Real estate has been one of the hardest-hit sectors over the past 18 months, since the U.S. Federal Reserve embarked on its most aggressive campaign to raise interest rates in its history. First, inflation appears to be cooling, which might prompt the Fed to rethink future interest rate increases. Plus, on the back of the recent crisis in the U.S. regional banking sector, some economists are now calling for the Fed to start cutting rates in 2023.