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Today: National new home sales ticked up 1.6% in June to 628,000 SAAR but remain down 5.6% year-over-year, with median prices dropping to $398,300 as builders lean hard on incentives. Mortgage rates have climbed above 6.5%, hitting their highest since August 2025. Foreclosure activity is rising modestly but remains well within historical norms, not a crisis signal.
New home sales up slightly, but spring season disappointing. June new home sales reached a 628,000 seasonally adjusted annual rate, up 1.6% from May but down 5.6% year-over-year. The median new home price fell to $398,300, down 3.3% from May and 2.7% below last June. More than half of June sales landed below $400,000, and nearly a quarter came in under $300,000 (up from 16% a year ago). Builders are constructing smaller, cheaper homes and offering aggressive incentives; NAHB reports 62% of builders offered incentives in June. The South accounted for roughly 66% of all new home sales nationally, and South region sales are down 4.9% year-to-date. For Columbia-area agents: new construction is where the deals are right now. Buyers should be asking builders about rate buydowns and closing cost credits. Listing agents competing against new builds in Northeast Columbia or Lexington need to price accordingly or risk sitting. (HousingWire, Realtor.com, NAHB)
New home inventory elevated at 9.3 months' supply. 485,000 new homes sit available nationally, down slightly from May but still well above the balanced ~6 months. The number of unstarted homes for sale rose to its highest level of the year, nearly equaling completed inventory. Builders are pulling back on spec starts. Combined new and existing inventory is at 5.2 months' supply nationally, the highest since fall 2014. For Richland County, this means buyer leverage is increasing. Investor clients looking at new construction should negotiate hard on price and terms; builders would rather cut than carry. (Realtor.com, NAHB)
Mortgage rates at 11-month high. The 30-year fixed has climbed above 6.5%, the highest since August 2025, driven by renewed geopolitical tensions related to the Iran conflict. Despite the rate increase, mortgage applications ticked up as of July 24, and refinance activity picked up the week of July 17. For Columbia buyers on the fence: rates are not helping, but the combination of builder incentives and rate buydowns can effectively lower the cost. Agents should be running the math on buydown scenarios for every buyer consultation this week. (RISMedia)
Building permits beat expectations in June. Revised data shows US building permits fell less than initially estimated. While local Richland/Lexington permit data isn't broken out in today's feed, national permit resilience suggests builders still see demand worth building for, even at these rates. Watch the City of Columbia and Lexington County permit feeds for local confirmation. (TradingView/MarketScreener)
Foreclosures up year-over-year, but no crisis. ATTOM data shows foreclosure starts rose 21% year-over-year in H1 2026. FHA and VA loans are the pressure points: FHA's October 2024 loss mitigation rules are pushing more borrowers into trial periods, and the cancellation of VA's Servicing Purchase (VASP) program narrowed options for VA borrowers. That said, overall mortgage delinquency rates remain within the 1%-4% historical norm. Only 1.56 million active listings exist nationally versus 4 million in 2007, total LTV sits at 45.1% compared to 85% in 2008, and 40% of homeowners carry no mortgage at all. For Columbia-area investors watching for distressed deals: the uptick is real but modest. Monitor Richland County foreclosure filings for opportunities, but do not expect 2008-style volume. FHA-heavy neighborhoods near Fort Jackson may see slightly elevated activity. (RISMedia, HousingWire)
Berkshire Hathaway completes $6.8B Taylor Morrison acquisition. This consolidation of the homebuilding sector will reshape builder-broker financing relationships. For Columbia commercial brokers and multifamily investors: watch how integrated builder-lender models affect local new construction financing. If Taylor Morrison has projects in the Midlands pipeline, expect their sales process and preferred lender arrangements to shift. (RISMedia)
KKR considering sale of mortgage REIT. KKR Real Estate Finance Trust reported a net loss in Q2 2026 and is exploring a sale. This signals stress in commercial mortgage lending at the institutional level. For Midlands commercial investors using CMBS (Commercial Mortgage-Backed Securities) or institutional financing: underwriting standards may tighten further. Lock rates and terms when you can. (RISMedia)
Generational down payment data worth knowing. LendingTree data shows Millennials dominate mortgage shopping at 44.8% of inquiries with a $65,000 median down payment. Gen Z is at 19% of shoppers with $41,250 median down. For Columbia agents: your buyer pool skews Millennial and increasingly Gen Z. USC grads entering the workforce are your emerging first-time buyer segment. Tailor your marketing and pre-approval conversations accordingly. The $41K median Gen Z down payment is achievable for the $200K-$250K price points still available in parts of West Columbia and Cayce. (RISMedia)
Mortgage fraud guilty plea, a compliance reminder. A Florida case involving fabricated pay stubs to deceive banks into issuing Fannie/Freddie-backed mortgages resulted in a guilty plea. Standard reminder for Columbia originators and agents: verify income documentation thoroughly. SCREC takes referral-to-fraud seriously, and the current enforcement environment is active. (RISMedia)