Recession hits real estate agents hard

Not a great business to be in, even with a slight recovery at hand. California had 462,809 real estate license holders as of January, down from the peak of 549,244 in November 2007, and the lowest level in more than 5½ years. The numbers have fallen in 37 of the past 38 months. From the OC Register:

The change in the number of license holders also is reflected in the ranks of practicing Realtors. Membership in the California Association of Realtors, for example, has gone from around 196,000 in 2007 to around 160,000 now, an 18.4% decrease.