Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Housing News

National Association of Realtors membership levels decrease

Membership down, but not out

We reported in October that despite common belief, overall membership of the National Association of Realtors had not plummeted, although some parts of the nation have been harder hit than others, causing some to proclaim the sky is falling.

Membership levels did decrease in 2011 at the year’s end, but overall hovered around just above the one million member mark. In October, we reported 1,024,669 members which has dropped by 14,729 to 1,009,940 to close out the year. The drop from October to December represents a 1.44 percent dip, not representing any major crash in membership numbers.

In the halls of many brokerages across America, people are jumping ship, while in others, agents are signing on. The rapid shuffling of the deck has been cause for speculation about how the number of Realtors is performing. Membership is down from its October 2006 peak of 1.37 million members, but in recent months, no major decrease has been seen.

Realtors continue to struggle as one in three contracts fail, up nearly 10 percent from the year prior. Failures are due to declined mortgage applications or failed underwriting as appraised values are coming in below the negotiated price, according to the National Association of Realtors. The good news for NAR members is that resale home sales have risen for the last three months as home prices continue to slide.

Advertisement. Scroll to continue reading.

There is a shift in the industry, and while there are fewer NAR members today than in October, the number is just over one percent which only represents a small shift in light of the current economic climate.

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

17 Comments

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Business News

(FINANCE) An anti-trust lawsuit against major players in the residential real estate industry sheds light on misinformation and misunderstandings about commissions - when you're...

Business Marketing

(MARKETING) Opcity is the Austin startup making big changes to the ways that lead generation happens in real estate.

Business News

(REAL ESTATE NEWS) NAR CEO Dale Stinton is set to retire after his successor is named. Stinton is known for his steady leadership and...

Austin

When looking to buy a home, taking the long view is important before making such a huge investment - where are the best places...

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.