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(Fox Business)  The Federal Reserve’s 50 basis point cut has ignited market chatter among America’s real estate leaders who think this could be the start of a buying and selling frenzy.

“Everybody’s happy. It doesn’t matter what type of business they are in,” Shoma Group founder and CEO Mousad Shojaee told Fox News Digital in reaction to the decision on Thursday.

“The atmosphere and attitude since yesterday has been changed completely,” he continued. “Everybody, they see a smile on their faces, and you have the energy. It’s like they have all their lights on because it’s been four years.”

Compass Regional Vice President Jeffrey Polashuk also voiced support for the cut.

“I believe that a lot of the rate cuts were already baked into finance pricing, but the positive news of this change will ensure that people won’t delay their search any longer. This rate cut paired with the election season ending in the next two months will be the trigger that will propel people back into the market,” he told Fox News Digital.

Investors and market watchers sat on the edge of their seats Wednesday afternoon, as the Fed announced a long-awaited interest rate cut, lowering the benchmark rate by 50 basis points from what was the highest level in 23 years as the central bank eased borrowing costs following progress in the fight against inflation.

The Fed’s first interest rate cut since March 2020 lowers the benchmark federal funds rate to a range of 4.75% to 5%.