The US Real Estate Bubble Now Has More Realtors Than Homes To Sell
The US real estate boom is looking a little bubbly in one more way — a surge in new Realtors. The National Association of Realtors (NAR) saw membership soar in May. Membership is now growing at the highest rate since 2006, as more people try to get in on the gold rush. It’s going to be tough, considering there are now more Realtors than existing-homes to sell.
US Realtor Membership Increased Over 8% Last Year
There are a lot of Realtors in the United States these days. NAR membership reached 1.50 million in May, up 1.34% (+19,925) from a month before. Annual growth came in at 8.75% (+121,022) for the month. That’s right, 1 in 6 members over the past year, joined just last month. No month since 2006 has seen an annual rate of growth this large.
US Realtor Memberships
The monthly total of Realtors registered in the United States.
Source: NAR; Better Dwelling.