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June 20, 2026
Today: National housing starts dropped to pandemic levels as multifamily construction slows sharply, the 21st Century ROAD to Housing Act advanced in the Senate 87-8, and home flipping returns edged up to 25.4% even as activity declined quarter over quarter.
Housing starts fell to the lowest level since 2020 as residential construction activity slows nationwide. Multifamily construction posted sharp declines in May, dragging overall starts down despite modest growth in single-family permits. Housing Starts Fall as Multifamily Construction Slows Sharply in May, US Housing Starts Fall To Lowest Level Since 2020, Housing starts sink to pandemic levels as builders worry about inflation For Columbia builders, this signals tightening capital for multifamily projects. Watch for delayed apartment development in the Vista and Bull Street districts. Single-family permits remain the safer play in Richland and Lexington counties until financing conditions improve.
Homeowners tapped $47 billion in equity nationally in Q1 2026, with home equity lines of credit (HELOCs) and home equity loans accounting for 54% of withdrawals. Nearly two-thirds of second-lien borrowers have mortgages originated between 2020 and 2022 at rates in the 3% to 4% range. Homeowners tapped $47 billion in equity in the first quarter Columbia homeowners sitting on low-rate mortgages can access equity without refinancing. Position HELOCs for home improvements, college costs, or investor down payments. The Columbia median home price hasn't been released for May, but national data shows modest year-over-year gains, keeping equity available for tapping.
Home flipping activity declined to 64,348 units nationally in Q1 2026 (8% of all sales), down from 69,711 in Q4 2025. Gross returns improved slightly to 25.4%, up from 24.7% in Q4, but still below the 29.6% recorded in Q1 2025. Gross profits increased to $66,000, up from $64,300 in Q4 but trailing the $74,172 figure from Q1 2025. Home flipping slowed in early 2026 but investors saw returns tick up Spartanburg, South Carolina posted one of the highest flipping rates in the country, signaling strong investor activity in the state. Columbia investors should focus on the $100,000 to $200,000 price tier, which produced the strongest typical returns at 32%. Properties under $50,000 posted a 14% loss. Cash purchases accounted for 61.1% of flipped homes. The market is rewarding discipline. Buy right, not just cheap.
Bankruptcy filings increased 11% in 2025, reaching more than 574,000 filings nationwide. Homeowners facing bankruptcy may explore a sale to reduce debt or avoid foreclosure, but many file under Chapter 13 repayment plans specifically to keep their property. How Agents Can Ethically Approach Bankruptcy Seller Leads Columbia agents should slow down the conversation with bankruptcy leads. Focus on what the homeowner is trying to accomplish, not the property. Research ownership history, estimated equity, liens, and local market conditions before reaching out. Many homeowners in financial distress still have substantial equity. Avoid assumptions and lead with education, not urgency.
Building permit guidance matters for investor rehabs and owner improvements. Permits are required for structural work (walls, beams, floors), electrical rewiring, plumbing changes, HVAC installs, additions, and major renovations. Some projects that live in the middle include window replacements (if changing size), roof replacement (if altering structure), detached sheds (depends on size, utilities, distance from property lines), retaining walls (often required if over 3 to 4 feet tall), hot tubs and pools (inground almost always), and solar panel installations (nearly always). Do You Need a Building Permit? Experts Weigh In Columbia investors and homeowners should verify which permits are required before construction begins and confirm who is responsible for obtaining them. One common problem is assuming a permit was obtained because the project has started, only to discover later that required trade permits were never issued or inspections never occurred. Finishing a basement, adding a secondary suite, or altering a deck can trigger permit requirements if they affect structure, plumbing, HVAC, drainage, life safety, or the use of a space.
Ohio is considering a bill that would update rules governing foreclosures, estate sales, and property appraisals. Under this bill, exterior-only appraisals of residential properties would be allowed. New provisions would also be introduced for public property auctions, such as a rule that private selling officers must be independent of the property's mortgagees and law firms involved in the property, and that online auctions must be open for bidding for at least three calendar days. Legislative Round-Up: ROAD to Housing Grows Clearer; New York Considers Longer Broker Supervision Period While this is an Ohio bill, watch for similar provisions to surface in South Carolina. Exterior-only appraisals could speed up investor acquisitions and estate sales in Columbia.
The 21st Century ROAD to Housing Act advanced in the U.S. Senate by a vote of 87-8. A roll-call vote is scheduled for Monday, June 22. The bill aims to spur more housing construction, with many changes to federal guidelines and local incentives. California is already preparing for the bill to pass and considering its own complementary legislation. Legislative Round-Up: ROAD to Housing Grows Clearer Columbia developers should track how South Carolina responds if this bill passes. The omnibus bill could unlock federal incentives for multifamily construction and mixed-use development. Contact local legislators to push for state-level complementary legislation similar to California's approach.
Texas secondary markets like Weatherford (average home price $350,000, homes selling in 2 to 3 months) are capturing buyer demand priced out of premium submarkets. Buyer behavior is concentrated between $350,000 and $850,000, with a strong emphasis on attainable family housing. Four rules for underwriting secondary Texas markets in a slower cycle Columbia is positioned similarly as a secondary market relative to Charlotte and Atlanta. Richland County's attainable pricing and USC student housing demand mirror Weatherford's fundamentals. Investors and builders should focus on attainable family housing in the $300,000 to $500,000 range in Lexington County (Chapin, Irmo) and Richland County (Blythewood, Northeast Columbia). Buyers are trading an extra fifteen minutes in the car for meaningful monthly savings.
Top 200 builders closed or completed more than 500,000 housing units in 2025. Nearly 95% of units were built for sale, while the share of built-for-rent units dipped to 5.4%, down more than 10% from the year before. Nearly one-third of builders (31%) reported government regulations as a top business challenge for 2026, up from just 10.5% in 2025. Among the Top 200 builders, nearly 85% of units were constructed in suburban areas. NAHB Members Featured Among Nation's Top 200 Builders Columbia's suburban markets (Lexington County, Blythewood, Lake Murray) align with where 85% of Top 200 builder activity is concentrated. Built-for-rent is declining nationally. Focus on for-sale single-family product. Government regulations are now the top business challenge for builders. Engage with SCREC and local planning commissions early in the entitlement process.
Technology is reshaping the rental market with seven key trends: virtual tours and remote leasing (tenants can tour and lease properties entirely online), AI-powered tenant screening (faster, more accurate background checks and risk assessment), smart home integration (keyless entry, smart thermostats, app-controlled utilities), online rent payment platforms (automated payments, late fee tracking, digital receipts), digital lease agreements (e-signatures, cloud storage, instant access), maintenance request portals (tenants submit and track requests via app), and property management software consolidation (single platforms managing marketing, leasing, payments, maintenance). Technology Impacts On Rental Market: 7 Key Trends Tenants Must Know Columbia landlords should adopt virtual tour and remote leasing tools to capture USC students and Fort Jackson military tenants relocating from out of state. Smart home integration (keyless entry for turnover efficiency, smart thermostats to control utilities between leases) reduces vacancy friction. AI-powered tenant screening speeds up placements in high-turnover student markets.
New York is considering a bill that would double the required supervision period to become a real estate broker from two years to four consecutive years. The alternative path (three years of equivalent experience in general real estate business) is left unchanged. Legislative Round-Up: New York Considers Longer Broker Supervision Period While this is a New York bill, watch for similar proposals in South Carolina. SCREC has not signaled any supervision period changes, but if New York's bill advances, other states may follow. South Carolina currently requires three years of experience or a real estate degree to qualify for a broker license.
Northwest MLS (NWMLS) is defending its countersuit against Compass in the Western District of Washington, urging the court to allow its fraud, Consumer Protection Act, and tortious interference claims to proceed. NWMLS contends that Compass submitted listings into the MLS database without material history reflecting that properties had already been available for purchase and had undergone private marketing, testing, and possible price changes. NWMLS Details Fraud, Consumer Protection Claims Against Compass in Private Listing Suit Columbia agents should watch this case closely. If NWMLS prevails, expect MLS policy changes around "Coming Soon" and "Private Exclusive" listings to tighten nationally. The core issue is whether listings can enter the MLS with artificially erased days-on-market history and suppressed exposure history. Appraisers and buyers rely on DOM (Days on Market) and price change history. Stripping that data distorts market transparency.
Zillow's 2026 Paint Color Analysis found that chocolate brown bedrooms could add approximately $2,277 to a home's offer price, while sage green ranked among the top-performing colors across every room evaluated. Dark and moody kitchens (charcoal gray, dark plum) generated some of the strongest buyer responses. Ochre yellow was the lowest-performing color overall, potentially reducing offers by as much as $18,164 when used throughout a home. Zillow Finds Retro Bedroom Color That Boosts Home Value Columbia sellers preparing to list should skip all-white walls in favor of sage green (performs well in every room) or dark moody tones in kitchens (charcoal gray, dark plum). Avoid ochre yellow, pale pink, and bright red. Consult a trusted agent before painting. Test the market with Zillow Preview to gauge buyer response before going active.
NAR continues its governance overhaul to strengthen member engagement, streamline committees, and improve operational efficiency. NAR Continues Governance Overhaul to Strengthen Member Engagement Columbia agents should track how NAR's restructuring affects local MLS governance and committee participation. Fewer committees, more focused engagement. If you serve on a committee, expect consolidation.
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