If it did, then the view state would have to be propagated back to the server in your Ajax calls.
Every JSF page (since version 1.2) stores a serialized version of the current component tree in a hidden field whose name is javax.faces.ViewState.
You can access it in JavaScript with:
var jsfState = window.document.getElementsByName("javax.faces.ViewState");
When making an Ajax call, the view state is sent back as a request parameter:
new Ajax.Request( window.document.forms[0].action, {method: "post", parameters: "ajax=true&zip=" + zip + "&javax.faces.ViewState=" + jsfState, onComplete: processRealtimeValidation });
There are additional issues concerning extracting components from the view and preparing the string for propagation.