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Today: 30-year fixed rose 3 bps to 6.58% with geopolitical tension killing any chance of a July rate cut, national new-home sales came in flat for June, and the City of Columbia is warning developers about fraudulent permit payment scams targeting the Planning and Development Services Department.
Mortgage rates hit 6.58%, highest since last August. The Freddie Mac 30-year fixed rose 3 basis points this week as U.S.-Iran tensions push oil prices higher, adding upward pressure on inflation. A July FOMC rate cut is effectively off the table. For Richland County agents: buyers already stretching at $250K-$350K price points are losing another ~$20/month in purchasing power. Adjust pre-approval conversations accordingly and push rate buydown options hard. The 15-year fixed is at 5.96%, now higher than a year ago. (Realtor.com, RISMedia)
New-home sales flat in June, pending sales declining. National new-home sales are tracking essentially flat with 2025. Zonda's chief economist calls 2026 a "flat to down year" with 2027 projected as "flat to up." The sub-$350K segment has been cut in half since 2019 (42% to ~21%), while above-$500K climbed from 29% to nearly 50%. For Columbia builders: the affordable segment that drives Lexington County subdivisions is being squeezed out nationally. If you're building under $300K in the Midlands, you have a structural advantage over Sun Belt competitors. Half of surveyed builders report higher incentives than a year ago. (Houston Agent Magazine, RISMedia)
Building permits decline less than forecast, signaling resilience. National permits came in above expectations despite the rate environment. Friday's data release will include June permits, PMI, and new home sales. Watch for South Carolina-specific permit data in the state breakdown; Columbia metro permit activity has been a relative bright spot compared to national trends. (Investing.com)
Luxury segment propping up the market. Economists note that wealthier households remain the most engaged buyers. Apartment lease renewals are near record highs, and large operators report record-low shares of residents moving out to buy. For Columbia: this K-shaped dynamic means the Forest Acres/Shandon/Lake Murray luxury segment ($500K+) is where transaction volume holds up, while first-time buyer activity in northeast Richland and Lexington corridors softens. Agents working the entry-level market should expect longer days on market and more concession requests. (RISMedia)
$153M tax-exempt CMBS affordable housing deal closes. Systima Capital closed a securitization backed by 1,272 LIHTC (Low-Income Housing Tax Credit) units across five states, with $1.2B in orders from 19 institutional investors. The deal signals growing institutional appetite for affordable housing credit. For Columbia investors exploring LIHTC projects: this structure could become more accessible as Systima scales the model. Affordable multifamily in Richland County qualifies for LIHTC given area median income levels, and institutional capital is now chasing these deals. (Commercial Observer)
$719M multifamily/student housing SASB CMBS deal priced. Nomura closed the largest sole-bank single-asset, single-borrower CMBS deal in two years, backed by 3,321 units including a student housing property at Utah Valley University. The AAA bonds priced at 135 bps over SOFR. For Columbia multifamily owners: CMBS appetite for multifamily and student housing collateral is strong. If you hold a stabilized 100+ unit property in the Columbia metro, CMBS refinancing at competitive spreads is viable. The Utah Valley student housing comp is directly relevant to USC-area portfolios. (Commercial Observer)
Colliers SC names new brokerage operations director. Lizzie Cook has been named director of brokerage operations for Colliers' four South Carolina offices. Steve Davis joins Central SC Habitat for Humanity as VP of construction. NAI Columbia added Drew Herndon as help desk coordinator. These hires signal continued CRE activity in the Midlands market. (Columbia Star)
First-time landlord pitfalls remain the top risk for Columbia rental investors. Comprehensive guidance on tenant screening, local landlord-tenant law compliance, and property preparation before listing. Key takeaway for Richland/Lexington landlords: South Carolina's landlord-tenant statute (SC Code Title 27, Chapter 40) has specific security deposit rules (no statutory cap, but must return within 30 days) and eviction procedures that differ from neighboring states. Screen consistently, verify income, and check previous landlord references before signing. Placing the right tenant beats placing the first tenant. (Redfin)
Hidden rental costs and insurance upgrades. Two national pieces worth passing to property managers: hidden costs of renting (utilities, HOA pass-throughs, lease renewal fees) and home upgrades that reduce insurance premiums (roof reinforcement, plumbing replacement, water leak sensors, electrical panel upgrades). For Columbia PMs: with insurance costs rising across South Carolina, especially in wind-prone zones, document any risk-reducing improvements and shop carriers annually. Water damage and fire risk are the two biggest claim drivers. (Redfin, Redfin)
Howard Hanna expands to 18 states via Portside partnership. The "powered by" affiliate model lets Portside keep its brand while accessing Howard Hanna's tech, marketing, and referral network, plus healthcare and 401(k) for independent contractor agents. This consolidation trend is relevant for SC independents: national scale increasingly matters for recruiting and retention. Watch for similar partnership announcements in the Southeast. (HousingWire)
Columbia Airport completes new U.S. Customs & Border Protection facility. The ribbon cutting on July 15 marks a significant infrastructure upgrade for Columbia Metropolitan Airport. For commercial RE: improved CBP facilities support international cargo and charter operations, which can drive warehouse and logistics demand in the airport corridor along I-26. (Columbia Star)
Melrose Market opens on Gervais Street. Grand opening at 2710 Gervais Street, Suite 300. New retail activity in the Gervais corridor supports the commercial revitalization narrative between Five Points and the Vista. (Columbia Star)