San Diego Apartment Sales Slow in First 60 Days of Year

The year-end, tax-motivated, record-breaking sales spree of apartments in the San Diego area slowed considerably during the first 60 days of 1987, according to figures released by the John Burnham & Co.

Burnham’s San Diego County Apartment Report shows the December all-time high in sales volume followed by record sales lows with new construction activity declining dramatically as well.

During the first two months of this year, 68 apartment projects, representing a total of 587 units, changed hands, in contrast with 219 buildings, or 2,681 units, last December. Construction permits in January/February also slumped with a value of $19,252,951 for 550 permits, in contrast with $69,413,869 for 2,335 units for the same period a year ago.