Since this board is dead and there has been no news, when I saw this I figured I would post it. Nice to see fewer vacancies. With limited new product, an ecconomy that we hope is on the mend, hopefully the trend will improve from here.

I can't believe a year ago this stock was 43 bucks. Could we get there again if we get higher occupancy and some rate increases?

The below was strictly the San Diego Market.

Posted date: 9/28/2009

Apartment Market Cruises at Top of Commercial Space

REAL ESTATE: Increasing Office, Industrial Vacancies Attributed to Downsizing

While the office and industrial markets both saw increases in vacancies, one commercial real estate sector, apartments, showed improvement, according to MarketPointe Realty Advisors.

The vacancy rate for multifamily buildings averaged 4.4 percent in September, down from 5.3 percent in March, MarketPointe reported. The company releases biannual reports in September and March.

“Despite the high unemployment rate, there doesn’t appear to be a big exodus from San Diego County,” said Robert Martinez, director of research.

MarketPointe surveyed 809 complexes with a total of 116,770 units countywide. The average monthly rental rate in September was $1,322, unchanged from March.

Vacancy stood at 2.25 percent in September 2008. According to analysts, however, a rental market with vacancies averaging between 5 percent and 7 percent is considered to be in balance.