Get tomorrow's brief in your inbox
2026-04-30
Today: National housing starts jumped 10.8% in March to 1.5 million units, but permits dropped 10.8%, signaling builder caution. Mortgage rates spiked to 6.50% on geopolitical concerns. NAR's $52 million buyer settlement moves forward despite objections.
National housing starts surged 10.8% in March to a seasonally adjusted annual rate of 1.5 million units, the highest level since December 2024. Single-family starts rose 9.7% month-over-month to 1.03 million units, while multifamily climbed 13.3% to 470,000 units. HousingWire | RISMedia
The March spike is likely temporary. Building permits fell 10.8% to 1.37 million, including a 23.5% drop in multifamily permits and a 3.8% decline in single-family permits. Units under construction dropped 9.8% year-over-year, and completions fell 13.5%. This divergence between starts and permits signals that March's boost was weather-related catch-up from weak January and February activity, not sustained demand. For Columbia agents, this means national builders are pulling back on future projects. Watch local permit activity in Richland and Lexington counties for signs that Columbia builders are following the same pattern. If permits drop locally, expect fewer new listings in 6-9 months.
Mortgage rates jumped to 6.50% for top-tier 30-year fixed loans, up from 6.38% the previous day, driven by news of a potential prolonged blockade of the Strait of Hormuz. The Fed's announcement that three voters opposed dovish language in the policy statement added to the pressure. Most lenders issued mid-day rate adjustments higher as bond yields continued climbing. Mortgage News Daily
Expect buyer hesitation this week. Anyone on the fence about locking a rate will wait to see if this spike holds. For listings priced above $400K in the Columbia market, plan for extended DOM (Days on Market) unless sellers adjust pricing expectations. Contact pre-approved buyers immediately to discuss lock strategies before rates move higher.
Deed theft and fraudulent tax lien sales are spreading nationally. Fraudsters are filing forged deeds to transfer ownership of properties, particularly targeting vacant land, rental properties, and homes owned by elderly or out-of-state owners. In some cases, scammers are also creating fake tax lien sale notices to collect payments from property owners who believe they owe back taxes. BiggerPockets
For Columbia investors working foreclosures or tax sales in Richland and Lexington counties, verify every title before closing. Pull a current title report and check the South Carolina Secretary of State's records for recent deed filings. If you're sourcing deals from tax sale lists, confirm directly with the Richland County Treasurer or Lexington County Treasurer that the lien is legitimate. For clients with rental properties or vacant land, recommend they sign up for property alert services through the county recorder's office to catch fraudulent filings early.
A federal judge denied a request to block NAR's $52 million settlement in the Batton buyer lawsuit, one day after plaintiffs sought to halt the deal. Judge LaShonda Hunt ruled that the settlement process will move forward, with plaintiffs able to raise objections at a July hearing overseen by Judge Lindsay Jenkins in the related Tucorri case. The settlement would cover nearly every MLS, association, and brokerage from buyer claims, effectively ending the commission lawsuit saga. RISMedia
For South Carolina agents, this settlement is likely the final chapter in the buyer commission cases. The practice changes from the Burnett seller settlement already apply, so this settlement is about financial closure, not new compliance requirements. However, the July hearing could still derail the deal if Judge Jenkins finds it unfair. Continue using written buyer agreements and disclosing all compensation arrangements. If the settlement is approved in July, expect NAR to issue guidance on what this means for outstanding state-level cases, though South Carolina has not been a major litigation venue for these claims.