Industry News

California sees drop in real estate licensees

Statewide count falls for first time in 5 years

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For the first time in five years, the total number of real estate licensees in California dropped slightly in December, according to California Department of Real Estate statistics. The real estate regulatory agency reported that the total number of real estate licensees dropped from 549,244 in November 2007 to 548,959 in December, a 0.1 percent decline. It was the first monthly decline since March 2002. Using the U.S. Census Bureau's population estimate for the state of 36.6 million as of July 1, 2007, about 1.5 percent of the state's population had real estate licenses in December. Under California's real estate licensing laws, real estate brokers can also act as mortgage brokers. The population of real estate brokers in the state increased from 150,528 in November 2007 to 150,934 in December 2007, while the population of real estate salespersons dropped from 398,716 in November to 398,025 in December. Statistics reveal a dramatic drop in the number of salesperson licens...