#United States #Sacramento #homeownership #California REALTORS #Housing Policy

California Association of Realtors Launches Homeownership Matters Campaign

The California Association of Realtors® (C.A.R.) has initiated a pivotal campaign known as 'Homeownership Matters' designed to prioritize homeownership as a fundamental element of California's housing strategy for 2026. As lawmakers gather to shape the next year’s agenda, this campaign is geared towards advocating for effective legislation that opens up pathways to homeownership for working Californians.

C.A.R. President Tamara Suminski expressed optimism about the increased attention that policymakers and industry players are giving to housing issues, highlighting the pressing need to expand homeownership initiatives. “Expanding homeownership opportunities must be a central priority of the housing agenda,” she stated. The campaign aims to educate, engage, and mobilize policymakers toward adopting bold solutions that facilitate access to homeownership, particularly for first-time buyers who are currently struggling in a challenging market.

Homeownership is widely recognized as a vital driver of inter-generational wealth. Over the last 33 years, Californians who own homes have accumulated an average net worth of approximately $165,000 per person, compared to a mere $6,000 for those without ownership. However, the current reality is alarmingly stark. Four in five California households find it beyond their means to purchase a median-priced home, and the income required for first-time buyers has nearly doubled in recent years, escalating from less than $70,000 to over $130,000. Moreover, the price of owning a single-family home has surged by 24% in the past five years, now costing about $884,000.

This tightening grip of unaffordable housing is pushing many essential workers, such as teachers and healthcare providers, to either leave the state or face lengthy commutes simply because they cannot afford to reside in the communities where they work.

Suminski pointed out the larger implications of limited homeownership, warning that the vitality of California’s future is compromised when skilled professionals cannot live in the areas they serve. “California's long-term vitality is at risk when the educators, protectors of communities, and caregivers are priced out,” she asserted.

Homeownership does not only cultivate stronger communities but also bolsters the state's economy. It attracts businesses, enhances customer bases, and drives new investments that fuel local economies across California. On average, the sale of a single home generates a staggering $233,500 in economic output and provides three job opportunities.

As the campaign rolls out, C.A.R. emphasizes that now is the time to act to build a brighter future for California. “If lawmakers genuinely desire to maintain California as a land of opportunity where families can thrive, then facilitating access to homeownership is paramount,” said Suminski.

For more resources and information on the Homeownership Matters campaign, visit homeownershipmattersca.com.

About the California Association of Realtors

Leading the charge in California real estate for over a century, the California Association of Realtors® (C.A.R.) stands as one of the nation's largest state trade associations, boasting 190,000 members dedicated to enhancing professionalism within the real estate industry. C.A.R. operates from its headquarters in Sacramento, continually striving to advocate for both the interests of realtors and the housing market as a whole.