San Diego ’87 Apartment Sales Have a Slow Start

San Diego County apartment sales and new construction are gaining momentum after a slow start this year, according to a report by John Burnham & Co.

In June, 153 projects representing 2,142 units changed hands. This was a jump of 39% over 1986.

It was also a big increase over May, which showed only 84 projects with 769 units. In 1987’s first half, a total of 448 projects representing 5,436 units were sold, down 29% from last year.

Burnham reported that new apartment construction permits in June were $20,055,089, 23% below last June, but up from May’s $9.5 million.

Condominium new construction permits in June represented $12,295,087, down from $15,376,643 last June.