Apartment Investment in San Diego Muted During Third Quarter

Since the coronavirus outbreak started in San Diego, deal flow in the multifamily sector has cooled to the lowest level in nearly a decade. In each of the past two quarters, about 70 sales were recorded, about half as many traded as in a typical quarter in 2019. Sales volume, too, tallied about half the level compared to a quarter from 2019, with $300 million in each of the second and third quarter. Today, we’re in the longest stretch of quarters, three, with less than 100 transactions recorded since 2011.