Is mortgage / housing stocks too obvious of a play now, or is there a catch?

With rate cuts coming, and interest rate going down, I would assume everyone is expecting stocks like Redfin and Zillow to go up. For instance, RDFN is already up about 50% in just a week, but it's still down 84% from its 2021 high.

I guess my question and point of discussion is? What stops everyone from buying these stops blindly? What's the catch here? Is it that inflation might be sticky and interest rates might go back up after a while?