Probably not toward buyers. Falling rates bring in buyers and sellers at the same time, so the balance buyers face rarely improves. When rates fall, affordability improves and more first-time buyers step in. At the same time, more owners feel free to list. The catch is that most of those sellers are also becoming buyers, moving from one home into another rather than exiting homeownership, so supply and demand rise together and the underlying balance stays roughly where it was. Transaction volume goes up, which is good news for agents and lenders, while the squeeze buyers feel does not automatically ease. The deeper issue is inventory. If homes were plentiful, a modest rate drop would not move prices much. Because supply is constrained, partly by owners locked into low rates who do not want to sell and buy up into a higher one, cheaper money mostly adds demand without adding much supply. That setup keeps prices firm. In land-constrained metros like coastal Southern California, with little room to build, the pressure is even harder to relieve. We will not predict a price direction, because nobody can promise where prices go. What we would not bet on is a repeat of the extreme demand surge that required unusually cheap money. Watch inventory and days on market in your own metro; those two numbers tell you whether your local market is loosening far better than any rate headline does.