LOUISVILLE, Ky. — The Federal Reserve cut its benchmark interest rate Wednesday for the first time in nine months. Since the last cut, progress on inflation has slowed while the labor market has cooled . That means Americans are dealing with both high prices and a challenging job market.

But a Louisville housing expert said Thursday Jefferson County's housing market is remaining steady despite growing unemployment and inflation.

However, the Greater Louisville Association of Realtors (GLAR) president, Will Ficher, said that does not mean you should jump to sell or buy your home immediately.

Regardless, the quarter-point drop may help those that are on the edge of closing on a home or considering refinancing their existing mortgage.

"One of the phrases that most realtors say, and

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