Growth in Realtors Slowing Dramatically

The number of Realtors has grown dramatically in the past five years during mount. Realtors are members of the National Association of Realtors (NAR). Not all real estate agents are Realtors. By a very wide margin the NAR is the largest organization representing real estate brokers in the United States. On September 20th, I asked Is There a Realtor Bubble?

At the end of 2000 the number of Realtors stood at 803,803, by the end of 2005 their ranks had swelled to 1,265,367. In five short year the Realtors had grown by 57.4%.

Now their membership growth is slowing. Their month over month (pdf) national growth was .48% from 1,364,196, to 1,370,758 which represented this smallest percentage growth rate for the month of October since 1999.

For the month of October, the number of Realtors declined in 10 states.

The tremendous growth rate of the Realtors is over. The NAR should expect outright declines in their membership.