Dear Member,

Please see the update from C.A.R. regarding the State sexual harassment training, and the latest news.

Please note, the MCAR office will be closed November 26-27th in observance of Thanksgiving.

It is important for your members to be up-to-date and compliant with California law. As a result of Senate Bill 1343, mandatory Sexual Harassment Prevention Training will be required by January 1, 2021!

The deadline is fast approaching and if your member is a supervisor or an employee, training will be required to stay compliant with the state. Click below to sign up and start training.
To check if a member is required to take this training, or for more information on Sexual Harassment Prevention Training, click below.
NAR Extends Code of Ethics Application to Hate Speech
On November 13, the NAR Board of Directors voted to make some significant changes to its professional standards policies. The changes went into effect immediately upon enactment by the Board.

C.A.R.’s Legal Team created this FAQ about the revision. 
California Homebuying Season Extends into Fall
Continued record low mortgage interest rates sustained California’s housing market in October as home sales and prices took a breather from September’s record high levels and still recorded double-digit increases from a year ago, according to C.A.R.’s latest sales and price report. 
Deadline Nearing for Harassment Prevention Training
California’s Sexual Harassment Prevention Training is required for many in the workplace by January 1, 2021. As a result of Senate Bill 1343, supervisors and non-supervisor employees may be required to complete Sexual Harassment Prevention training (and is also recommended for sales agents). 
Resources Available for Mortgage and Financial Assistance
As the global pandemic continues to affect the lives and livelihoods of many of the nation’s families, organizations across the country are working hard to help Americans protect and manage their finances.
Federal agencies like CFPB and HUD and FHFA have created resources to share and to encourage people who are struggling financially as a result of the pandemic to take control of their mortgage loans and request forbearance.
COVID Housing Market Update
California’s housing market remains on an unseasonably strong tear as home sales and prices remain elevated in October. In fact, C.A.R. is likely to revise its recent projection for 2020 even higher based upon the outlook for closed sales in the final two months of the year given a shrinking percentage of transactions falling out of escrow. The amount of uncertainty impacting the market has also been shrinking over the past three weeks as fewer buyers and sellers back out of deals. Meanwhile, the macroeconomic progress continues while rates remain near all-time lows and buyer demand remains strong as 2020 appears poised to end on a high note for housing.
Share of First Time Buyers Reaches Highest Level in 10 Years
Record low interest rates have been fueling the market and many first-time buyers took advantage of cheaper costs of borrowing during this year’s home buying season. The share of first-time buyers reached the highest level in 10 years this past summer, with nearly two of five (38.4 percent) homes being sold to buyers who purchased for the first time. This year’s spike was also attributed to the fact that fewer homeowners (i.e. repeat buyers) have been putting their house on the market and moving during the pandemic. The momentum of the demand from first-time buyers will likely ease going into the fall season, however, as tight supply continues to put upward pressure on home prices and negatively impact housing affordability. Check out the latest motiongraphic video and share it with your clients.