Get tomorrow's brief in your inbox
March 20, 2026
Today: National new home sales crashed 17.6% in January to the lowest pace since October 2022, median prices dropped 6.8% year-over-year to $400,500, and builders are leaning hard on incentives. South region sales are up 4.1% year-to-date, which includes Columbia, but weather disruptions and affordability pressures hit hard in the first month of the year.
National new home sales fell to a seasonally adjusted annual rate of 587,000 in January, down 17.6% from December and 11.3% year-over-year. NAHB reports this as the slowest pace since October 2022. Weather-related disruptions hit the Northeast and Midwest hardest, but the South region, which includes Columbia, still posted 4.1% year-to-date growth. The median new home price nationally dropped to $400,500, down 6.8% from a year ago. Builders are using price cuts and upgraded features to move inventory. Columbia builders should note that completed for-sale inventory nationally hit 126,000 units, the highest level since 2009, suggesting pressure to clear standing inventory.
Mortgage rates averaged around 6.1% in January according to the Freddie Mac Primary Mortgage Market Survey, providing modest relief. HousingWire notes demand remains subdued with a weak labor market and consumer uncertainty. The U.S. lost 92,000 jobs in February, adding pressure to buyer confidence. For Richland County agents, this means pre-qualifying buyers carefully and managing expectations on financing timelines. Higher-end buyers above $800,000 are showing resilience, while the $500,000-$700,000 segment is soft.
Inventory stood at 476,000 units nationally in January, representing 9.7 months of supply at the current pace. That is elevated compared to historical norms. Columbia's resale inventory has been tighter, but new construction supply should be monitored closely. If local builders are sitting on completed spec homes, expect incentive packages to expand through spring.
Building permits data is due Thursday, which will signal whether Columbia-area builders are pulling back on starts. National permit data revised slightly upward for January, but the trend is still downward. Watch Richland and Lexington County permit filings for February and March. If permit volume drops sharply, that signals builders expect continued softness and are throttling pipeline activity. For investor clients, this could mean negotiating leverage on new construction if builders need to move units.
No Columbia-specific foreclosure, tax sale, or price reduction data in today's feed. Use MLS expired and FSBO lists aggressively this week. National inventory pressure suggests motivated sellers may surface if listed properties sit.
No commercial lease, zoning, or cap rate data in today's articles. Focus on local sources and reach out to Richland County planning for any rezoning applications or development plan submissions. National softness in residential could push some investors toward multifamily or mixed-use as a hedge, especially near USC and Fort Jackson.
No NAR, SCREC, or fair housing updates in today's feed. National builder incentives are becoming standard practice, which affects comp analysis. Document all builder concessions when pricing listings, and educate buyers that advertised prices may not reflect net effective costs after incentives.
Note: Today's article collection was heavily national and light on Columbia-specific content. One local item on Lexington County spay/neuter funding is unrelated to real estate. Monitor local feeds more closely for Richland County inventory, permit, and pricing trends that directly impact your pipeline.