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Today: South Carolina posted the nation's worst foreclosure rate in August, Magnus broke ground on a 227,000 SF industrial building at 803 Park, and national building permits fell 2.7% signaling continued construction headwinds.
National housing starts fell 2.6% in August to a seasonally adjusted annual rate of 1.275 million units, with building permits down 2.7% to 1.394 million. Single-family starts rose 7.6% month-over-month to 918,000, but year-to-date single-family starts are down 4.9% versus 2025. Reuters, RISMedia
For Richland County: This national pullback in permits signals tighter new-home inventory into 2027. Builders are squeezed by rising material costs, elevated construction financing, and buyer hesitation. NAHB economists now forecast single-family starts down 5.9% for 2026, with a further 4% decline in 2027. If you represent buyers waiting for more inventory, reset expectations. The new-home pipeline is shrinking, not expanding.
Mortgage rates hit 6.95%, the highest since January 2025, up 19 basis points week-over-week and nearly 100 basis points since the Iran war began in late February. Realtor.com, RISMedia
Pending home sales rose just 0.3% in August, still 4.7% below August 2025 levels. The South posted a 2.3% monthly gain but remains 3.8% down year-over-year. Realtor.com
Action: Advise buyers to lock in rates now if they're close to a decision. The Fed hiked another quarter point and signaled at least one more hike before year-end. Rates are not coming down soon. For sellers, the fall market typically favors buyers with peak inventory and softening prices. The "Best Time to Buy" window hits the first week of October. Price competitively now or expect to sit longer.
South Carolina posted the nation's worst foreclosure rate in August 2026. Greenville Business Magazine, FITSNews
This is the headline for Columbia deal flow. South Carolina's foreclosure rate is the highest in the nation. The Richland County and Lexington County markets are feeding into this statewide trend. Contact your investor clients now. Pre-foreclosure outreach, courthouse steps bidding, and REO acquisition pipelines are active. If you're not sourcing distressed deals, you're leaving money on the table.
Nationally, Florida, Texas, and California lead in foreclosure starts, but South Carolina's per-capita rate is worse. Realtor.com
Action: Pull Richland County and Lexington County foreclosure filings from SCREC public records. Build a pre-foreclosure mailing list. This is the time to position as the solution for distressed sellers.
Magnus broke ground on a 226,800 SF industrial building at 803 Park in Columbia. RE Business Online
This is a significant industrial development for the Columbia market. 803 Park is positioned for distribution and logistics. With Columbia's proximity to I-26, I-20, and I-77, plus Fort Jackson logistics demand, this signals continued industrial real estate activity in the Midlands. Watch for tenants and sale-leaseback opportunities as the project completes.
Action: If you represent commercial or investment clients, monitor this development for tenant announcements. Industrial cap rates in secondary markets like Columbia are compressing as investors flee higher-priced coastal metros.
Capital Insight acquired a 12-story Hudson Yards hotel property in foreclosure for $68-71 million. Commercial Observer This is a New York deal, but it illustrates the foreclosure auction opportunity nationally. Columbia has no comparable distressed hotel assets right now, but the playbook is the same: lenders becoming owners, cash-flowing assets at steep discounts.
Small multifamily (2-4 units) remains a strong investment class. BiggerPockets highlights duplexes, triplexes, and fourplexes as the "one type of real estate deal that always works" due to residential financing, lower risk, and steady cash flow. BiggerPockets
Action: Columbia's small multifamily market is undersupplied. USC student housing demand and Fort Jackson PCS cycles create consistent rental demand. Source off-market duplexes and triplexes in Shandon, Rosewood, and near Fort Jackson. You can finance with as little as 3.5% down using FHA loans on 2-4 unit properties.
Saluda Shoals Riverwalk opened August 19, connecting the Lexington and Irmo communities with neighboring cities including Columbia, West Columbia, and Cayce. Columbia Star Phase One is 2.5 miles of paved trail and boardwalk along the Saluda River. Phase Two will extend to Gardendale Landing. Phase Three will connect with the existing Saluda Riverwalk behind Riverbanks Zoo.
This trail network enhances livability and connectivity for the greater Columbia area, including areas near USC's campus and student housing corridors. Proximity to trails and outdoor recreation is increasingly a rental differentiator for student tenants and young professionals.
Main Street lighting project completed September 9. The Boyd Foundation and Main Street District installed circular lanterns and uplighting on Main Street from Gervais to Laurel Streets to enhance safety and aesthetics. Columbia Star
Action: Downtown Columbia improvements signal continued investment in the urban core. Student housing, short-term rentals, and mixed-use development near Five Points and Main Street should benefit from improved walkability and safety perception. If you represent student housing landlords, emphasize these amenities in marketing.
Property management faces five key challenges in 2026, including rising costs, regulatory compliance, tenant expectations, technology adoption, and staffing shortages. Southern Maryland Chronicle
This tracks with what Columbia property managers are seeing: insurance premiums climbing, tenant screening costs rising, and difficulty hiring maintenance staff. If you manage rentals in Richland County or Lexington County, budget for higher operating costs in 2027.
Action: Review your property management fees and expense structures now. If you haven't raised rents in the past 12 months, you're behind. Columbia metro rent growth is still positive but slowing. Lock in lease renewals early before tenants start shopping in the fall.
No Columbia-specific legal or regulatory updates today. National NAR and industry news did not surface Columbia or SCREC (South Carolina Real Estate Commission) developments.