More Realtors Close Businesses Amid Slowing Housing Market

      October 25, 2019 12:11

      The number of new realtors fell below 1,000 last month for the first time in six years. The Korea Association of Realtors said Thursday that the number of new real estate agencies starting businesses stood at 900 in September.

      The decline appears to be due to a slowing housing market due to the government's toughened measures to crack down on real estate speculation.

      The last time the number of new realtors fell below 1,000 was in August of 2013, when the number stood at 982.

      "The number of housing transactions has fallen sharply since late last year, causing realtors to leave the business," a staffer at the association said.

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