San Diego\u2019s fundamentals recorded a slow pace in the third quarter, akin to most Western markets, while 2023\u2019s overall performance reflected mixed results for multifamily. A slower economy and a correction of supply pipelines led to most metrics slowing or turning negative. Rates were down 0.1% on a trailing three-month basis through September\u2014on par with the U.S. figure, Yardi Matrix notes in the national multifamily market report<\/strong><\/a>\u2014to an average of $2,727. On a year-over-year basis, however, San Diego rents were up 1.9%, 110 basis points ahead of the national rate.<\/p>\n