How will the Fed interest rate cut affect South Florida’s real estate market?

The Federal Reserve has cut its key interest rate for the first time in over four years, reducing it by half a point to approximately 4.8%. This move is expected to lower mortgage rates, benefiting home buyers and potentially supporting home prices in South Florida. However, the condo market faces challenges due to falling prices and new structural inspection requirements. While the rate cut may stimulate real estate activity in the short term, concerns about rising inflation persist.