USA – NORTH CAROLINA Law and Practice Contributed by: John Livingston and Brittani Miller, Kilpatrick
Kilpatrick Townsend & Stockton LLP 1100 Peachtree Street NE, Suite 2800, Atlanta, GA, USA 30309-4528
Tel: +1 404 815 6500 Fax: +1 404 815 6555 Email: ktslaw.com/reach-us Web: ktslaw.com
1. General 1.1 Main Sources of Law
also offset reductions in office space post-pan - demic, as the increased rate of remote working has reduced demand for office space. Higher interest rates have countered some of the price increases and activity. North Carolina remains an attractive location for large economic development projects, led by an announced investment of more than USD4 billion from Novo Nordisk and four other announced investments of more than USD1 billion (Natron Energy, Fujifilm Diosynth Bio - technologies, Amgen and Johnson & Johnson) (Economic Development Partnership of North Carolina, 2024 North Carolina Economic Devel - opment Activity Report, 6 April 2025). 1.3 Proposals for Reform Similar to other jurisdictions, North Carolina will be affected by the National Association of Real - tors litigation settlement. The NC Realtors have prepared a summary of these changes, most of which do not affect North Carolina differently than other states (NC Realtors, Overview of the NAR Settlement, 17 April 2025).
A combination of federal, state and local laws, ordinances, rules and regulations working together create the patchwork of real estate law applicable in North Carolina. Federal statutes generally address fair housing, Americans with Disabilities Act, and environmental issues; state laws address recording priority, building codes, foreclosure procedures, landlord-tenant relation - ships and additional environmental issues; and local ordinances tend to address zoning, provi - sion of utilities, and building code enforcement. 1.2 Main Market Trends and Deals North Carolina continues to grow in population, achieving the fourth largest population gain of all states in 2024 by achieving the eighth larg - est growth rate (see, eg, Michael Cline, ‘North Carolina Now Home to Over 11 Million Peo - ple’, North Carolina Office of Management and Budget, 6 April 2025). This growth has led to increased multi-family development and home prices, particularly in the large metropolitan areas of Raleigh and Charlotte. The growth has
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