NCAR Loses 3,154 Members in 2008

Membership in the North Carolina Association of Realtors (NCAR) continued to decline through the end of 2008, having peaked in 2007, according to data from the National Association of Realtors (NAR). The current membership roll of 40,188 as of 12/31/2008, is the lowest since October 2006. This is 7.28% below the 2007 year end enrollment of 43,342 and shows a loss of 3,154 members.

This is reflects a national decline in NAR membership which saw an average drop of 10.50% from 1,338,001 members to 1,197,529 being the lowest since July 2005 and showing a loss of 140,472 members since 12/31/2007. Membership in NAR peaked in October 2006 at 1,370,758. The only three territories that saw an increase in membership since 12/31/2007 were South Dakota (+2 members), North Dakota (+50) and Guam (+17).

The rate of growth in NCAR membership peaked in 2006 at 17% slowing to 5% in 2007 before turning negative for the first time in about 15 years. NCAR's membership decline of 7.28% closely matches Virginia's membership decline of 7.84%, and outperforms neighboring states: Tennessee declined 10.63%, South Carolina 10.72%, Georgia 20.06% (the greatest of any state) and Florida membership declined 15.14% since 12/31/2007.