{"id":4293,"date":"2022-07-11T14:06:49","date_gmt":"2022-07-11T14:06:49","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=4293"},"modified":"2023-09-13T09:08:05","modified_gmt":"2023-09-13T09:08:05","slug":"san-diego-housing-market-trends-june-2022","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-june-2022\/","title":{"rendered":"San Diego Housing Market Trends &#8211; June 2022"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Demand Outstrips Supply, Pipeline Still Lags<\/h2>\n\n\n\n<p>Leading up to the spring leasing season, San Diego multifamily fundamentals continued to strengthen after a <strong><a href=\"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-february-2022\/\">relatively swift recovery<\/a><\/strong> for a coastal city. While occupancy increased 90 basis points over 12 months<strong>, year-over-year rent growth clocked in at a very strong 20.8%<\/strong>, outperforming the national average, as well as nearby Los Angeles, the Inland Empire and Orange County.<\/p>\n\n\n\n<p><strong>The metro\u2019s economy is also on the right track,<\/strong> having gained 104,300 positions in the 12 months ending in February, more than half of which were in the leisure and hospitality sector. Meanwhile, unemployment dropped to 3.4% in March, according to preliminary Bureau of Labor Statistics data, outpacing both the state and the nation. With the economic recovery advancing at a fast clip, metro San Diego\u2019s total employment fell just 7,540 positions short in March 2022 compared to February 2020, before the pandemic hit.<\/p>\n\n\n\n<p>Following a record 2021, when $3.7 billion in multifamily assets traded, <strong>the first four months of 2022 brought a transaction volume of $731 million<\/strong>, a figure on par with last year\u2019s solid pace. Meanwhile, only 911 apartments came online across metro San Diego year-to-date through April, and another 8,445 units were underway at the beginning of the second quarter, a pipeline that is falling short of matching current demand.<\/p>\n\n\n\n<p>Read the full<strong> <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/2391-MatrixMultifamilySanDiegoReport-June2022\">Matrix Multifamily San Diego Report-June 2022<\/a><\/strong><\/p>\n\n\n\n<div style=\"height:45px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Demand Outstrips Supply, Pipeline Still Lags Leading up to the spring leasing season, San Diego multifamily fundamentals continued to strengthen after a relatively swift recovery for a coastal city. While occupancy increased 90 basis points over 12 months, year-over-year rent growth clocked in at a very strong 20.8%, outperforming the national average, as well as [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":4294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[444,460],"class_list":["post-4293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2022","tag-san-diego"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>San Diego Housing Market Trends - June 2022 - Yardi Matrix Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-june-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"San Diego Housing Market Trends - June 2022\" \/>\n<meta property=\"og:description\" content=\"Demand Outstrips Supply, Pipeline Still Lags Leading up to the spring leasing season, San Diego multifamily fundamentals continued to strengthen after a relatively swift recovery for a coastal city. While occupancy increased 90 basis points over 12 months, year-over-year rent growth clocked in at a very strong 20.8%, outperforming the national average, as well as [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-june-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-11T14:06:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T09:08:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/07\/San-Diego-iStock-1392423773.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"lilianam\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bogdan Odagescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"San Diego Housing Market Trends - June 2022 - Yardi Matrix Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-june-2022\/","og_locale":"en_US","og_type":"article","og_title":"San Diego Housing Market Trends - June 2022","og_description":"Demand Outstrips Supply, Pipeline Still Lags Leading up to the spring leasing season, San Diego multifamily fundamentals continued to strengthen after a relatively swift recovery for a coastal city. While occupancy increased 90 basis points over 12 months, year-over-year rent growth clocked in at a very strong 20.8%, outperforming the national average, as well as [&hellip;]","og_url":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-june-2022\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2022-07-11T14:06:49+00:00","article_modified_time":"2023-09-13T09:08:05+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2022\/07\/San-Diego-iStock-1392423773.jpg","type":"image\/jpeg"}],"author":"lilianam","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bogdan Odagescu","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-june-2022\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-june-2022\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"San Diego Housing Market Trends &#8211; 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