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Today: National new-home sales fell sharply in July as builders cut prices without pulling buyers back, mortgage rates oscillated around recent highs with core PCE holding at 3.3% year-over-year, and the FTC's crackdown on corporate landlord junk fees is opening a lane for smaller property managers in markets like Athens.
New-home sales dropped nationally in July, with multiple outlets (Newsweek, ConsumerAffairs, Seeking Alpha, National Mortgage Professional) reporting the decline even as builders pushed prices to their lowest level since 2021. For Athens-Clarke County, this signals builder concessions may be coming to subdivisions on the Oconee and east side corridors. If you have buyer clients sitting on the fence, new-construction negotiations just got more favorable. Builders offering rate buydowns and closing cost credits should be expected through fall. (Newsweek, ConsumerAffairs, National Mortgage Professional)
National median listing price fell to $420,000, down 2.1% year-over-year, with asking prices declining for 32 consecutive weeks. Active inventory nationally hit 1.14 million, the highest since December 2019. Southern metros are leading the inventory build. Median DOM (Days on Market) sits at 60 days nationally. Athens agents should frame listing presentations around this reality: overpriced listings will age. Price correctly from day one. The Realtor.com data also shows 60.1% of home-shopping traffic now crosses metro lines, a record, as locked-in homeowners look for cheaper markets. Athens remains a value play versus Atlanta metro, and that cross-market search trend benefits local sellers. (Realtor.com Research)
Mortgage rates essentially flat but volatile. Bond markets reacted to July PCE data (core PCE at 3.3% y/y, headline at 3.7%). The 10-year Treasury bounced around 4.65-4.67%. Mortgage rates are roughly where they were yesterday morning, but intraday swings make locking decisions tricky. Refinance applications fell 2% week-over-week and are down 17% year-over-year. Purchase applications slipped 0.3%. For Athens buyers: lock when you have a rate you can live with. Waiting for a meaningful drop is a losing bet right now. (Mortgage News Daily, MBS Recap, RISMedia)
Smaller builders paying 6.7% more for materials than a year ago, per the NAHB/Wells Fargo HMI survey. Builders starting 5 or fewer homes annually saw 9.1% material cost increases, while 100+ start builders saw only 1.8%, thanks to bulk purchasing and locked contracts. Athens-area custom builders and small infill developers are absorbing the worst of this. Factor material escalation clauses into new construction contracts, and expect per-square-foot pricing to remain elevated through year-end. (NAHB)
FTC cracking down on corporate landlord "junk fees." The FTC issued an Advance Notice of Proposed Rulemaking targeting mandatory charges like technology add-ons, trash surcharges, utility processing fees, and nonrefundable admin fees that corporate landlords layer on top of base rent. Multiple state attorneys general, including New York, are pushing legislation to restrict institutional landlord fee structures. For Athens property managers: this is your competitive advantage. Small operators who quote all-in rental rates and avoid nickel-and-dime fees will attract tenants fleeing corporate-managed communities. Market your transparent pricing. If you manage properties competing against institutional landlords in the Athens market, highlight fee-free leasing in your listings. (BiggerPockets)
Michigan passed legislation on security deposits and rent fees. While not Georgia law, the trend matters. States are increasingly regulating what landlords can charge upfront and during tenancy. Athens landlords should review their lease fee structures proactively. Georgia remains landlord-friendly, but the national regulatory direction is clear. (Midland Daily News)
Mortgage industry cost-per-loan hit $11,094 in 2025, up 57% from $7,046 in 2015. HousingWire's analysis argues this is not just a volume problem; it is a structural inefficiency problem. Lenders stacked technology on top of unchanged processes without redesigning workflows. For Athens loan officers: expect lender fees to remain elevated. Buyers should shop across lenders aggressively, because origination cost structures vary widely. (HousingWire)
FICO 10T and VantageScore 4.0 adoption is accelerating. Both models incorporate trended credit data rather than point-in-time snapshots, and the industry is debating alternative data sources (rent payments, utility records, cash flow). For Athens agents working with first-time buyers or thin-file borrowers (common in a college town), connect them with lenders already using these newer scoring models. Rental payment history could help qualify buyers who would have been declined under legacy scoring. (HousingWire)
Severe storms in Indiana displaced 1,000+ residents and caused $5B+ in estimated losses. While not Georgia-specific, the story highlights property management risks during extreme weather events, including power outages delaying showings, tenant displacement, and flooding from high water tables. Athens property managers should review insurance coverage and emergency response plans before hurricane season peaks. (HousingWire)