New data shows the San Diego rental market is ending the year on a downward trend when it comes to pricing. It’s the first annual decline in 15 years, according to CoStar.
The commercial real estate data firm reports rents have fallen month over month for the past six months across the region, signaling a shift after more than a decade of rising prices. Josh Ohl, senior director of market analytics for CoStar Group San Diego, said the data focuses on properties with five units or more and covers about 289,000 units across the county.
“With the past three months alone, each [recorded] the same negative 0.4% rent growth,” Ohl said. “So this is the first time on an annualized basis that rents have fallen since 2010.”…