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Today: National inventory climbed to 743K homes with 35% taking price cuts, mortgage rates held steady at 6.29%, and a shopping center near Columbia sold.
National inventory rose 4.8% year over year to 743,006 properties, with new listings jumping 10.9% week over week to 77,919 homes. The median list price held at $445,000 nationally, down just 1.1% year over year, but 34.7% of listings have taken price cuts. Homes are sitting for an average 118 days (median 56 days), with buyers selective on pricing. Weekly Housing Trends
Mortgage rates finished the week at 6.29%, holding inside a tight 6.29-6.33% range for over a week. Pending home sales rose to 73,241, up from 71,775 a year ago, reflecting seasonal normalization rather than a demand surge. Rates remain focused on war-related developments and oil prices. Mortgage News Daily
The gap between rising inventory and anchored pricing is creating negotiation opportunities. Markets like Tampa and Phoenix show 48-50% of listings taking price cuts, while tighter markets like Columbus maintain faster movement for well-priced homes. For Richland County agents, this means pricing strategy now determines which homes transact and which require adjustment. HousingWire Market Analysis
Mortgage applications increased 7.9% week over week, with purchase applications up 10% and 14% higher than last year. The refinance share dropped to 44.2% of total applications, with FHA holding at 18.2% and VA declining to 15.0%. Demand is being supported by a resilient job market and higher inventory levels relative to last year. RISMedia MBA Report
Legacy Realty Group arranged the sale of an 86,650-square-foot grocery-anchored shopping center near Columbia. No pricing details were disclosed. This continues the trend of institutional capital targeting grocery-anchored retail in secondary markets. Shopping Center Business
DSCR loans are facing pressure as rental yields declined in 54.8% of analyzed U.S. counties in March. High home prices are compressing returns on paper even when deals make long-term sense. No-Ratio financing is drawing more attention for investors buying before rents are in place, refinancing to rehab, or replacing hard money with longer-term structures. This is relevant for Columbia's investor market, particularly for properties in transition or pre-lease-up. HousingWire DSCR Analysis
NAR released its first quarterly update on the 2026-2028 Strategic Plan, reporting that two-thirds of planned projects have been initiated. Key initiatives include enhanced dynamic dashboards for real-time market data, committee excellence programs, and Realtor brand positioning through social media campaigns. The plan encompasses 24 initiatives broken into 75 projects focused on growth, efficiency, and legal risk reduction. RISMedia NAR Update
FSBO.com launched a loan officer portal designed to integrate mortgage professionals earlier into for-sale-by-owner transactions. Over 300 loan officers from NEXA Lending signed up at $299/month, allowing them to assist sellers with listing creation, marketing, and buyer screening while guiding financing through closing. The platform is structured to connect sellers with agents when needed, with loan officers referring business to real estate agents rather than replacing them. This could shift FSBO dynamics in Columbia, particularly for loan officers looking to generate listing referrals. HousingWire FSBO Portal
The MBA's National Advocacy Conference brought 50 loan officers from 26 states to Capitol Hill for the first time in the association's 100-year history. They advocated for the 21st Century ROAD to Housing Act (passed Senate 89-10), moving away from tri-merge credit reports, and Basel III positioning. The shift signals growing grassroots advocacy from producers rather than just institutional voices. HousingWire MBA Advocacy
AI-driven fraud continues to reshape the risk landscape in real estate. The FBI's IC3 logged over 1 million cyber-enabled crime complaints in 2025, with losses exceeding $20.8 billion (up 26% from 2024). Real estate fraud led to 12,368 complaints and $275.1 million in losses. Business email compromise targeting wire transfers accounted for $3.04 billion in losses. Preserve original files in native format (full email files, not screenshots), document entire communication threads, and report rapidly to increase the likelihood of intercepting fraudulent transactions. HousingWire Fraud Prevention
Water Walk East development in Irmo is no longer moving forward. No details on revised plans were provided. This affects Lake Murray market expectations for new inventory. Post and Courier
Zoning reforms are gaining momentum nationally, with Illinois, Michigan, and Massachusetts all advancing housing supply legislation. Illinois Governor Pritzker's BUILD plan lifts restrictions on multifamily in some single-family zones and permits ADUs statewide. Michigan's Housing Readiness bills would reduce parking minimums, modernize lot-size rules, and expand accessory dwelling units, backed by the Home Builders Association. Massachusetts faces a November ballot initiative to cap rent increases at 5% or inflation (whichever is lower), opposed by the Massachusetts Association of Realtors and NAR. These reforms could signal future SCREC or state-level changes in South Carolina. RISMedia Legislative Roundup | HousingWire Michigan Zoning
NAHB and ICC released the ICC 700-2025 National Green Building Standard, the fifth edition of the nation's premier residential green building standard. The 2025 edition adds a new property certification path for existing multifamily communities, expanded resilience practices for natural disasters, low-carbon design practices, and alternative energy efficiency compliance options. This affects Columbia new construction and rehab projects seeking certification. NAHB Green Building Standard