Earlier this week, the U.S. Federal Reserve announced an aggressive interest rate cut, boosting general optimism throughout the markets.

But how will that 0.5% cut affect South Florida's biggest economic driver, real estate? While some experts in the sector are optimistic, there's a prevailing sense that more needs to happen in order to bring more balance to the real estate market. Recently, the sector has been hit with higher asking prices and inflated insurance premiums. Although the rate cut is a step in the right direction of putting practitioners in the sector at ease, local experts are hoping for more factors to align in the coming months.