Currently, the Fed has maintained its benchmark interest rate at a 23-year high to combat inflation, resulting in elevated mortgage rates. This has deterred many potential buyers, especially those with limited funds. Meanwhile, existing sellers, benefiting from historically low mortgage rates of around 3 percent, have been reluctant to enter the market, fearing higher rates upon purchasing a new property.

A rate cut by the Fed could theoretically prompt more sellers to list their apartments. However, such a move might not substantially alter the landscape for buyers. Lower ...