The Impact of Presidential Elections on California's Housing Market
ELECTION YEARS HAVE MINIMAL IMPACT ON CALIFORNIA'S HOUSING MARKET
Although the upcoming U.S. presidential election has caused some economic uncertainty in recent months, it shouldn’t have a huge effect on California’s surging housing market if past years are any indication.
In a recent analysis, the California Association of Realtors examined home sales volume and price growth in election years compared with non-election years since 1990. If anything, presidential races boost California home sales, with transactions averaging 7.1 percent higher in election years than in non-election years.
The same basic trend holds up when it comes to statewide home price appreciation. During the past five presidential election years, price growth has slightly exceeded the long-term average of 5.6 percent.
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