The pandemic had a significant impact on how and where people live and work, and these changes are expected to continue in 2023. Real estate trends will continue to shift as people either work from home permanently, return to the office or have a hybrid model. Many are also wanting to move into more suburban areas and out of high-density cities where housing is more expensive. All of these things and more will be important factors when buying or selling commercial or residential property in 2023.
With more people working from home, the demand for certain types of commercial space in North Carolina is limited. However, e-commerce companies are more likely to need larger warehouse space as online shopping has become more prevalent. It may take another year to have a clearer picture of how the pandemic affected the need for commercial space and what types of buildings are most desirable.
Residential home sales are expected to remain high in 2023 as supply will remain below demand. Multi-family properties are in especially high demand, and there are questions about whether supply will be able to overcome delays caused by shortages. Competition among buyers may remains high.
It is helpful to have experienced guidance when considering the purchase or sale of residential or commercial property in North Carolina. An experienced legal ally can provide knowledgeable guidance to ensure that one has the information needed to make practical decisions. With help, a buyer or seller can reduce exposure to financial loss and other complications.
Call our office at 704-873-2295 or email us today.
Attorney Mike Lassiter grew up in Statesville, makes his living serving the people of Statesville and published a book capturing the changing landscape of small town life across North Carolina and Iredell County. His keen sense of history, dedication to the area and 30 years of legal experience make him an ideal attorney for your legal needs.
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