San Diego Appraiser Blog

The University of Southern California, Lusk Center for Real Estate has released its 2022 Multifamily Report.  This report includes regional summaries and a 2023 and 2024 apartment market forecast for San Diego.  You may download the file here: USC Apartment Forecast 2023 .

The 2020 Covid-19 California Apartment Laws Are Summarized Here

Many apartment and commercial property owners have been waiting to learn if the eviction moratorium will be lifted.   Today the City of San Diego approved an extension of this moratorium until the end of September of 2020.   Our local NBC news has reported on this here: San Diego Apartment Moratorium 

Our office has been tracking and analyzing apartment rents and to date has yet to see significant discounting of apartment rents in most parts of the County.  Some units appear to be having longer marketing times.   This is happening because tenants are less likely to move and landlords are being very cautious about tenant screening at this time.  We have reviewed at least one national forecast that is projecting a 10% decline in rents by the end of 2020.  The SDSU college area and El Cajon appear to have been the most impacted so far, with students gone there is a higher inventory of one-bedroom units available.  

According to the San Diego Union-Tribune, Costar is predicting a 10% decline in apartment rents in San Diego by the end of 2020 in light of the Covid-19 pandemic. Link to recent apartment article:  Union-Tribune Apartment Article