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Saturday, April 12, 2026
Today: National inventory growth slowed to 3.21% year over year and may turn negative soon, new listings disappointed at 70,244 weekly (down from 76,271 last year), and price cuts dropped to 34.30% of listings.
National housing inventory is on the verge of going negative year over year for the first time since the rate surge began. Inventory grew just 3.21% year over year last week, down from a 33% peak in 2025. Weekly inventory rose from 723,460 to 724,977 (April 3-10), compared to 691,173 to 702,436 in the same week last year. The growth slowdown comes from hard comps and the lowest mortgage rate curve since 2022, with rates staying below 7% despite the Iran conflict pushing them from 5.99% to 6.64% recently. Read more
If you are sitting on listings hoping for more inventory competition to justify your pricing strategy, that window is closing. National data suggests tightening conditions ahead. For Richland County agents, this means advising sellers to price aggressively now while inventory is still up 3% rather than waiting for the seasonal peak that may not materialize. Review your active listings this week and recommend price adjustments where DOM is creeping past 30 days.
New listings continue to underperform expectations. Last week saw 70,244 new listings nationally, down from 76,271 in the same week last year. Easter timing affected the data, but the year has consistently missed the 80,000-100,000 weekly range that would signal a normalized market. Price cuts dropped to 34.30% of listings from 35% last year, indicating sellers are learning to price tighter upfront or pulling listings rather than chasing the market down. Read more
For Columbia agents, the lack of new listing flow means the spring inventory you have is the spring inventory you will get. Buyers waiting for more options in May-June may be disappointed. Shift your buyer consultations to focus on what is available now rather than advising clients to wait. This is especially relevant for the USC student housing market where off-campus leases typically lock in by late April.
Inheriting tenants with a property acquisition presents immediate rent adjustment and legal compliance challenges. When you acquire a rental with existing tenants, you inherit their lease terms unless you properly terminate and re-lease. Most landlords make the mistake of immediately raising rent to market without reviewing the existing lease termination clauses or state-required notice periods. The correct sequence is: review lease, issue proper notice (60-90 days in most states), document condition with photos and inspection reports, then present the new lease with updated terms. Read more
For Columbia landlords acquiring properties near USC or Fort Jackson, inherited tenant situations are common with turnover properties near campus or when military families PCS out. South Carolina requires 30-day notice for month-to-month tenancies but inherited leases often have their own notice terms. If you are buying a rental with tenants in place, request copies of all leases during due diligence, not at closing. Walk the units with the tenant present before finalizing the purchase. Condition issues that the previous owner ignored become your liability, and tenants will expect you to address them before accepting any rent increase. Price your acquisition assuming 60 days of below-market rent while you transition the tenancy properly.