From brokers to bankers, investors to home buyers, anyone with a stake in the U.S. real estate market is keeping a watchful eye on the looming possibility of a historic interest rate hike. With inflation at a 40-year high, immense pressure is mounting on the Federal Reserve to institute a series of interest rate hikes of at least a quarter percentage point, and possibly even a half percentage point—a measure that hasn’t been employed in more than two decades.

For many areas of the country, particularly those with stagnant growth or heavy reliance on working professionals’ dollars, the impact of interest rate changes will surely be felt. Yet, here in South Florida, aggressive demand shows no signs of letting up. Whether interest rates change a little or a lot over the next year, demand is expected to continue to vastly outpace supply, largely insulating the region from any significant impact. There will continue to be plenty of buyers eager to pay top dollar to live or invest in Miami-Dade, Broward and Palm Beach counties, and a change in financing terms won’t deter them, particularly in a region where many pay in cash.