Industry 360°

Housing Market Forecast

Following modest gains in home sales in 2016, California’s housing market will post a nominal increase in 2017.

Data & Statistics

View the latest sales and price numbers. Find out where sales will be in upcoming months.

Housing Matters Podcast

The all-new Housing Matters Podcast is your housing hub for market analysis, economic trends, and housing news.

Stay Connected

Stay connected with the latest releases by subscribing to the products and services that interest you.

Interactive Market Stats

Gain insights on California's housing market through interactive dashboards. Select your metrics and see where the data takes you.

Speeches & Presentations

From outreaches to webinars, the Research and Economics team is sharing their insight on the market and the economy.

Surveys & Reports

Californians are surveyed annually to gain insights on the housing market from their persepective.

Market Minute - April 11, 2017

Get a roundup of weekly economic and market news that matters to real estate and your business.

Model MLS Rules/Materials

California Model MLS Rules, Issues Briefing Papers, and other articles and materials related to MLS policy.

Code of Ethics Violators

Summaries and photos of California REALTORS® who violated the Code of Ethics and were disciplined with a fine, letter of reprimand, suspension, or expulsion.

Statewide MLS Initiative

An explanation of C.A.R.'s position on MLS consolidations in general and a statewide MLS in particular.

NAR Code of Ethics

The most recent edition of the Code of Ethics and Standards of Practice of the National Association of REALTORS®.

Professional Standards Materials

The California Professional Standards Reference Manual, Local Association Forms, Interboard Arbitration Rules, and other materials related to Code of Ethics enforcement and arbitration.


C.A.R. advocates for REALTOR® issues in Washington D.C., Sacramento and in city and county governments throughout California.

PACs and RAF

CREPAC, LCRC, IMPAC, ALF and the RAF comprise C.A.R.'s political fundraising arm.

Politics and You

Learn how you can make a difference, by getting involved yourself or by passing along valuable information to your clients.

Recent Laws

Summaries of legislation and regulation effecting REALTORS® and updates on news relevant to REALTORS®.

Real Estate Cases and Other Legal Resources

Important industry cases, resources and information


Current legal developoments, C.A.R. legal products and services.


Market Minute - April 11, 2017

What is This?
Add a quick link to this page from the Homepage when you are signed in
Share Article

Housing/Real Estate Market

No effect from Tax Reform on home prices-
Corelogic reports a study concluding that the TCJA has not affected home prices. The tax bill implemented tax changes that in aggregate increased household aggregate income (which should lead to more housing consumption) while implementing some changes that increased the cost of owning versus renting, these effects appear to have had no effect over the period studied. Future studies may look at the slowing effect on prices in specific upper-middle price segments ($750k – $1.5M), in high price states where buyers received fewer tax cuts but have incurred higher housing related tax changes.

Macro Economy

Job openings and unemployment at all-time highs but positive indicators are flattening.
Bureau of Labor Statistics’ JOLTS reported that the economy had 6.1 million job openings – still record levels but as the last month. The quit rate another indicator of economic strength -  how secure workers feel about getting a new job after quitting, has also been flat for the last 3 months at 2.2% of workers (or 3.2 million total quits). In general, data suggests slack remaining in the labor market as the Fed moves towards more restrictive monetary policy.

Inflation is holding flat: caused by drops in gas prices. 
Department of Labor reports that the Urban Price Index for (CPI-U) decreased 0.1 percent in March on a after rising 0.2 percent in February. The drop was mostly driven by a large decrease in gas prices: the index for all items without food and energy increased 0.2 percent in March.  

Meanwhile, consumers expect no change in inflation and slight downturn in economic prospects.
Surveyed consumers believe that inflation will remain stable. The Survey of Consumer Expectations reports that they believe inflation will be at 2.8 percent in the short term and 2.9 percent in the medium term, the same as reported previously. Business expectations about inflation are also flat: the Federal Reserve Bank of Atlanta reports that businesses are expecting 1.9 percent inflation in one year, unchanged from previous quarter.  Consumers were slightly less optimistic about labor markets: their expectations have worsened about future income growth, the unemployment rate, and the chance of losing one’s job.

Real Estate Finance

Mortgage rates remain at bottom of March/April levels: the 30 year fixed is at 4.5%.
Mortgage News Weekly reports that rates bounced up a bit after a slight fall. Meanwhile the Mortgage Bankers Association Weekly Survey also reported that mortgage applications decreased 1.9 percent from last week, but remain 5% higher than from this same point last year. Refinance shares of total applications are down to their lowest levels since September 2008.


Top Searches