Short Answer
Interest rates influence buyer affordability and purchasing power in the Keys. However, the market has a large cash-buyer segment that is less sensitive to rate changes, providing some insulation from national rate fluctuations.
Interest rates influence buyer affordability and purchasing power in the Keys. However, the market has a large cash-buyer segment that is less sensitive to rate changes, providing some insulation from national rate fluctuations.
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Steve's Advice
Steve Conley
Principal, Conley Sales Group at COMPASS
Higher rates affect the Keys less than many mainland markets because a significant percentage of Keys buyers pay cash or use portfolio lending. That said, higher rates do reduce the buyer pool in the $800K to $1.5M range where most financed purchases happen.
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