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July 16, 2026
Today: Mortgage rates dropped to 6.64% on softer inflation data, short sales accelerated 16% year-over-year in Q1 2026, and active inventory held above 1.1 million properties nationwide for the fourth consecutive week.
Mortgage rates fell to 6.64%, the lowest level in over a week, after both Consumer Price Index (CPI) and Producer Price Index (PPI) came in lower than expected. The dual inflation reports drove bond market rallies that pushed rates down 0.11% over two days. Mortgage News Daily. However, be aware that June's lower fuel prices drove much of this improvement, and July has already reversed that trend. Expect rate volatility as fuel costs shift month to month.
Active inventory nationally climbed 2.2% year-over-year and held above 1.1 million properties for the fourth consecutive week, the longest stretch since November 2019. New listing activity rose 2.4% year-over-year following the July 4th lull. Realtor.com Research. Median listing prices fell 2.3% year-over-year for the third consecutive week, while price reductions crossed 100,000 for the first time in 2026 as seasonal patterns returned post-holiday. Days on market matched last year's pace.
For Richland County, the national inventory expansion signals increased buyer leverage. Use these rate drops to reengage pre-approved buyers who stepped back when rates hit 6.75% last week. Frame conversations around monthly payment savings, not rate percentages.
Short sales are making a comeback after years of near-zero activity. Nearly 30,000 short-sale transactions occurred in 2025, accounting for 0.6% of all conventional sales and 28% of distressed sales. Short-sale volume accelerated 16% year-over-year in Q1 2026. Realtor.com Research.
Unlike foreclosures, which cluster in low-cost markets, short sales are rising fastest in midpriced markets like the West and Florida. Short sales now sell at a smaller discount than foreclosures for the first time since the 2008 financial crisis. The typical short-sale listing takes about two months longer to sell than a comparable home, reflecting the slow lender approval process.
For Columbia agents working with investors, short sales offer deal flow without the REO stigma. Homeowners who bought near the 2021-2022 peak with small down payments have the least equity cushion as insurance, property taxes, and mortgage rates strain budgets. Expect this trend to strengthen as affordability pressures continue. Target buyers who stretched in 2022 and are now upside-down as mortgage rates climbed. Advise investor clients that short sales require patience but avoid the auction competition of foreclosures.
Point closed a $508.6 million securitization backed by home equity investment (HEI) assets, marking the largest transaction in the HEI market to date. Funding costs declined significantly from Point's previous February securitization, with spreads narrowing by more than 220 basis points. HousingWire. More than 30 institutional investors participated, including eight first-time investors.
This signals growing institutional confidence in HEI as an asset class. For Columbia homeowners with significant equity but poor credit or DTI constraints, HEIs offer a path to liquidity without monthly payments. Familiarize yourself with Point and similar platforms if you're advising clients who can't qualify for traditional cash-out refis but need capital for home improvements or debt consolidation.
The 21st Century ROAD to Housing Act passed, removing provisions that would have imposed a seven-year sell-off requirement on build-to-rent (BTR) communities. This legislative uncertainty had frozen capital investment in new BTR projects for months. HousingWire. Investors are now placing capital back into BTR projects, with at least five projects representing 1,200 new housing units moving forward in the next 18-24 months.
For the Columbia market, expect renewed BTR development near Fort Jackson and USC to address military housing and student demand. Watch for land acquisitions in Blythewood, Irmo, and Chapin as BTR developers target suburban submarkets with limited apartment inventory.
Multi-generational living is driving buyer preferences toward homes with flexible layouts, separate living areas, and age-in-place features. Buyers increasingly prioritize dual primary suites, first-floor bedrooms with full bathrooms, and separate entrances over simple bedroom counts. Redfin Blog.
For Columbia landlords and property managers, this trend signals rental demand for larger single-family homes with split floor plans or finished basements. Aging parents moving in with adult children and adult children returning home create demand for homes that balance togetherness with independence. Market rental listings emphasizing privacy features like separate entrances, basement apartments, or ADUs to capture this segment.
Single-story homes are gaining market share in new construction nationwide. The share of new homes with one story rose from 47.5% in 2024 to 48.6% in 2025, driven by increased building activity in regions that prefer single-story homes. NAHB Now. The South Atlantic division, which includes South Carolina, still favors two-story homes (54.2%), but the single-story share is growing as developers focus on moderate and low-cost housing.
For Columbia buyers, single-story homes offer aging-in-place benefits and avoid stair-related accessibility issues. Expect continued buyer interest in ranches and one-level floor plans, particularly from retirees relocating to the Columbia area or military families at Fort Jackson prioritizing accessibility.
A federal indictment charged the former executive director of Georgia's Hinesville Housing Authority and a business partner with a $2.5 million fraud scheme using false invoices, kickbacks, and fraudulent payments over four years. HousingWire. The scheme involved directing payments under $5,000 to avoid detection and issuing fraudulent bonus payments.
This serves as a reminder to scrutinize affordable housing partnerships and property management relationships. Document all invoices and vendor relationships, particularly for publicly funded housing programs. SCREC enforcement actions targeting fraud in affordable housing are likely to increase as this case draws regulatory attention.
Florida Representatives Debbie Wasserman Schultz and Maria Elvira Salazar reintroduced the Making Condos Safer and Affordable Act, which would expand access to low-interest, government-backed loans for structural and life-safety work in condominium buildings. HousingWire. The bill would let condo associations spread repair costs over time instead of relying on large special assessments.
South Carolina has not enacted condo safety legislation comparable to Florida's milestone inspections or reserve study requirements, but the national trend toward condo safety reform suggests future legislative action. For Columbia agents representing condo buyers, confirm that associations maintain adequate reserves and disclose any pending special assessments or deferred maintenance before closing.
Russell Vought, acting director of the Consumer Financial Protection Bureau (CFPB), testified before the House Financial Services Committee defending workforce cuts and reduced enforcement activity. HousingWire. The CFPB Reform Act of 2026 draft proposes increasing congressional oversight, revising funding and governance, and raising the supervision threshold from $10 billion to $21 billion in assets.
Reduced CFPB enforcement may signal looser oversight of mortgage originators and servicers in the short term, but expect state-level enforcement to fill the gap. SCREC and South Carolina consumer protection agencies may increase scrutiny of mortgage practices as federal enforcement declines.