As more states move to legalize recreational and medical marijuana, the real estate industry is increasingly being impacted. For one, commercial practitioners are finding increased demand for land warehouses, and storefronts used for growing and selling marijuana. Real Estate pros are also reporting an uptick in cannabis being consumed in rental properties as well as homeowner associations that are grappling with creating rules around its use.
The National Association of REALTORS this week released a survey of 3,500 residential and commercial REALTORS who live in areas where cannabis is legal for recreational or medical reasons. The survey found that marijuana is still an emerging niche in real estate, with most practitioners reporting limited involvement in selling grow houses. But opportunities are, indeed, growing.