Get tomorrow's brief in your inbox
Today: 30-year fixed hit 6.46% (seventh-month high), March inventory climbed 8% nationally with sellers pricing more realistically, and student housing construction starts showed strong momentum for 2026.
Mortgage rates climbed to 6.46% this week, the fifth consecutive weekly increase and a seven-month high, driven by ongoing conflict in Iran roiling financial markets. The recent rate surge translates to roughly $115 more per month compared to just 30 days ago (calculated on a 10% down payment at March's median home price). Source, Source
Despite rate volatility, actual daily rates are better than weekly survey averages suggest. Mortgage News Daily reported rates hit a long-term high March 27th but have moved noticeably lower since, with today bringing lenders to the lowest levels since March 18th. The weekly surveys average five business days with a reporting lag, so headlines can mislead when rates improve mid-week. If you quoted a buyer on Monday, re-run the numbers before Thursday closings. Source
March housing data showed balanced national conditions with home prices flat or falling year-over-year in 34 of the 50 largest metros. The national median dropped 2.2% to $415,450. Sellers are adjusting expectations to current conditions, giving buyers more negotiating power than they have had in years. This shift partly offsets affordability pressure from higher rates. Active listings grew 5.4% month-over-month and 8.1% year-over-year, with new listings surging 21.2% month-over-month. National inventory is now only 13.8% below pre-pandemic levels. Source
The Case-Shiller Home Price Index for January showed prices growing only 0.9% year-over-year, the weakest start to a year since the early 2010s. NAR's affordability index improved slightly, with a family earning median income able to qualify for a mortgage on the median-priced home (assuming 20% down) in three out of four census regions. Geopolitical uncertainty could keep buyers on the sidelines as the spring market gains momentum. If the Iran conflict resolves quickly, expect rates to drift lower. Source
Student housing construction started strong in 2026, according to Building Design + Construction. This signals continued confidence in the off-campus segment despite enrollment volatility at many universities. For Columbia, USC enrollment trends directly impact demand in Five Points, the Vista, and neighborhoods near campus. Source
Fort Jackson military housing demand follows PCS (Permanent Change of Station) cycles. Spring and summer typically see peak turnover as personnel rotate in and out. Contact military-focused property managers now to identify upcoming vacancies and understand rent ranges for different housing allowance tiers.
Dominion Energy expanded its Neighborhood Energy Efficiency Program (NEEP) to the Dentsville area of Columbia. Approximately 2,300 income-eligible customers are receiving free energy assessments and installations (LED bulbs, low-flow fixtures, HVAC filters, weatherstripping, smart power strips). For rental property owners, this reduces utility costs for tenants and can improve retention. Program installations run through end of May. If you manage rentals in Dentsville, verify tenant eligibility and coordinate access. Source
AMAROK, LLC announced a $69 million expansion in Richland County with a new headquarters facility creating 296 jobs. Large-scale employment growth signals increased housing demand. Track where the facility will be located and identify commute-friendly rental inventory or build-to-rent opportunities. Source
SCDOT is holding a public meeting April 9th at Fair Lawn United Methodist Church regarding a proposed intersection improvement project in Richland County. The project includes bridge replacement and roadway reconstruction to meet current design and safety standards. Road improvements increase property values in surrounding areas and can unlock development sites previously constrained by poor access. Attend the meeting or submit comments through April 30th to understand impact zones. Source
Lake Murray luxury market remains active. A $1.8 million listing on Lake Murray gives new meaning to horsing around, according to the Post and Courier. High-end lakefront inventory continues to attract buyers seeking recreation properties and primary residences. Chapin, Irmo, and Lexington County lakefront submarkets remain strong. Source
Three Notch'd Brewing Company and Craft Kitchen opened in the BullStreet District. The BullStreet District continues to add amenities and retail, increasing residential appeal for the mixed-use development. Track lease-up rates and rent comps for nearby multifamily. Source
Commercial insurance premiums have surged nationwide, with multifamily costs up 75% since 2019. Insurance now accounts for roughly 8% of apartment building operating expenses, nearly double the share from five years ago. For Richland County operators managing tight margins, this is crowding out capital improvements and deferred maintenance. Sophisticated property owners are exploring captive insurance structures (protected cell captives) to retain underwriting profits and stabilize costs. If you are spending $1 million+ annually on commercial hazard and general liability, investigate alternatives to traditional commercial carriers. Source
Multifamily sale activity remains strong in comparable markets. Spring Woods Apartments, a 174-unit newly constructed community in Salem, Oregon, closed for $39.3 million ($225,862 per unit). The property was built in 2025, went under LOI within days of launch, and moved through a clean closing process. Newly built, well-located multifamily assets continue to attract private and institutional capital despite rate headwinds. For Columbia landlords, this underscores continued demand for quality inventory. Source
When locking mortgage rates, timing matters. Most locks last 30, 45, or 60 days. Shorter locks are cheaper but riskier if closing delays. Longer locks cost more or come with slightly worse pricing. Match your lock period to expected closing timeline. If rates drop after locking, you typically do not get the lower rate unless your lender offers a float-down option (usually with conditions like a minimum 0.25% drop, one-time adjustment, and possible fees). If rates drop significantly after closing, refinance later. Source
Buyers deciding between finding a real estate agent or lender first should typically do both around the same time. Start with a lender if your priority is understanding your budget. Start with an agent if your priority is understanding the market and available homes. You will likely commit to an agent before touring homes (via buyer's agency agreement) but can continue shopping lenders until you formally apply for a mortgage. Many agents have trusted lenders they work with frequently who may offer better loan terms. Source
NAR Chief Economist Lawrence Yun noted that potential housing demand has been rising, but actual home sales are 1 million fewer than demand would suggest. With continued growth to housing affordability, some pent-up demand could begin to translate into actual sales. February existing-home sales increased 1.7% to a rate of 4.09 million, a modest improvement reversing January's 8.4% fall. Pending home sales for February also rose 1.8%. The spring housing market start has been delayed, with sellers holding off on listings and buyers questioning timing. Source
Eddie Wilder of ERA Wilder Realty in Columbia was named the first-ever recipient of ERA Real Estate's new Spirit of ERA Award Honoring Jeff Riber. Local recognition for Columbia market professionals. Source
Ryan McCue was named vice president at Colliers South Carolina. Colliers remains active in the Midlands market for commercial transactions and property management. Source
April is National Safe Digging Month. Before excavation work on residential jobsites, contact 811 a few business days before every dig. Confirm all utility companies have responded by marking your site or clearing your ticket. Physically inspect for above-ground signs of unmarked underground utilities (pedestals, manhole covers, meter boxes). Protect utility markings (flags, stakes, paint) and request remarks if unclear. Use hand tools or vacuum excavation within the tolerance zone to safely verify utility locations. Backhoes cause the most damage to underground utilities. Striking underground utility lines leads to injuries, project delays, and service disruptions. More than 550 incidents occur daily in the U.S. Source
April is New Homes Month. NAHB provides a toolkit with customizable materials to promote new construction benefits to buyers (social images, press releases, talking points, consumer articles). Two free virtual Shop Talks for members: "One Team, One Experience: Turning Spring Traffic into Sales" (April 2, 1 PM ET) and "Inside the Funnel: Marketing Strategies That Move Buyers to a 'Yes'" (April 28, 1 PM ET). Source