PRESIDENTIAL ELECTIONS HAVE LITTLE IMPACT ON CALIFORNIA HOUSING MARKET

PRESIDENTIAL ELECTIONS HAVE LITTLE IMPACT ON CALIFORNIA HOUSING MARKET

Presidential elections have historically had little or no negative impact on the California housing market, according to findings by C.A.R.

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.

In a separate poll by leading think tank The Futures Company commissioned by C.A.R.’s Center for California Real Estate, nearly three-fourths (70 percent) of survey respondents who plan to buy a home agreed that they would like the current presidential candidates to address how to make housing more affordable in their campaigns.

And, across all incomes, generations, and races/ethnicities, consumers were strongly in agreement that housing affordability should be a top priority on the presidential campaign trail as candidates make their pitches for ballots in the lead-up to the November contest.

 

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David Ray

About David Ray

David provides viable solutions for sellers, buyers, real estate agents and investors. His areas of expertise include residential, commercial, business and land development. The latest solution is helping sellers with "dated" houses renovate the property for zero cost. Through this solution the seller, the buyer and the community all benefit. After each project is completed, he helps provide thousands of meals to the local food bank.

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