for farms generally remained low - Mortgage policies and tighter money a factor - Periods of depression conducive to excessive deterioration of land and improvements - Value trend varies with grade of land - Not much change in average New England values - Middle Atlantic values down -Values in most South Atlantic States declined - Steadier tone in south-central values, although down in some States - Continued stability shown by far-western values—values up in some States - North Central values continued to decline, Kansas excepted -- Changes in farm ownership (Forced-sales rates higher but still below levels of earlier years - Forced-sales rates still generally high in relation to volume of voluntary transactions - Number of farm bankruptcies generally down - Voluntary-sales activity showed little change from low level of preceding year - Volume of voluntary transfers highest in Northeast and far West; lowest in Middle West and South - Inheritance and gift, administrators' and executors' sales about as usual - Two-fifths of transfers voluntary, a third forced, a seventh inheritance and gift - Voluntary sales largely to local farmers who bought for operation) -- Farm credit (More conservative mortgage-credit extension reported - No material change in credit situation probable in immediate future) -- Farm real-estate taxes (Taxes rise to new high level during 1929 - Little hope for betterment seen in farm tax outlook) -- Appendix (Sources of data and methods of compilation) -- Literature cited.