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C.A.R. analysis finds presidential elections have little impact on California housing market

Prospective home buyers want current presidential candidates to address housing affordability

LOS ANGELES (June 21) – Presidential elections have historically had little or no negative impact on the California housing market, according to findings by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

"Transitory political events such as presidential elections don't drive the housing market," said C.A.R. President Pat "Ziggy" Zicarelli. "Market fundamentals such as housing inventory, affordability, interest rates, job growth, and consumer confidence are the real factors that influence the housing market."

In an analysis of home sales dating back to 1990, the average growth in home sales during an election year is usually either slightly higher or lower each month than in non-presidential election years. Notably, sales growth is rarely negative during an election year, and there is no evidence of a systematic negative impact on home sales or prices stemming from election season. In fact, C.A.R. found that growth in home sales at the end of an election year actually outperforms non-election years by 7.1 percentage points.

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Realtor Party News

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  Celebrating Home Ownership Through Advocacy

National Home Ownership Month is a good time to reflect on our commitment to helping others realize the American dream of real property ownership. Our job as REALTORS® goes beyond listing and selling property. We protect and promote home ownership and property interest in real and tangible ways through the REALTOR® Party. readmore

Puerto Rico REALTORS® Pull Out All the Stops to Fight a Tax on Services and Win

The REALTORS® of Puerto Rico are no strangers to challenge, with a higher than average unemployment rate and foreclosures up almost 90 percent since 2008. But the 350-member association stepped up in a big way, successfully leading the fight to repeal a 10.5 percent tax on services that was going into effect.readmore

by the numbers

 

 

800mil The estimated number of urban dwellers who are practicing some form of backyard farming. Backyard or urban farming has become a significant part of modern living, especially in the U.S. Find out what's driving this renewed interest in growing food and the laws of backyard farming in the latest Hot Topic Alert.readmore

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SAY IT THE REALTOR WAY® WITH CARmojis!

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Each year, in association with C.A.R.'s annual consumer advertising campaign, C.A.R. provides tangible tools to help members share their expertise with clients.

This year, as an extension of the campaign, C.A.R. is offering yet another free member benefit – the first-ever REALTOR®-centric emoji keyboard for members to download to their smartphone.

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Market Snapshot

C.A.R.'s Market Snapshot is the latest downloadable market analysis, automatically customized with your contact information, for you to share with your clients. The Market Snapshot is designed to keep you and your clients up-to-date on the latest real estate market conditions. 

market snapshot

You may download your copy of this month's Market Snapshot with your profile information on it by clicking on the articles below. or Click Here to learn how to personalize your market snapshot

September Pending Sales & Market Pulse Survey

California pending home sales a mixed bag in September, C.A.R. reports

Central Valley and Bay Area regions move higher, Southern California records drop

LOS ANGELES (Oct. 22) – Pending home sales results varied across California in September, decreasing statewide and in Southern California, but increasing in the Central Valley and San Francisco Bay Area, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. All regions recorded year-over-year improvements, though.

In a separate report, California REALTORS® responding to C.A.R.'s September Market Pulse Survey saw an increase in sales with multiple offers compared with August and an increase in all cash purchases. However, floor calls and open house traffic declined, reflecting seasonal factors as the market enters the end of the home-buying season. The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS®, which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

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