The graph shows 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 29% from the peak, and is increasing again (up 6.6% from low). The number of salesperson's licenses has increased to July 2004 levels.
Brokers' licenses are off 12.9% from the peak and have only fallen to February 2006 levels, but are still slowly declining (down almost 1% year-over-year).
Click on graph for larger image.We are seeing a pickup in Real Estate licensees in California, although the number of Brokers is still declining.