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Apartment Market Still Sizzles for Investors

SAN DIEGO-A report by Burnham Real Estate Services shows that the bright spot in the San Diego real estate market continues to be apartments.

By Randyl J. Drummer | Updated on March 15, 2002

SAN DIEGO-A report by Burnham Real Estate Services shows that the hotspot in the San Diego realestate market continues to be apartments.

Current vacancy of just 1.4% confirms that demand for housing in San Diego County still outpaces theavailable supply–a scenario that is compounded by an increasing number of residents who cannot afford tobuy a home.

“The shortage of affordable and available housing in San Diego will continue to be an issue for years tocome,” says George Carlson, vice president and apartment specialist with Burnham Real Estate Services. “As a result, apartments are well-positioned for a strong future investment-wise.”San Diego County apartment rental rates are at theirhighest level ever, up 53% since the beginning of 1996, the Burnham report shows.

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