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April 8, 2026
Today: 30-year fixed rates edged down to 6.51% but volatility looms with tonight's Iran ceasefire deadline. Florida and Arizona markets show 44% of listings with price cuts, a signal that overpriced inventory corrects fast when buyers stay disciplined. Multifamily construction financing remains available for workforce housing, with Orange County closing $144M and Brooklyn securing $170M for rental projects.
Mortgage rates showed marginal improvement this week, with the 30-year fixed declining to 6.51% from 6.57%, down 6 basis points according to MBA data. HousingWire's rate center reported 6.52% for conforming loans, up 38 basis points from the early March low of 6.14%. FHA loans at 6.21% remain roughly 30 basis points cheaper than conventional, giving first-time buyers in Columbia a financing edge if they qualify. Source
The Iran conflict continues to drive rate volatility. Tonight's 8 p.m. ET deadline for ceasefire terms could trigger major swings in bond markets and mortgage pricing. If tensions escalate, expect rates to spike again. If a ceasefire holds, spreads could tighten and rates could drop 20-30 basis points within days. Watch Wednesday's rate sheets closely. Source
Purchase applications fell 7% year-over-year for the first time since January 2025, signaling buyer fatigue at current rate levels. Refinance activity dropped to its lowest level since December 2025. The takeaway for Richland County: buyers who were waiting for sub-6% rates are sitting out, and your listings need to be priced for the 6.5% reality, not the 6% hope. Source
National inventory growth has slowed to 4.67% year-over-year, down from 33% at the 2025 peak. Price-cut percentages nationally stand at 34.4%, but Florida (43.6%) and Arizona (44.6%) lead the country with nearly half of all listings reducing prices. Columbia inventory is tighter than these Sunbelt overheated markets, but if you have listings that have been sitting 60+ days, it is time to reprice. Buyers know when something is stale. Source
A housing market crash remains unlikely despite rate volatility. Distressed seller inventory is the missing ingredient for a crash, and weekly new listings are running 250,000 to 400,000 units below 2007-2011 levels. Even if rates hit 7%, nominal price declines are improbable without forced sales. Expect stagnation and slow price appreciation, not collapse. For Columbia agents: this is a grind-it-out market, not a panic market. Source
South Carolina property tax rates remain low at 0.49%, fifth-lowest in the country. On a $300,000 home in Richland County, that translates to roughly $1,470 annually versus $5,640 in New Jersey or $2,330 in New York. Use this in buyer consultations, especially with relocating clients from high-tax states. It is a closing argument when affordability is tight. Source
Luxury home thresholds (90th percentile) fell 2.9% nationally to $1.25 million, while ultraluxury (99th percentile) dropped 3.7% to $5.75 million. Days on market for entry luxury increased to 61 days, up 2 days year-over-year. Lake Murray and Blythewood luxury inventory should be priced to reflect slower absorption. If you have a $1M+ listing, expect 60-90 days to close unless it is exceptional. Source
Distressed property investors are increasingly bearish on home prices, with 43% expecting declines in 2026, the highest share since Auction.com began tracking in 2022. A record 31% also expect rents to fall, signaling caution on both sides of the housing ledger. Southeast buyers were most pessimistic, with 42% forecasting rent decreases. For Columbia landlords and fix-and-flip investors, this means conservative underwriting. Do not assume double-digit rent growth or quick appreciation. Source
Despite the bearish outlook, 73% of Southeast distressed buyers plan to increase purchases in 2026, the highest share of any region. This creates opportunity for Columbia wholesalers and investor-focused agents. Distressed buyers expect further softening, but they are still buying. Focus on foreclosures, tax sales, and expired listings where sellers are motivated. Price reductions and off-market deals will move faster than fresh MLS listings priced at peak. Source
Multifamily construction financing remains available for workforce and rental housing. Affinius Capital closed $144 million for a 408-unit project in Orange County, California, with completion scheduled for October 2028. The project includes studios and one- and two-bedroom units near mixed-use retail. Source
MF1 Capital provided $170 million to refinance a 354-unit Brooklyn apartment project at 2366 Bedford Avenue, replacing a prior $140 million construction loan. The project received a 35-year tax credit under the former 421a program, with a portion designated as affordable housing. For Columbia developers eyeing multifamily, the message is clear: lenders are writing checks for workforce rental projects with defensible rent comps and realistic absorption schedules. Source
TruAmerica Multifamily closed a $708 million workforce housing fund targeting affordable rental apartments nationwide. The fund is the company's second and fits the firm's mission of producing affordable workforce housing. TruAmerica is the 24th-largest multifamily owner and operator in the U.S., with a platform touching 16 states and 30 major markets. If you have investor clients looking at workforce housing in Columbia, this is where institutional capital is flowing. Source
RET Ventures launched the first AI-native accelerator for multifamily proptech startups, focusing on marketing and leasing technology. The first cohort includes Brightplace, an AI apartment search platform, and LeasingAI, which optimizes property visibility across generative search engines like ChatGPT and Gemini. As AI-powered search replaces traditional SEO, Columbia landlords and property managers should ensure their listings are optimized for generative engine results, not just Google. Source
Steadily was named the preferred landlord insurance provider for Real Property Management franchise owners, a network covering residential rental properties nationwide. The partnership aims to streamline insurance for landlords managing single-family and small multifamily portfolios. Columbia property managers should evaluate whether their current landlord insurance policies offer competitive rates and coverage for liability, loss of rent, and property damage. Source
Rent Manager was selected by Roots Management Group as their new property management software, signaling ongoing consolidation and technology upgrades in the PM space. Columbia property managers handling 50+ doors should evaluate whether legacy spreadsheets and manual processes are costing them time and tenant retention. Modern PM software handles maintenance requests, rent collection, and lease renewals with fewer missed payments and faster turnaround. Source
California introduced Assembly Bill 2252, which would allow mid-rise apartment buildings up to six stories with a single staircase instead of the current two-stairway requirement for buildings taller than three stories. Seven states passed similar legislation in 2025, and Culver City became the first California municipality to legalize six-story single-stair apartments. Proponents estimate construction cost reductions of 6% to 13%. South Carolina has not introduced similar legislation, but if California and other states demonstrate cost savings without compromising safety, expect the concept to reach SCREC discussions within 18-24 months. Source
The International Code Council will hold public comment hearings on proposed building code changes beginning April 19 in Hartford, Connecticut. The 2024-2027 code development cycle is the first to use a combined Public Comment Hearing under the ICC's revised process. NAHB encourages members to attend or watch the webcast to inform their actions during voting and later code adoption. Changes to building codes directly affect construction costs and affordability. Columbia builders and developers should monitor these hearings and coordinate with SCREC-connected code officials to ensure South Carolina adoption aligns with affordability goals. Source
NAHB reports that builders are responding to affordability challenges by adjusting costs and designs. 64% of builders offered sales incentives in 2025, and 37% cut prices. Median home size in 2025 was 2,155 square feet, unchanged from 2024, as builders focus on smaller, more affordable homes. Builders are also adding drop zones (57%), flex/multipurpose rooms (50%), and EV charging stations (40%) to meet buyer preferences without expanding square footage. For Columbia agents working with new construction, highlight these features as value-adds that do not inflate price. Source
President Trump's proposed 2027 budget seeks nearly $11 billion in cuts to HUD programs, including elimination of the Community Development Block Grant program, the Home Investments Partnerships Program, and homeless assistance programs. The budget is not legally binding, and congressional appropriators will make final spending decisions. However, if even partial cuts are enacted, Columbia nonprofits and affordable housing developers relying on federal funding should begin exploring alternative financing and private capital sources now. Source
True Footage raised a $40 million Series C round to expand its staff appraiser model and data analytics platform. The company uses W-2 staff appraisers and proprietary software to improve appraisal quality and turn times, addressing longstanding complaints about subjectivity and inconsistent valuations. With the Uniform Appraisal Dataset 3.6 update mandated for conventional loans starting November 2, 2026, lenders and agents should expect faster, more standardized appraisals. For Columbia transactions, this means fewer appraisal delays and more data-driven valuations, which could reduce negotiations over appraisal gaps. Source
DataTrace released a white paper on AI's role in title search, concluding that while AI can improve speed and workflow efficiency, accurate title search still depends on normalized data, title plant infrastructure, and validation processes developed over decades. The paper warns that a 1% variance in data accuracy applied to 5 million transactions could create up to 50,000 instances of inaccurate title. For Columbia agents and closing attorneys, the message is clear: AI can accelerate title work, but human expertise and verified data remain essential to prevent costly title defects. Source
RISMedia's 2026 Power Broker Report found that affordability challenges have overtaken lack of inventory as the biggest challenge to business for the first time in nine years. Despite this, 51% of top brokerages described current market conditions as balanced/healthy, a marked change from the past three years. The survey was conducted in January and February, before the Iran conflict escalated. For Columbia brokers, the takeaway is that the market has normalized, but affordability remains the gating factor for transactions. Focus on creative financing, down payment assistance, and first-time buyer programs to keep deals moving. Source
Columbia Real Estate Brief is published daily at carolinacleartech.com/columbia-real-estate.
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