Higher interest rates will slow residential developers looking for land

But demand for land to build multifamily in downtown Sarasota and other locations will remain healthy, says Ian Black Real Estate.


  • By Louis Llovio
  • | 5:00 a.m. January 6, 2023
  • | 0 Free Articles Remaining!
Ian Black, partner, Ian Black Real Estate. (Courtesy photo)
Ian Black, partner, Ian Black Real Estate. (Courtesy photo)
  • Commercial Real Estate
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1. Even before the new year begins, Ian Black with Ian Black Real Estate says his firm is already seeing a tightening in the demand for land to build new homes.

He says the reason is that the sector is susceptible to interest rates changes and the Federal Reserve’s hikes have got residential home builders “pulling back a little bit.”

 

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