The number of home sales per real estate agent is at its lowest level in over a decade

• The number of home sales per agent has fallen to its lowest level in over a decade, Apollo's Torsten Slok said.
• High mortgage rates and home prices have pushed buyers off the market.
• There are also fewer real estate agents per 1,000 jobs in states like California and New York as people flock to southern states. 

Not as many people are buying homes in an expensive housing market. And it's slowing things down for real estate agents.

The number of home sales per agent has fallen to its lowest level in over a decade, a note from Apollo Management's Torsten Slok stated.

"With many homeowners locked into sub-4% mortgage rates, existing home sales are at the lowest level since 2010," Sløk noted.