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July 9, 2026
Today: Mortgage rates climbed to 6.68% (matching 10-month highs), homes sold faster year-over-year for the first time since April 2024, and landlord-tenant laws are reshaping rental markets nationwide. Columbia area investors should watch for similar legislative pressure on rental operations.
The 30-year fixed rate hit 6.68%, matching its second-highest level in more than 10 months as Iran conflict tensions resurged. The only higher level this year was 6.75% on May 19th. Most analysts don't expect rates to break 7% this year despite the conflict, as mortgage spreads have improved significantly and Fed Chairman Kevin Warsh has stated policy is too restrictive for housing growth. Columbia area buyers waiting for rate relief should adjust expectations: the new base range appears to be 6.50%-6.75%. Mortgage News Daily | HousingWire analysis
Homes nationally spent one less day on market than they did a year ago for the first time since April 2024, ending five consecutive weeks of parity. This is notable after a prolonged stretch of slower sales. Inventory held above 1.1 million active properties for the third straight week, the longest such streak since mid-2025. Asking prices fell 2.3% year-over-year, consistent with recent trends, while the share of listings with price reductions dropped below 7%. For Columbia area agents, this suggests the market is stabilizing after months of softness. Consider reaching out to buyers who paused their search in Q1 to see if the improved inventory and stable pricing warrants reengaging. Realtor.com Research
Residential construction employment continued to decline, shedding 48,800 jobs nationally over the last year, marking the 15th consecutive annual decline. Despite nationwide losses, residential construction remains a significant source of employment in rural and smaller-market counties where home building accounts for a greater share of total employment than it does nationally. Columbia's suburban markets (Chapin, Irmo, Blythewood) and Lexington County likely fall into this category. Local agents should monitor permit activity and new development announcements closely, as any further slowdown in building activity will directly affect inventory levels 12-18 months out. NAHB Now
Building permit activity across multiple markets is worth monitoring for comparables and trend analysis. Pickerington, Ohio approved $6.8 million in new commercial permits, while Cedar Rapids filed permits for a third data center project. Syracuse received a $1.5 million HUD grant to pilot AI analysis of blueprints and building permits. While these aren't Columbia deals, the use of AI for permit processing signals a trend that may reach South Carolina municipalities within 18 months. Local investors tracking commercial zoning changes or multifamily development approvals should consider whether SCREC or county planning departments will adopt similar technology, potentially accelerating or complicating approval timelines. Lancaster Eagle-Gazette | WSYR
Sacramento region new home sales rebounded to pre-pandemic levels, a positive signal for residential construction activity. While Sacramento's market differs from Columbia's, the rebound suggests buyer demand is stabilizing in markets with strong employment and in-migration. Columbia area agents should compare local sales velocity and inventory trends to determine whether a similar rebound is underway or if the market remains softer. The Business Journals
Sedano's Supermarkets purchased one of the retail centers it anchors in Miami-Dade County for $32 million, representing the latest example of grocery store chains buying out their landlords. Publix has spent more than $400 million on similar acquisitions since 2023. For Columbia area commercial agents, this trend signals an opportunity: if you represent retail centers anchored by grocery stores or other national tenants, reach out to those tenants directly to gauge interest in acquiring the property. Tenant buyouts eliminate vacancy risk and can close quickly if the tenant already operates profitably at the location. Commercial Observer
Kolter Group and Rockpoint secured $107.8 million in construction financing from PNC Bank for a 432-unit multifamily project in Palm Beach Gardens, Florida. The project will replace a mobile home park with a five-story garden-style development. Separately, S3 Capital provided $111 million for a 36-story, 328-unit luxury multifamily tower in Miami's Edgewater neighborhood. Both deals highlight continued multifamily construction financing availability for strong sponsors in supply-constrained submarkets. Columbia area multifamily developers should note that construction lending remains accessible for projects with clear demand fundamentals, particularly in submarkets near USC or Fort Jackson. Commercial Observer | Commercial Observer
An extended-stay hotel in Arlington, Virginia sold for $35 million and will be converted back into a 180-unit apartment building. The property was originally built in 1963 as an apartment complex but changed to a hotel in the 1980s. The conversion extends GoodHomes Communities' strategy to reposition aging hospitality assets into multifamily housing. Columbia area investors should identify underperforming extended-stay or limited-service hotels near USC or Fort Jackson that could convert to workforce housing. Conversion projects may qualify for advantageous financing or zoning treatment compared to ground-up development. Commercial Observer
Landlord-tenant laws are reshaping real estate markets nationwide, according to a National Association of REALTORS analysis. The most significant impact is on rent-regulated markets like New York City, where operating expenses continue rising while rental revenue remains frozen. The article demonstrates that even debt-free, tax-exempt buildings eventually lose money if expenses compound annually while revenue does not. Columbia area landlords should monitor legislative activity at the state and local level for any proposals that would limit rent increases, impose additional maintenance obligations, or expand tenant protections. If rent control proposals emerge in South Carolina, engage with SCREC and local real estate associations immediately to provide economic analysis showing the long-term impacts. NAR | Commercial Observer
The Consumer Financial Protection Bureau is seeking public input on whether mortgage disclosure requirements and TRID rules should be revised to reduce compliance burdens and improve access to credit. The RFI specifically covers integrated mortgage disclosures, right of rescission for refinance transactions, and reverse mortgage disclosure requirements. The comment period offers an opportunity for Columbia area lenders and mortgage brokers to provide specific examples of how current rules increase costs or delay closings. If you've lost deals due to disclosure timing requirements or tolerance thresholds, document those cases and submit comments before the deadline. HousingWire
The Federal Reserve held interest rates unchanged at the June FOMC meeting, reflecting division among governors on interest rate adjustments. While the June vote was ultimately unanimous, the past few months have created a wait-and-see attitude among Fed members as they balance higher inflation against a relatively soft labor market. For Columbia area agents, this means the 6.50%-6.75% rate environment is likely to persist through Q3 2026 at minimum. Adjust buyer consultations and pre-approval conversations accordingly. RISMedia
Douglas Elliman launched a companywide technology transformation including a new AI-focused business unit called Elius, powered by Google Cloud. The initiative aims to consolidate systems, automate operations, and develop real estate intelligence capabilities using proprietary luxury market data. Separately, a HousingWire analysis explains how top-performing real estate agents are winning AI recommendations through Answer Engine Optimization (AEO) and Generative Engine Optimization (GEO), structuring their digital footprint so ChatGPT and Google AI will recommend them when buyers search for local agents. Columbia area agents should audit their Google Business Profile, ensure NAP (name, address, phone) consistency across all platforms, and add an AI Info Page to their website specifically for large language models to read. Agents who optimize for AI recommendations now will capture leads from buyers using ChatGPT and Gemini for agent referrals. HousingWire | HousingWire