Sales of previously owned homes in the United States fell sharply in August, despite mortgage rates plummeting that month. But much more housing demand will likely be unleashed onto the market after the Federal Reserve finally cut interest rates this week for the first time in four years — and signaled more rate cuts by year’s end.

This week, the Federal Reserve cut its influential federal fund rates by 50 basis points. That could shake up the dynamic of the housing market, though perhaps not immediately.