Southwest Florida Sustains Record High Industrial Property Sales Despite Two Years of Interest Rate Hikes

As bond markets reacted to soaring inflation, benchmark U.S. interest rates, such as the 10-year treasury rate and the average rate for new 30-year fixed mortgages, rose more between October 2021 and October 2023 than during any other two-year period since the early 1980s. Rising interest rates make borrowing money for new property acquisitions more expensive and typically reduce sales of all kinds of real estate, including industrial buildings.