San Diego County Apartment Sales Upturn Reported

San Diego County apartment sales recovered slightly in July from a six-month slump, but construction of new apartment units fell behind comparable 1985 totals for the first time this year, according to a study by John Burnham & Co., San Diego.

Apartment projects changing hands in July totaled 139 (2,211 units), up 2% from the 136 (2,175 units) in July, 1985. Through the end of July, transactions were down 12%, with sales of 773 projects (10,002 units), compared to 876 (14,179 units) sold in the first seven months of 1985.

Only $27,712,067 worth of new permits, for 682 units, were issued in July, down 60% from the $69,373,676 valuation (2,016 units) for July, 1985, according to Burnham’s George Carlson.