The Federal Reserve raised benchmark rates a quarter-point Wednesday, and while many investors believe higher rates automatically increase capitalization rates and weaken property values, new research casts doubt on that relationship.

TH Real Estate analyzed earlier periods of rising Treasury yields and said there is a very low correlation between increasing rates and lower property values, CoStar reports. The connection between the two is so low there is no provable relationship, according to the TH Real Estate report.

Instead, the report said real estate demand grows when the economy is improving, and central banks typically increase interest rates to match strong economic growth. Experts said that is currently the case, and while the relationship between property values and interest rates is complex, it is possible real estate could benefit from gradual rate increases.