Goodbye 2022! Hello 2023!

This year has been one for the books! As commercial real estate continues to change, I was fortunate to have had 14 listings for a total of 6.6 million and 10 sales for 8.2 million. Throughout 2022 we have seen so many different changes, had many obstacles, but through it all we came out on top. I am so beyond grateful for all of my amazing clients, my friends, and family who have supported me throughout the years. 

Recap

Multifamily and industrial properties were the leading sectors of 2022. Retail, multifamily, and industrial properties were all amplified from the consumer demand. As we continue to see industrial properties grow, we are seeing that multifamily rent rates are decreasing but that their housing demand remains strong.

Consumers have been cutting back their spending due to the continual growth of inflation which has not been a great sign for retail. This causes store spaces to decrease in size. Though as we continue back to normalcy from COVID, retail stores that are offering in-store services are advancing. 

Office spaces continue to struggle as businesses continue with hybrid work options, but the numbers have been growing as people are wanting to come back to work and into a new work space. 

2023 Insight 

As we near 2023 some have been curious as to what is in store.

There are mixed reviews as to how 2023 will go, which is to be expected  As our economy continues to try to come back to normalcy we are fighting with inflation, higher interest rates, and supply chain issues. This may be happening but that does not mean we can’t see change happening. There is always opportunity in places there weren’t before. 

I am really excited to see what 2023 will bring! So many new and exciting things to come and I can’t wait to share them with you!

Wanting to start your 2023 right with an investment or looking to sell/lease your property? Connect with me to make your experience go as smooth as possible.

Cassiewells.com | 501.993.1973 | cassie@cassiewells.com