While traditionally, the real estate sector is a "laggingindicator," Dale Anne Reiss, global and Americas director of realestate, hospitality and construction at Ernst & Young, pointsout, "hiring has picked up because activity has picked up.Buildings are being sold--there's more transactional activity." Shesays an increase in the number of jobs in the consulting servicesand the audit and tax field are signs of the resurgence in theeconomy.

Ed Friedman, executive vice president for Newmark Co.'s brokeradvisory services group, tells GlobeSt.com that the firm hasexperienced a "flood" of job applicants in recent history. "Realestate has always been seen as a steady employer. They see it as acareer that makes a lot of sense." Those applicants are not justcoming from the traditional real estate programs and he believesthey want to be integrated into the community they live in. "Wedon't have to tell them to get involved. They've been active infraternities, college sports or fundraising." Friedman says theindustry will "always have an appetite for bright, aggressivepeople who speak well and present well."

However, Craig Thomas, director at Torto Wheaton research,points out that the uptick in the real estate services sector is"almost entirely confined to the residential market." And hebelieves as interest rates rise, the single-family market will slowand jobs will dry up. "We're seeing the last gasp of thesingle-family market."