{"id":581,"date":"2021-02-18T13:51:44","date_gmt":"2021-02-18T13:51:44","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=581"},"modified":"2023-03-10T08:13:28","modified_gmt":"2023-03-10T08:13:28","slug":"san-diego-housing-market-trends-winter-2021","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-winter-2021\/","title":{"rendered":"San Diego Housing Market Trends &#8211; Winter 2021"},"content":{"rendered":"<h2>Recovery in Sight<\/h2>\n<p>Following a bumpy second quarter,<strong> San Diego\u2019s multifamily sector recorded a stronger second half of 2020<\/strong>, as it hummed along toward recovery. The average San Diego rent dropped 0.3% last year, close to the -0.8% U.S. rate and somewhere between a booming <a href=\"https:\/\/www.yardimatrix.com\/blog\/inland-empire-housing-market-trends-fall-2020\/\"><strong>Inland Empire<\/strong><\/a> (7.3%) and a struggling <a href=\"https:\/\/www.yardimatrix.com\/blog\/san-jose-housing-market-trends-fall-2020\/\"><strong>San Jose<\/strong><\/a> (-13.7%). Meanwhile, occupancy inched up 10 basis points over 12 months to 96.0%, as of November 2020.<\/p>\n<p>While San Diego\u2019s economy managed to recover many of the jobs that were lost at the beginning of the health crisis, the city still shed nearly 100,000 positions in the 12 months ending in November 2020, marking an 8.2% contraction, with leisure and hospitality (-45,100 jobs) taking the strongest hit. Meanwhile, the unemployment rate steadily appreciated to 6.6% as of November from the 15.2% high in May, with two employment sectors recording gains over 12 months: professional and business services (7,300 jobs) and mining, logging and construction (2,000 jobs).<\/p>\n<p>The pandemic and ensuing economic volatility affected both transaction volume and development in 2020. Only $494 million in multifamily assets traded last year in San Diego, a sharp drop from nearly $1.6 billion one year prior. Meanwhile, completions recorded the slowest year since 2015, but are slated to bounce back, with 8,426 units underway at the start of 2021.<\/p>\n<p>Read the <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/1201-MatrixMultifamilySanDiegoReport-Winter2021?utm_source=Matrix-Blog&amp;utm_medium=Social\"><strong>Matrix Multifamily San Diego Report-Winter 2021<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recovery in Sight Following a bumpy second quarter, San Diego\u2019s multifamily sector recorded a stronger second half of 2020, as it hummed along toward recovery. The average San Diego rent dropped 0.3% last year, close to the -0.8% U.S. rate and somewhere between a booming Inland Empire (7.3%) and a struggling San Jose (-13.7%). Meanwhile, [&hellip;]<\/p>\n","protected":false},"author":650,"featured_media":582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[221,460],"class_list":["post-581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2021","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 - Winter 2021 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Following a bumpy second quarter, San Diego multifamily found a smoother course in the second half of 2020.\" \/>\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-winter-2021\/\" \/>\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 - Winter 2021\" \/>\n<meta property=\"og:description\" content=\"Following a bumpy second quarter, San Diego multifamily found a smoother course in the second half of 2020.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-winter-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-18T13:51:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-10T08:13:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Diego-iStock-1252982757.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 - Winter 2021 - Yardi Matrix Blog","description":"Following a bumpy second quarter, San Diego multifamily found a smoother course in the second half of 2020.","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-winter-2021\/","og_locale":"en_US","og_type":"article","og_title":"San Diego Housing Market Trends - Winter 2021","og_description":"Following a bumpy second quarter, San Diego multifamily found a smoother course in the second half of 2020.","og_url":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-winter-2021\/","og_site_name":"Yardi Matrix Blog","article_published_time":"2021-02-18T13:51:44+00:00","article_modified_time":"2023-03-10T08:13:28+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2021\/03\/San-Diego-iStock-1252982757.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-winter-2021\/#article","isPartOf":{"@id":"https:\/\/www.yardimatrix.com\/blog\/san-diego-housing-market-trends-winter-2021\/"},"author":{"name":"lilianam","@id":"https:\/\/www.yardimatrix.com\/blog\/#\/schema\/person\/877efe30f5be34ed3f8b5f334c96a8e0"},"headline":"San Diego Housing Market Trends &#8211; 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