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April 24, 2026
Today: 30-year fixed rates dropped to 6.23%, South Carolina ranks among the hardest hit states for foreclosure activity, and Lake Murray turnkey properties are closing near full asking price.
Mortgage rates continue their retreat for the third consecutive week, with the 30-year fixed rate falling to 6.23%, down 7 basis points from 6.30% last week (Freddie Mac, RISMedia). This marks the lowest point since mid-March, offering breathing room for Richland County buyers who have been sitting on the sidelines. Purchase applications jumped nearly 8% last week in response to lower rates, but economists warn that volatility will persist throughout spring due to elevated oil prices and economic uncertainty from Middle East tensions. The decline in the 10-year Treasury yield is driving the improvement, but buyers remain highly sensitive to even small fluctuations. For agents working the spring market, this window matters. Lock in buyers now before geopolitical disruptions reverse the trend.
Buyer confidence remains fragile despite improving conditions. Pending home sales were down year over year in March even though rates are lower than this time last year, according to University of Michigan consumer sentiment data. Inventory is finally improving nationally, giving buyers more options, but home builder confidence dropped this spring as suppliers face increased material costs driven by higher fuel prices. The Coldwell Banker 2026 Home Shopping Season Report found that 80% of agents say their buyers are actively purchasing and not waiting for rates to fall further, with only 20% reporting buyers sitting on the sidelines (RISMedia). The lock-in effect is loosening. 35% of sellers currently working with Coldwell Banker agents hold a mortgage rate below 5% and are listing anyway, driven primarily by life circumstances rather than market timing. 36% of agents say clients are listing due to personal necessity. For the Columbia market, this means more inventory should flow into the pipeline as sellers accept the trade-off of losing low rates for necessary life transitions.
South Carolina ranks among the highest foreclosure filing states nationwide, with the state appearing alongside Florida as among the hardest hit (Mecklenburg Times, MSN). This aligns with national foreclosure auction data showing activity returning to pre-pandemic norms. Completed foreclosure auctions in Q1 2026 reached 66% of their Q1 2020 level, up 33% year over year, while scheduled foreclosure auctions climbed to 69% of Q1 2020 levels (HousingWire). The bid-to-title (BTA) rate edged down to 26.2%, but remains 14% higher than a year ago, indicating investors are still taking a larger share of properties to title. For Richland and Lexington County investors, this represents opportunity, not crisis. The data suggests a gradual, systemwide return of distressed inventory rather than a sudden spike. REO auction sales rates increased 12% quarter over quarter and 36% year over year, likely reflecting lower seller pricing. Contact your investor clients now. Foreclosure and REO inventory is rebuilding in a pattern that points to continued normalization with more predictable flows. Competitive intensity at REO auction improved from late 2025, with average bidders per REO auction increasing to 2.7, up 8% from Q4 2025. Servicers and investors should fine-tune strategies at the metro level rather than rely on a single national playbook, as buyer demand and price tolerance vary widely by metropolitan area.
Colliers South Carolina closed the sale of the Berkeley Building, a 76,596-square-foot office property in Center Point Office Park at 200 Center Point Circle, with Henry Roe and Allen Wilkerson representing the seller (Columbia Star). The transaction moved 200 Center Point LLC to Lexington Health LLC. No pricing was disclosed, but the deal signals continued investor interest in Lexington County medical office properties with established tenant bases. For commercial brokers working the medical sector, proximity to growing suburban healthcare infrastructure remains a value driver in the Midlands.
Student housing continues to attract institutional capital, though not locally. Knighthead Funding provided a $39.75 million refinance loan for Stadium Crossing, a 226-unit, 734-bed student housing development near Indiana University's Memorial Stadium (Commercial Observer). The deal closed on strong occupancy history, consistent cash flow, and proximity to campus amenities. For Columbia agents working the USC student housing market, the Indiana transaction provides a comparable data point. Institutional lenders are willing to refinance stabilized student housing assets at strong leverage when occupancy and cash flow are demonstrated. USC's enrollment growth and proximity to Fort Jackson PCS cycles position off-campus housing near campus and Five Points as long-term plays for local developers evaluating similar structures.
A Virginia homeowner is suing Bank of America and an appraiser for racial discrimination after an initial appraisal valued her investment property at $135,000, while a subsequent second appraisal came in at $208,000, more than 50% higher (RISMedia). The lawsuit alleges intentional discrimination under Fair Housing laws, civil rights statutes, and the Equal Credit Opportunity Act (ECOA), and seeks $250,000 in damages. The homeowner claims the bank shuffled her between four loan officers and engaged in unprofessional treatment before ultimately rejecting her loan application. She then immediately secured approval from Guild Mortgage with minimal hassle after the second appraisal. Appraisers have often argued that differences in appraisals can be explained by technical nuances rather than bias, but the impact of race-based discrimination in lending and appraisals is well documented in data. For Columbia agents and appraisers, this case is a compliance reminder. Document appraisal methodology thoroughly, ensure comparables are defensible, and treat all clients with professionalism. Fair housing violations carry significant financial and reputational risk.
The National Association of Home Builders (NAHB) applauded a letter signed by 76 representatives calling for removal of Section 901 from the Senate-passed 21st Century ROAD to Housing Act (NAHB). Section 901 mandates the forced sale of single-family build-to-rent (BTR) housing, applying a mandatory seven-year divestiture requirement and sweeping definitions of "purchase" and "investment control." NAHB estimates single-family housing starts may drop by 40,000 units per year as a result of this mandate, with the Urban Institute warning it could decrease the number of rental units built each year by at least 72,000. The letter stated the provision would exacerbate the housing affordability crisis by severely curtailing the production of BTR housing nationwide. For Columbia developers and investors, this federal legislative fight matters. If Section 901 survives bicameral negotiations, it will directly impact the feasibility of purpose-built single-family rental developments in Richland and Lexington Counties. Watch for updates as the bill moves to conference. The outcome will determine whether BTR remains a viable asset class or gets legislated out of existence.
A Lake Murray turnkey home sold for near its original asking price, signaling continued demand for move-in-ready waterfront properties (Post and Courier). No pricing details were disclosed, but the transaction reflects the premium buyers are willing to pay for finished, furnished properties on Lake Murray. For agents working the Chapin, Irmo, and Lake Murray submarkets, turnkey presentation and waterfront access remain strong value drivers. Buyers are not waiting for rates to fall further if the property meets their criteria. Stage properties to show finished lifestyle value, not potential.
The 31st Annual Columbia International Festival drew 20,000 attendees to the South Carolina State Fairgrounds April 18-19, celebrating French-speaking nations with 119 countries or territories represented as national and cultural exhibitors (Columbia Star). Festival director Raj Aluri noted that 10% of Midlands residents are foreign-born, with approximately 100 languages spoken in central South Carolina. This demographic diversity matters for real estate professionals marketing to immigrant communities. Multilingual marketing materials, culturally informed buyer consultations, and partnerships with international community organizations can unlock underserved buyer segments. Columbia's multicultural composition is a market differentiator.
The Town of Irmo renamed Irmo Town Park to Whitt Cline Community Park, honoring the retired public services director and arborist who served the community for 25 years (Columbia Star). Irmo received its first Tree City USA designation in 2009 under Cline's leadership, a distinction the town has maintained every year since. For agents marketing Irmo properties, the town's commitment to green space, parks, and urban forestry is a lifestyle selling point. Highlight proximity to community parks and the town's Tree City USA status when working with buyers prioritizing outdoor amenities and environmental stewardship.