Although it hasn’t matched the pace set in 2015, “2016 has been a year of slow yet steady growth for commercial real estate as a whole,” says Peter Muoio, chief economist with Ten-X.
Patricia Kirk of BisNOW recently sat down with ACI’s own Terry Moore to discuss the need for multifamily construction is San Diego wants to stay affordable.
REIS’s newly released data on apartment vacancy, absorption, supply, demand, and rent trends show softening in the rent market in the third quarter of 2016.
Apartment owners continue to ride a wave of growth on rents, hitting an all time high for the eighth consecutive time. But is this wave about to crest?
From young adults looking to buy for the first time and to baby boomers looking to downsize and save capital, a diverse flood of different generations have driven San Diego to eclipse its rent growth records of the past according to data released by a prominent apartment finder organization.
Chula Vista grew by 26% per apartment to 37% per square foot. National City values grew about 33% 2011 and 2015 in the three main value measurements.
The rapid rise in demand for multifamily units has caused the longest period of rental market tightening since the 1960’s, so says report by the Joint Center for Housing Studies at Harvard University.
When it comes to supply and demand, metro San Diego was the eighth “hottest” home market in the United States in May, said Realtor.com.
SAN DIEGO—North County is virtually out of land, so private developers are looking to South County, where the land is cheaper and more plentiful.