Construction and real estate-related jobs have declined 19 percent overall since the recession began, but at least one sector is doing exceptionally well: real estate escrow, listing, fiduciary and other services.
The number of jobs in that sector fell to 35,100 in August 2009, shortly after the end of the recession, with an average salary of $62,744. Currently, jobs in this sector stand at 50,500 and the average salary has risen to $71,947.
That’s according to charts developed by The New York Times detailing how each industry has been affected by the recession. The news outlet puts this sector of the industry squarely in the “recovered and grown” camp – perhaps not surprising given the success of listing portals such as Zillow, Trulia and realtor.com in recent years.
“Real estate property managers” and “miniwarehouse and self-storage unit operators” have also recovered and grown, according to the Times.
By contrast, neither the “offices of real estate agents and brokers” nor the “offices of real estate appraisers” have recovered from the recession. Between 2004 and 2014, jobs in offices of agents and brokers peaked in April 2009 at 380,200. They hit a trough in July 2012 at 272,400 jobs with an average salary of $51,653.
Since then, jobs in this sector have risen 6.3 percent to 289,500 (still down 24 percent from the peak) and the average salary has stayed flat: $51,646.