Tuesday, June 11, 2013

Update: Real Estate Agent Boom and Bust

by Calculated Risk on 6/11/2013 09:31:00 PM

Way back in 2005, I posted a graph of the Real Estate Agent Boom. Here is another update to the graph.

Below is another update to the long term graph of the number of real estate licensees in California.

The number of agents peaked at the end of 2007 (housing activity peaked in 2005, and prices in 2006).

The number of salesperson's licenses is off 32% from the peak, and is still declining. The number of salesperson's licenses has fallen to June 2004 levels.

However brokers' licenses are only off 8% and have only fallen to late 2006 levels - and appear to have stopped falling

California Real Estate Licensees Click on graph for larger image.

If we look at examinations (and new licensees issued), there are more people obtaining licenses than a year ago. However - since the number of salesperson's licenses are still declining - there are still more people letting their licensees expire.

So far there is no sign of a new bubble in real estate agents!