San Diego Rental Sales Drop Again

Sales of apartment buildings in the San Diego area dropped 29% in August from a year earlier, continuing a year-long downward trend, according to a San Diego-based real estate brokerage firm.

John Burnham & Co. said 98 apartments with a total of 889 units in the area changed hands last month, compared to 138 sales with a combined 1,316 units in August of last year. East San Diego and Pacific Beach were the most active areas, with 12 sales each.

The value of permits for new apartment construction dropped 58% from a year earlier, to $30,927,951, the report said.