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Today: Freddie Mac 30-year fixed hit 6.71% (highest in 2026), national foreclosure starts rose 18% but remain 38% below 2018 levels, and investor home purchases continue declining as cash buyers retreat from the market.
Mortgage rates climbed to 6.71% for the week ending September 3, marking the highest level in 2026 and the fourth consecutive week rates exceeded year-ago levels, according to Realtor.com's weekly outlook. The recent escalation in Middle East tensions fueled much of the rise. For Richland County buyers already stretching to meet the local median around $434,000 (national figure), this rate environment means monthly payments are roughly $200-250 higher than they would have been at 6.0%. Adjust pre-approval conversations now; many buyers who qualified 60 days ago no longer do at 6.71%.
National existing home sales fell 1.7% in July to 4.06 million annualized, even as the median climbed 2% year-over-year to $434,000 - the 37th consecutive month of annual gains. The takeaway for Columbia: the summer peak likely passed in June or early July. Expect slower transaction velocity through fall, particularly for listings priced above local median. Price cuts are trending up nationally; prepare sellers for longer DOM (Days on Market) and the likelihood of at least one reduction if initial pricing is aggressive.
Foreclosure starts rose 18% in the first half of 2026 to 227,000 properties nationwide, according to ATTOM Data Solutions. Before you get excited: that's still 38% below 2018 levels (362,000) and less than 14% of the 2010 peak (1.65 million). The headlines sound dramatic, but foreclosure inventory remains historically tight. For Columbia investors hunting distressed deals, this means modest new supply - not a flood. Focus on tax sale lists from Richland and Lexington counties, probate leads, and expired listings instead of waiting for a wave that isn't coming. The best deals are still coming from motivated sellers and off-market sourcing, not courthouse steps.
Investor activity is cooling nationally. Cash buyers are retreating, competition is down, and affordability is catching up with mom-and-pop buyers. BiggerPockets reports that well-priced, turnkey homes are still moving in a week or two, but anything priced like it's 2022 sits indefinitely. That pattern applies to Columbia's rental market: properties priced at market with realistic ROI assumptions will move; anything with fantasy cap rates or deferred maintenance won't. If you're advising investor clients, stress underwriting discipline and skip the deals that only work with 2022 appreciation assumptions.
FSBO.com launched PACT, a digital offer-to-contract platform that lets buyers, sellers, and agents negotiate terms online from initial offer through signed agreement. The system handles counteroffers, contingencies, and best-and-final rounds in one interface and generates a final memorandum of understanding with full negotiation history. For Columbia agents, this signals continued pressure to digitize transaction workflows. Buyers expect the ease of clicking a button to make an offer. If your brokerage still relies on emailed PDFs and manual re-signatures, you're competing with platforms that don't.
Regulators are tightening rules around listing accuracy. The Real Estate Council of Ontario issued four discipline decisions this spring against agents who failed to independently verify square footage and lot size, with fines in the thousands plus mandatory CE. Multiple MLSs have tightened their own rules, and tax assessor data is increasingly flagged as unreliable for listing purposes. For South Carolina agents: measure every listing using ANSI Z765 standards, document it, and never copy square footage from tax records or prior MLS listings without independent verification. SCREC (South Carolina Real Estate Commission) hasn't issued guidance yet, but the trend is clear - listing misrepresentation is no longer treated as an innocent mistake.
AI-generated and heavily edited listing photos are drawing regulatory attention. California now requires agents to disclose digitally altered photos and provide unaltered versions to buyers; Wisconsin passed similar legislation. NAEBA warns that virtual staging and photo editing cross a line when the "net impression" suggests a property is materially different than reality. For Columbia listings: brightening a dim room or removing clutter is standard practice, but swapping flooring, altering paint colors, or changing what's visible through windows risks misrepresentation claims. Disclose any material digital alterations in writing and keep unedited originals on file.