Do Elections Shape Housing?

Do Elections Shape Housing?

We are exactly one week from the much anticipated election day, a milestone many Americans are looking forward to. For one reason, some buyers, sellers, and even real estate agents believe an election year plays a part in the housing market. A recent Press Democrat article reads, “Sonoma County’s housing market sees third straight drop in new listings.” The article goes on to speculate why that might be the case, this being an election year included among the reasons, “Sellers this year also seem affected by doubts on such matters as the outcome of the U.S. presidential election…”

So is there any truth to the general consensus that an election year affects housing?

In a recent C.A.R. analysis of home sales dating back to 1990, C.A.R. found that the average change in home sales during an election year does not follow a particular pattern. Notably, sales growth is rarely negative during an election year, and there is no evidence of a systematic negative impact on homes 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.

On a monthly basis since 1990, California home sales contracted by roughly 2 percent during the last four months of the year. However, during the last 5 election cycles, sales in the final months of the year picked up, rising by 5.3 percent on average compared with 1.8 percent during non-election years.

Source: How Elections Shape Housing, California Real Estate August 2016

how elections shape housing

 

The post Do Elections Shape Housing? appeared first on Terra Firma Global Partners.

Source: Terra Firma

Rock the Vote!

Rock the Vote!

Public Service Announcement brought to you by C.A.R. Newsline…

REGISTER BY OCT. 24 TO ROCK THE VOTE! 

Did you know more than 36,000 REALTOR® members in our state are not registered to vote? This year is an election year, with the upcoming presidential election on Tuesday, Nov. 8, 2016. If you’ve moved or need to vote by mail, you can easily register online. Permanent absentee is the easiest way to vote; your ballot arrives by mail and you can vote at your convenience.

Voter registration forms are available at your association office. Your registration must be postmarked or submitted electronically no later than Oct. 24, 2016. If you are enrolled in California’s confidential address program, Safe At Home, please do not apply to register to vote using this site. Contact the Safe At Home program toll-free at (877) 322-5227 or by the Safe At Home email.

Getting involved is key to protecting the issues important to our industry. When REALTORS® are engaged in the electoral process, elected officials listen to our concerns.

Register online to vote and Rock the Vote on Nov. 8!

The post Rock the Vote! appeared first on Terra Firma Global Partners.

Source: Terra Firma