Realtor Political Stimulus Package

The North Carolina Association of Realtors (NCAR) reported spending $373,155 through the North Carolina Homeowners Alliance (NCHA) for direct mail services for 4 NC House seats, 4 NC Senate seats and 2 County Commissioner races in the 2008 election. The money went to Cornerstone Solutions & Communications according to a post-election report filed with the IRS.

Separate reports filed with the NC State Board of Elections (SBOE) by the NCHA show spending on direct mail services and on phone calls for for 4 NC Senate seats and only 3 House seats totalling $228,834. In one House race, District 41 in Wake County, NCHA spent $52,578 in negative campaigning against incumbent Ty Harrell and $4,995 in calls for his opponent Brian Gossage, a total of $57,574 for that seat.

It would appear that the balance of $144,321 was spent by the NCHA on County Commissioner races. However, the only known county (and referenced in IRS filings) was Wake County and the race known to have been targeted was in County District 4 where, despite the realtors' opposition, challenger Stan Norwalk successfully ran against incumbent Kenn Gardner.

The spending through NCHA was complemented by spending through other entities. In addition to direct contributions to candidates, the NC Realtors PAC reported to the SBOE a payment of $209,640 to Cornerstone Solutions & Communications 10/3/08 for "mail pieces". The Third Quarter report only shows spending through 10/18/08 which, for the 2007-08 election cycle, had amounted to $1,033,966. Spending through November 4th, election day, will not be known until 4th Quarter reports are filed at the end of this month.

NCAR Loses 3,154 Members in 2008

Membership in the North Carolina Association of Realtors (NCAR) continued to decline through the end of 2008, having peaked in 2007, according to data from the National Association of Realtors (NAR). The current membership roll of 40,188 as of 12/31/2008, is the lowest since October 2006. This is 7.28% below the 2007 year end enrollment of 43,342 and shows a loss of 3,154 members.

This is reflects a national decline in NAR membership which saw an average drop of 10.50% from 1,338,001 members to 1,197,529 being the lowest since July 2005 and showing a loss of 140,472 members since 12/31/2007. Membership in NAR peaked in October 2006 at 1,370,758. The only three territories that saw an increase in membership since 12/31/2007 were South Dakota (+2 members), North Dakota (+50) and Guam (+17).

The rate of growth in NCAR membership peaked in 2006 at 17% slowing to 5% in 2007 before turning negative for the first time in about 15 years. NCAR's membership decline of 7.28% closely matches Virginia's membership decline of 7.84%, and outperforms neighboring states: Tennessee declined 10.63%, South Carolina 10.72%, Georgia 20.06% (the greatest of any state) and Florida membership declined 15.14% since 12/31/2007.