{"id":75571,"date":"2026-11-10T14:14:56","date_gmt":"2026-11-10T22:14:56","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=75571"},"modified":"2026-11-10T15:03:14","modified_gmt":"2026-11-10T23:03:14","slug":"midterm-election-california-housing-market-impact","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/midterm-election-california-housing-market-impact\/","title":{"rendered":"California 2026 Election: How Buyers, Sellers, and Renters Are Impacted"},"content":{"rendered":"

California voters approved two major housing measures in the Nov. 3, 2026, midterm election, with the potential to expand homeownership opportunities and fund affordable housing.<\/span><\/p>\n

But what could these changes mean if you’re hoping to buy your first home, sell your current property, or simply find a more affordable place to live?<\/span><\/p>\n

Proposition 37 creates a new financing program for eligible buyers of newly built homes, while Proposition 1 authorizes billions in funding primarily for affordable rental housing, along with homeownership assistance and veterans’ loans.<\/span><\/p>\n

Meanwhile, several cities approved local measures that could change real estate transfer taxes, rental rules, and housing development.<\/span><\/p>\n

Here’s a breakdown of the California housing-related election results and how they could affect buyers, sellers, homeowners, and renters.<\/span><\/p>\n

Election note: Results remain unofficial until certified. California’s statewide election results are scheduled for certification on Dec. 11, 2026. <\/span><\/i>

<\/div><\/span><\/p>\n

California’s 2026 housing election results at a glance<\/b><\/h2>\n

Two statewide housing propositions passed, along with several local measures that could affect real estate transactions, housing costs, and development.<\/span><\/p>\n\n\n\n\n\n\n
Approved measure<\/b><\/td>\nWhat it does<\/b><\/td>\nWho could be affected<\/b><\/td>\n<\/tr>\n
Proposition 37<\/span><\/a><\/td>\nAuthorizes up to $25 billion in revenue bonds to finance second mortgages covering up to 17% of the purchase price of qualifying newly built or converted homes.<\/span><\/td>\nHomebuyers, renters hoping to buy, home sellers, builders, agents, and lenders<\/span><\/td>\n<\/tr>\n
Proposition 1<\/span><\/a><\/td>\nAuthorizes $11.25 billion in bonds for affordable housing development, preservation, and homeownership assistance programs.<\/span><\/td>\nRenters, prospective homebuyers, homeowners, and housing developers<\/span><\/td>\n<\/tr>\n
Local housing measures<\/span><\/td>\nChanges real estate transfer taxes, tenant protections, affordable housing funding, and development rules in certain communities.<\/span><\/td>\nLocal homeowners, sellers, renters, landlords, and investors<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The biggest question is how quickly these changes will reach consumers \u2014 and whether they could make buying a home more affordable or influence California’s housing supply.<\/span><\/p>\n

\n\n\n\n\n

\n
\n
\n \"homelight\n <\/div>\n \n

What's Your California Home Worth?<\/h3>\n

Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.<\/p>\n \n

\n Get Estimate <\/a>\n <\/div>\n <\/div>\n<\/div>\n\n
<\/div><\/p>\n

Proposition 37: New assistance for California homebuyers<\/b><\/h2>\n

For Californians struggling to save enough money to buy a home, Proposition 37 could provide a new path to homeownership.<\/span><\/p>\n

The voter-approved measure authorizes the California Housing Finance Agency (CalHFA) to issue up to $25 billion in revenue bonds to fund a new<\/span> down payment assistance program<\/span><\/a>. Eligible buyers could obtain a fixed-rate second mortgage covering up to 17% of a qualifying home’s purchase price.<\/span><\/p>\n

Unlike a grant, this assistance is a loan that borrowers must repay. Buyers would still need to qualify for a primary mortgage and make payments on both loans.<\/span><\/p>\n

Who qualifies for Proposition 37 assistance?<\/b><\/h3>\n

According to California’s<\/span> official voter information guide<\/span><\/a>, borrowers must:<\/span><\/p>\n