Get tomorrow's brief in your inbox
Today: Median list prices fell 2.4% nationally for a ninth straight month while homes sold faster, the 21st Century ROAD to Housing Act cleared Congress with zoning reform and LIHTC expansion that could unlock Midlands multifamily deals, and AI adoption among buyers hit 82%, reshaping how Columbia agents compete for clients.
National prices drop for ninth straight month; Columbia agents should watch local comps closely. Realtor.com's July data shows the national median list price fell 2.4% year over year, with price per square foot down 2.0% across 34 of the top 50 metros. Pending sales rose for an eighth consecutive month (+1.3% YoY), though momentum cooled from May's +4.1%. Homes are selling slightly faster than last year despite mortgage rates pushing toward 2026 highs after oil crossed $100/barrel on renewed Iran tensions. The South saw price cuts decline compared to last July, suggesting Midlands sellers may have already adjusted. Action item: pull your Richland and Lexington County DOM and price-cut percentages from MLS this week and compare against the national 20.0% price-cut share. If local cuts are running below that, your sellers still have relative pricing power. Source
Freddie Mac rates due Thursday, jobs report Friday. Realtor.com's weekly outlook flags mortgage rates (expected August 6) and the Employment Situation report (August 7) as the two data points that will set the tone for August showings. The FOMC held steady last week with three dissents under Chair Warsh, signaling internal debate about the rate path. For Columbia buyer consultations this week: lock discussions should wait until Thursday's rate print. If rates hold near current levels, purchase power remains compressed but stable. If they tick higher on oil-driven inflation, expect another round of buyer hesitation. Source
ROAD to Housing Act creates new multifamily tools; watch for local zoning reform incentives. Congress passed the 21st Century ROAD to Housing Act, which removes regulatory barriers to homebuilding and incentivizes localities to reform zoning rules blocking missing-middle housing (duplexes, triplexes, small multifamily). The law also expands the Low-Income Housing Tax Credit (LIHTC), the primary production tool for affordable rental housing. For Columbia investors: this is a medium-term catalyst. Richland County and the City of Columbia could access new Community Development Block Grant (CDBG) allocations under a revised formula (Realtor.com is publishing details August 5). Developers considering infill projects near USC or along the Bull Street district should track whether Columbia opts into the zoning reform incentives. The LIHTC expansion could make workforce housing pencil in submarkets where the math has been marginal. Source
Reverse mortgage demand growing among aging homeowners. Supreme Lending's John Luddy reports that high home values and expanding product options make reverse mortgages viable for more seniors. Columbia's aging-in-place population in established neighborhoods like Forest Acres, Shandon, and Dentsville represents an underserved segment. Property managers advising older landlords who want to stay in their homes but need cash flow should consider referral relationships with reverse mortgage originators. Luddy's key point: only 2-5% of eligible homeowners are currently served, largely because trusted advisers (including property managers) don't raise it as an option. Source
82% of buyers and sellers already use AI in their home search. A Realtor.com survey found that the vast majority of consumers use AI assistants to research neighborhoods, compare values, and gather market data before contacting an agent. Some are asking AI to recommend agents directly. Columbia agents who have no online presence beyond MLS are increasingly invisible to this buyer cohort. The practical takeaway: AI tools summarize publicly available information, so agents with detailed market commentary, neighborhood guides, and consistent content will surface in AI-generated recommendations. Agents who rely solely on referrals without a digital footprint are ceding ground. Start by ensuring your recent transaction data, specialties, and market knowledge are reflected in your public profiles and website. Source